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Cabo Estate ManagementProperty Advisory | Los Cabos
Comparative Market Analysis | July 22, 2026
Ventanas de Cabo
Phase 3B
A condominium-only market analysis for a fully furnished two-bedroom, two-bath residence with panoramic ocean, Arch and city views.
Currency key: USD = U.S. dollars | MXN = Mexican pesos
01 | Executive Summary
Market position at a glance
Indicated market value
$380K-$395K USD
USD | as-is, furnished, subject to unit verification
Suggested launch price
$395,000 USD
Review showing activity after 21-30 days
Annual rental target
$34K-$36K MXN
MXN per month | HOA included; utilities separate
Gross annual rent
Approx. $24.1K USD
U.S. dollar reference based on $35,000 MXN per month and the stated exchange rate
CEM conclusion
The subject appears to sit at the upper end of the annual-rental segment because of its elevated views, two distinct terraces, outdoor cooking area, fire feature and turnkey furnishings. For sale, however, current two-bedroom Phase 3B competition is concentrated at $380,000 and $390,000, while the wider Los Cabos two-bedroom condo market remains inventory-heavy. A disciplined launch at $395,000 is defensible, but the property should not be positioned materially above the direct Phase 3B competition without confirmed superior square footage, deeded parking/storage or meaningful recent upgrades.
Sale recommendation
Market value range$380,000-$395,000 USD
Recommended list price$395,000 USD
Price-to-move option$385,000 USD
Likely negotiation band3%-8% below list
Annual rental recommendation
Recommended asking rent$36,000 MXN (Mexican pesos) per month
Expected executed rent$34,000-$36,000 MXN
Lease structure12 months | HOA included
Tenant-paidElectricity, internet, gas
Why this conclusion is appropriately conservative
Primary sale weighting uses only active 2BR/2BA condominiums in Ventanas Phase 3B.
Houses, villas, townhomes and three-bedroom units are excluded from the direct sale calculation.
Rental pricing recognizes the property's superior terraces and view while respecting current same-phase competition.
The conclusion is adjusted for a buyer-friendly 2026 two-bedroom condo market with high inventory.
02 | Subject Property
What the supplied photos show
Interior
Open-concept living, dining and kitchen arrangement; granite countertops; stainless-steel appliances; travertine-style floors; stone television wall; mini-split air conditioning and ceiling fans.
Sleeping configuration
Primary bedroom furnished with a king-size bed, built-in storage and walk-in closet. Second bedroom is configured with two individual beds, supporting families, roommates or visiting guests.
Outdoor living
One covered terrace includes a built-in grill and sink. A second terrace includes a stone fire feature, built-in bench and broad views over the community, city, ocean and Land's End.
Required verification before the report becomes a final listing CMA
The exact unit number, deeded interior square meters, terrace square meters, floor level, parking rights, storage rights, current HOA statement, property tax, fideicomiso cost, rental restrictions and inventory list were not provided. This report therefore uses the approximately 135-136 m2 / 1,450-1,463 sq. ft. range shown by the two closest active Phase 3B comparables as a working assumption only.
Property photo gallery
Click any image to enlarge03 | For Sale CMA
Condominium-only sale analysis
Direct comp average
$385,000
Two active Phase 3B matches
Average asking $/sq. ft.
$264
Based on 1,458-1,463 total sq. ft.
Indicated at 1,450 sq. ft.
