Updated Quadplex with Unit
337 COLORADO AVE., Rio Hondo, TX 78583
For Sale
$323,000
Residential Income, RIO HONDO, TX
Property Size2,552 SF
Lot Size0.27 Acres
Price / SF$126.57
Days on Market96
Property Features for 337 COLORADO AVE.
General Information
Property type
Property subtype
Parking features
Interior features
Appliances
Subdivision
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Additional Details
Tenant in Place
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Listing Agency:
MARCUS PHIPPS REAL ESTATE, LLC
(956) 423-5300
Listed By:
JACQUELYN WRIGHT · License #0659323
(956) 244-6620
Added: Aug 4
Changed: Oct 26
Last Checked: Nov 7 at 7:06AM
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.
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$21,055
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
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
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
