Updated Quadplex with Unit
For Sale
$323,000
337 COLORADO AVE., Rio Hondo, TX 78583
Residential Income, RIO HONDO, TX
Property Size2,552 SF
Lot Size0.27 Acres
Price / SF$126.57
Days on Market31
Property Features for 337 COLORADO AVE.
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
None
Interior features
Smoke Alarm(s)
Appliances
Range, Refrigerator
Subdivision
MORNING GLORY
Elementary school
RIO HONDO
Middle school
RIO HONDO
High school
RIO HONDO
Elementary school district
RIO HONDO I.S.D.
Middle school district
RIO HONDO I.S.D.
High school district
RIO HONDO I.S.D.
Standard status
Active
Size
2,552 SF
Lot size
0.27 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2004
Floors in Building
2
Number of units
4
Flooring type
Tile
Listing Agency:
MARCUS PHIPPS REAL ESTATE, LLC
(956) 423-5300
Listed By:
JACQUELYN WRIGHT · License #0659323
(956) 244-6620
Added: Aug 4
Changed: Aug 19
Last Checked: Sep 3 at 4:06PM
MLS# 29778471
Copyright © 2026 Rio Grande Valley Multiple Listing Service Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2004 quadplex contains 2,552 square feet across four residential units. The configuration includes two 1-bedroom/1-bath units and two 2-bedroom/1-bath units, with tile flooring, range and refrigerator appliances, smoke alarms, central heating, and central air conditioning. Recent property work includes a roof replacement in 2025, rebuilt stairs in 2024, cracked-window replacements in 2025, and painted trim and stairs in 2026. Water heaters have been replaced within the past three years, while the air-conditioning units were updated within the past eight years.
The property occupies 0.2727 acres at 337 Colorado Ave. in Rio Hondo, Texas, within Cameron County. Public water and public sewer serve the property. Parking is not provided on site.
The property occupies 0.2727 acres at 337 Colorado Ave. in Rio Hondo, Texas, within Cameron County. Public water and public sewer serve the property. Parking is not provided on site.
Key Highlights
- Four‑unit quadplex with two 1‑bedroom/1‑bath units and two 2‑bedroom/1‑bath units
- 2,552 square feet on a 0.2727‑acre parcel
- Roof replaced in 2025; stairs rebuilt in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,055
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$421,100
$421.1K
Cap Rate 7%
$300,786
$300.8K
Cap Rate 9%
$233,944
$233.9K
Market Conditions
NOI Build-Up for 2,552 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.2K $12.60/SF
− Vacancy
−$2.1K −$0.81/SF
EGI
$30.1K $11.79/SF
− OpEx
−$9.0K −$3.54/SF
NOI
$21.1K $8.25/SF
Area
Cameron County, TX
Vacancy
6.46%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$421,100
Cap Rate 7%
$300,786
Cap Rate 9%
$233,944
Alternative Uses
Best Use
Multifamily LT 5
$300.8K
$263.2K – $350.9K
NOI $21,055 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$275.8K
$241.4K – $321.8K
NOI $19,308 @ 7.0% cap · market cap 5.98%
Theoretical Best
Healthcare Medical
$439.4K
$384.5K – $512.7K
NOI $30,759 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Explore this area
Business Placement
Demographics for 78583, TX
5,869
Population
2,781
Households
2.1
Avg Household Size
41
Median Age
15%
College-Educated
75%
High-School Grad
93.1 sq mi
ZIP Area
63
Density / Sq Mi
$61,315
Median Household Income
$35,947
Median Earnings
$771
Median Rent
$147,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property offers two one-bedroom units and two two-bedroom units with public utilities and central systems.
Where is this quadplex located?
The property is located at 337 COLORADO AVE. Rio Hondo, TX.
What is the asking price?
The asking price for this property is $323,000.
What are key features of this property?
This property features: Four‑unit quadplex with two 1‑bedroom/1‑bath units and two 2‑bedroom/1‑bath units; 2,552 square feet on a 0.2727‑acre parcel; Roof replaced in 2025; stairs rebuilt in 2024