$382,242
Before feature and condition adjustments
Primary comparable set
These are the only listings given direct valuation weight.| Comparable | Bed/Bath | Total Sq. Ft. | Asking priceUSD - U.S. dollars | USD / Sq. Ft. | View | Link |
|---|---|---|---|---|---|---|
| Arch View 2 BEDPrimary | 2 / 2 | 1,463 | $380,000 USD | $260 | Arch + ocean | Open listing |
| Ventanas 3B PenthousePrimary | 2 / 2 | 1,458 | $390,000 USD | $267 | Ocean + city | Open listing |
Secondary Ventanas context
Not included in the primary average| Comparable | Bed/Bath | Total Sq. Ft. | Asking priceUSD - U.S. dollars | USD / Sq. Ft. | Use | Link |
|---|---|---|---|---|---|---|
| Ventanas Phase 2 CondoVentanas Phase 2 | 2 / 2 | 1,449 | $395,000 USD | $273 | Secondary | Source |
| PH The ViewVentanas Phase 2 | 2 / 2 | 1,450 | $474,000 USD | $327 | Premium context | Source |
| Ventanas 126BEarlier Ventanas phase | 2 / 2 | 1,641 | $311,500 USD | $190 | Lower context | Source |
Adjustment logic
Panoramic ocean / Arch viewPositive
Two usable terracesPositive
Outdoor grill, sink and fire featurePositive
Fully furnished / turnkeyPositive
Traditional finishes and furniture ageNeutral to modest negative
Exact parking/storage not confirmedUnverified
Pricing decision
Launch at $395,000 USD
This price allows the property's outdoor spaces and view to lead the story while remaining close enough to the $380,000 and $390,000 direct competitors to generate showings. If the objective is a faster sale, $385,000 is the stronger entry point.
Do not anchor to Phase 2 premium penthouse asking prices unless the subject's deeded area, floor level, parking and upgrades demonstrably support the premium.
2026 market condition
Buyer leverage remains meaningful.
Los Cabos Q2 data reports 25 months of inventory in the two-bedroom condo segment and a 92.1% condo sale-to-list ratio.
2BR condo inventory
25 mo.
Condo sale/list
92.1%
Avg. condo DOM
195
04 | Annual Rental CMA
Long-term furnished rental position
Recommended asking
$36,000 MXN
Mexican pesos per month
Expected executed rent
$34K-$36K MXN
Mexican pesos per month
Direct 2BR evidence
$1,900
USD/month | Approx. $33,055 MXN
Recommended deposit
1 month
Plus first month before occupancy
Rental comparable set
Condominiums only; same-phase evidence shown before neighborhood context.| Comparable | Bed/Bath | Monthly rentMXN - Mexican pesos | USD referenceU.S. dollars | Condition | Term | Link |
|---|---|---|---|---|---|---|
| Ventanas 3B - 2BR/2BADirect | 2 / 2 | $33,055 MXN | Approx. $1,900 USD | Upscale furnished | Annual | Open source |
| Ventanas 3B #816Same phase context | 3 / 2 | $34,000 MXN | Approx. $1,954 USD | Fully furnished | Annual | Open source |
| Ventanas 3B - equippedSame phase context | 3 / 2 | $33,000 MXN | Approx. $1,897 USD | Equipped / unfurnished | Annual | Open source |
| El Tezal - 2BR/2BANeighborhood | 2 / 2 | $25,000 MXN | Approx. $1,437 USD | Furnished/equipped | Annual | Open source |
| Luna Terra I - 2BR/2BANeighborhood | 2 / 2 | $27,500 MXN | Approx. $1,581 USD | Fully furnished | 12 months | Open source |
Positioning rationale
The direct two-bedroom Phase 3B listing at $1,900 USD establishes a strong benchmark near $33,000 MXN. The subject can reasonably ask more because the supplied photos show a broader view, a covered outdoor kitchen, a separate fire-feature terrace and a complete furniture package.
However, furnished three-bedroom Phase 3B offerings are currently advertised around $33,000-$34,000 MXN. That supply creates a ceiling: a two-bedroom asking materially above $36,000 MXN may lose renters to a larger unit unless utilities, premium parking, housekeeping or other services are included.
Recommended lease structure
Lease term12 months
HOAIncluded in rent
Electricity / internet / gasTenant paid
Security deposit1 month
PetsBy owner + HOA approval
Inventory condition reportRequired
Illustrative annual performance
$35,000 MXN per month
Illustration only; actual owner expenses and CEM management terms must be inserted before relying on the yield.
Gross annual
$420,000
MXN
Gross yield
6.3%
At $385K value
Illustrative net
4.1%
Before tax
Illustrative annual operating calculation
Gross scheduled rent$420,000 MXN (Mexican pesos) / Approx. $24,141 USD
Vacancy / credit allowance (5%)- $21,000 MXN
Management illustration (10%)- $42,000 MXN
HOA illustration ($327 USD per month)- $68,268 MXN
Maintenance reserve (4%)- $16,800 MXN
Illustrative NOI before tax, insurance and fideicomiso$271,932 MXN (Mexican pesos) / Approx. $15,631 USD
05 | Strategy
How CEM would bring the property to market
Option A
Sell now
Best when the owner prioritizes liquidity, wants to eliminate carrying costs or does not want exposure to a competitive long-term rental market.
