Four-Unit Residential Income
For Sale
$340,000
623 E Washington St, Weslaco, TX 78599
Four residences each provide two bedrooms, a full bath, and distinct kitchen, dining, and living areas.
Property Size3,416 SF
Price / SF$99.53
Days on Market87
Property Features for 623 E Washington St
General Information
Standard status
Active
Size
3,416 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,520
Listing Agency:
Marcus Phipps Real Estate LLC
Listed By:
Marcus Phipps · License #450735
(956) 423-5300
Source:
Exprealty
Added: Aug 4
Changed: Oct 26
Last Checked: Oct 28 at 10:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus Phipps Real Estate LLC
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Investment Insights
Based on property information with market context.
This four-unit residential property totals 3,416 square feet. Each residence has two bedrooms and one bathroom, along with a kitchen, dining area, and living room. The roof was replaced in 2023, and a privacy fence was added in 2024. The property has had one owner and has been maintained over time.
The complex is at 623 E Washington St in Weslaco, north of the Expressway and off Bridge Rd, with access to the surrounding area.
The complex is at 623 E Washington St in Weslaco, north of the Expressway and off Bridge Rd, with access to the surrounding area.
Key Highlights
- Four residential units, each with 2 bedrooms and 1 bathroom
- 3,416 square feet total
- Roof replaced 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
Hotel Hospitality
$2.57M
$2.25M – $3.00M
NOI $180,109 @ 7.0% cap · market cap 52.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Explore this area
Business Placement
Demographics for 78599, TX
32,500
Population
9,945
Households
3.3
Avg Household Size
29
Median Age
16%
College-Educated
67%
High-School Grad
26.5 sq mi
ZIP Area
1,226
Density / Sq Mi
$55,939
Median Household Income
$27,841
Median Earnings
$954
Median Rent
$113,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences each provide two bedrooms, a full bath, and distinct kitchen, dining, and living areas.
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 residential units, each with 2 bedrooms and 1 bathroom; 3,416 square feet total; Roof replaced in 2023
