Updated Four-Unit
New
For Sale
$323,000
337 COLORADO AVE., Rio Hondo, TX 78583
MULTI_FAMILY - RIO HONDO, TX
Property Size2,552 SF
Lot Size0.27 Acres
Price / SF$126.57
Days on Market3
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
Central, Electric (Heating)
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
Last Checked: Aug 6 at 8:06AM
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 2,552-square-foot quadplex, built in 2004, contains four residential units: two one-bedroom, one-bath units and two two-bedroom, one-bath units. Tile flooring, electric central heating, central air conditioning, smoke alarms, ranges, and refrigerators serve the property. Public water and public sewer are in place, and the property has no designated parking features.
Recent work includes a new roof completed in 2025, rebuilt stairs from 2024, replacement of cracked windows in 2025, and painted trim and stairs in 2026. Water heaters have been replaced within the past three years, while all A/C units have been updated within the past eight years. Existing tenants are described as stable and long-term, supporting the property's income-producing use. The property occupies 0.2727 acres at 337 Colorado Ave. in Rio Hondo, Texas, near shopping, dining, schools, and fishing areas.
Recent work includes a new roof completed in 2025, rebuilt stairs from 2024, replacement of cracked windows in 2025, and painted trim and stairs in 2026. Water heaters have been replaced within the past three years, while all A/C units have been updated within the past eight years. Existing tenants are described as stable and long-term, supporting the property's income-producing use. The property occupies 0.2727 acres at 337 Colorado Ave. in Rio Hondo, Texas, near shopping, dining, schools, and fishing areas.
Key Highlights
- Four units: two 1‑bedroom/1‑bath units and two 2‑bedroom/1‑bath units
- 2,552 square feet on 0.2727 acres
- New roof completed in 2025; stairs rebuilt in 2024
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.2k | $12.60 |
| − Vacancy | −$2.1k | −$0.81 |
| EGI | $30.1k | $11.79 |
| − OpEx | −$9.0k | −$3.54 |
| NOI | $21.1k | $8.25 |
2,552 SF · lease $12.60/SF/yr · vacancy 6.46% · expense 30.00%
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
100%
Occupancy
Multi-tenant
Tenancy
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 - Income-producing four-unit property with established tenants, recent exterior work, public utilities, and central air conditioning.
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 units: two 1‑bedroom/1‑bath units and two 2‑bedroom/1‑bath units; 2,552 square feet on 0.2727 acres; New roof completed in 2025; stairs rebuilt in 2024