Launch$395,000 USD
Fast-market launch$385,000 USD
Critical success factorProfessional photography + exact unit data
Option B
Hold and rent annually
Best when the owner has a three-year-plus holding horizon, values future appreciation and is comfortable with an estimated net yield near 4% before tax.
Ask$36,000 MXN (Mexican pesos) per month
Expected lease$34,000-$36,000 MXN
Critical success factorTenant screening + inventory controls
Recommended decision rule
List for sale first only when the owner is prepared to accept the evidence-based market. If the owner's minimum net proceeds require a price materially above $395,000, CEM would favor a 12-month rental while monitoring Phase 3B inventory rather than allowing the listing to become stale.
30-day launch plan
Verify
Confirm unit number, deeded area, HOA, parking, storage, taxes, fideicomiso and rental rules.
Prepare
Deep clean, remove personal items, correct visible television wiring, service air-conditioning and test appliances.
Present
Professional twilight photography, precise floor plan, view-led copy and a complete furnishing inventory.
Launch & review
Track inquiries, tours and objections weekly. Reassess price after 21-30 days if engagement is below target.
Highest-return improvements
Neutralize accessories, simplify the dining area, conceal TV cables, refresh linens and pillows, add coordinated terrace textiles and photograph at sunset.
Listing message
Lead with the panoramic Arch and ocean view, then the two outdoor living zones, turnkey furnishings, family-friendly bedroom configuration and Phase 3B amenities.
Do not overstate
Do not advertise square footage, deeded garage/storage, penthouse status, rental permissions or included utilities until documents confirm each item.
06 | Sources & Method
Transparent research trail
Apples-to-apples protocol
The primary sale conclusion uses only condominiums-never houses, villas or townhomes-and gives direct weight only to active, furnished, two-bedroom, two-bath listings in Ventanas Phase 3B with similar total area and strong views. Other Ventanas phases and three-bedroom rentals are displayed only as secondary context and are explicitly excluded from the direct value average.
Primary sale comp
MLS 26-1415 | Arch View 2 BED
Open
Active at $380,000; 2BR/2BA, 1,463 sq. ft., furnished, Arch/ocean views, Phase 3B.
Primary sale comp
MLS 26-890 | Ventanas 3B Penthouse
Open
Active at $390,000; 2BR/2BA, 1,458 sq. ft., furnished, private decks, ocean/city views and two-car enclosed parking.
Current inventory
Ventanas MLS search results
Open
Used to screen current Ventanas condominium inventory and exclude non-condominium property types from the primary set.
Rental evidence
Ventanas Phase 3B 2BR/2BA annual rental
Open
Advertised at $1,900 USD per month with upscale furnishings, pool amenities and assigned parking.
Rental inventory
Vivanuncios | Ventanas rental results
Open
Same-phase three-bedroom condo offerings at $33,000-$34,000 MXN were used as a rental ceiling cross-check.
Neighborhood rentals
Inmuebles24 | Los Cabos apartments for rent
Open
Broader 2BR/2BA El Tezal condo inventory was used to establish the non-premium neighborhood floor.
Market conditions
Los Cabos Residential Real Estate Market Report | Q2 2026
Open
Provides condo inventory, days-on-market, sale-to-list ratio and the 25-month inventory figure for two-bedroom condos.
Exchange rate
Diario Oficial de la Federacion | July 22, 2026
Open
Reference rate used for USD/MXN illustrations: $1 USD = $17.3975 MXN.
Important: This document is a comparative market analysis and property-management advisory prepared by Cabo Estate Management. It is not a bank appraisal, tax opinion, legal opinion, guarantee of sale price or guarantee of rental income. Public listing information is deemed reliable but is not guaranteed and can change without notice. Asking prices are not closed-sale prices. Final pricing should be reconfirmed after reviewing the subject unit's title documents, exact square footage, HOA statement, parking/storage rights, condition, inventory and current MLS closed-sale data.