Quadplex with Updated
623 E WASHINGTON ST., Weslaco, TX 78596
For Sale
$340,000
Pending
Residential Income, WESLACO, TX
Property Size3,416 SF
Lot Size0.27 Acres
Days on Market99
Property Features for 623 E WASHINGTON ST.
General Information
Property type
Property subtype
Parking features
Patio and Porch features
Interior features
Exterior features
Fencing
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Additional Structures
Listing Agency:
MARCUS PHIPPS REAL ESTATE, LLC
(956) 423-5300
Listed By:
MARCUS PHIPPS · License TX #450735
(956) 793-2355
Added: Aug 4
Changed: Oct 28
Last Checked: Nov 10 at 6:06AM
MLS# 29778464
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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Investment Insights
Based on property information with market context.
This 3,416-square-foot quadplex contains four residential units, each arranged with 2 bedrooms, 1 bath, a kitchen, dining area, and living room. Tile flooring, ceiling fans, smoke alarms, central heating, and central air serve the interiors. Range appliances and refrigerators are included. The property also provides patios, storage, and a privacy fence.
Built in 2000 on 0.265 acres, the property uses public water and public sewer. The roof was replaced in 2023, and the privacy fence was added in 2024. It is located at 623 E Washington St. in Weslaco, north of the Expressway and off Bridge Road.
Built in 2000 on 0.265 acres, the property uses public water and public sewer. The roof was replaced in 2023, and the privacy fence was added in 2024. It is located at 623 E Washington St. in Weslaco, north of the Expressway and off Bridge Road.
Key Highlights
- Four‑unit quadplex with 3,416 square feet of building area
- Each unit includes 2 bedrooms, 1 bath, kitchen, dining area, and living room
- Roof replacement completed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,873
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,460
$597.5K
Cap Rate 7%
$426,757
$426.8K
Cap Rate 9%
$331,922
$331.9K
Market Conditions
NOI Build-Up for 3,416 SF
Gross rent
$48.0K $14.04/SF
− Vacancy
−$5.3K −$1.55/SF
EGI
$42.7K $12.49/SF
− OpEx
−$12.8K −$3.75/SF
NOI
$29.9K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,460
Cap Rate 7%
$426,757
Cap Rate 9%
$331,922
Alternative Uses
Best Use
Multifamily LT 5
$426.8K
$373.4K – $497.9K
NOI $29,873 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$392.9K
$343.8K – $458.4K
NOI $27,504 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,116 @ 7.0% cap · market cap 24.74%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
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Business Placement
Demographics for 78596, TX
37,329
Population
15,824
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
75%
High-School Grad
40.1 sq mi
ZIP Area
931
Density / Sq Mi
$53,797
Median Household Income
$31,618
Median Earnings
$917
Median Rent
$92,800
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Weslaco, TX
Properties on Market for Quadplexes in Weslaco
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer matching two-bedroom, one-bath layouts with kitchens, dining areas, and living rooms.
Where is this quadplex located?
The property is located at 623 E WASHINGTON ST. Weslaco, TX.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,416 square feet of building area; Each unit includes 2 bedrooms, 1 bath, kitchen, dining area, and living room; Roof replacement completed in 2023
