$325,000 Price Analysis    ♡   Rio Hondo, TX 78583 Unknown bed None bath 8,352 SqFt ($38/SqFt) 0.57 acre lot. Built 1948 Listed 2024-02-25, Taxes $6,203 | ✓ USDA Eligible near Rio Hondo, TX Restrictions may apply due to home size |
14-unit apartment complex that is a perfect value-add opportunity for the right buyer.
Some units have not be en updated, this will allow the new buyer to update and bring all units to market rents. The current owner has successfully increased NOI by 30% since purchase almost three years ago. But further NOI increase is possible with updates to the units. Please note: 1. The property requires many updates and repairs. Some units may not be rented unless repairs are done. The property is being sold as-is with no repairs of any kind to be done by the seller prior to sale. 2. Seller will give priority to all-cash offers with no contingencies with proof of funds. 3. Seller will give priority to any offer with a large earnest money deposit. 4. If you are planning on getting financing, ensure your lender/bank is aware of the condition of the property. Bring n offers, Reduced by motivated Seller!!
Property appraised @ $390.000.
Presented by Frank Escobedo at
Global Home Finders Realty.
Property MLS #29750683 from RioGrandeValley
Flooring: Tile
Lot Size Square Feet: 24999
High School: RIO HONDO
Middle School: RIO HONDO
School District: RIO HONDO I.S.D.
Map directions Map directionsSource Listing Status: Active
County: CAMERON
Directions: Take N. Sam Houston to Rio Hondo, Turn left at E. Colorado St, continue to the last st before crossing the bridge and turn left at S. Arroyo Blvd. The property is on the right.
Tax Year: 2023
Source Property Type: Residential Income
Area: Rio Hondo
Source Neighborhood: Rio Hondo
Number of Separate Electric Meters: 5
Subdivision: RIO HONDO, ORIGINAL TOWNSITE
Property Subtype: Apartment (10+)
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $158,721 + $49,000 $207,721 | $6,203 |
| 2021 | $161,027 + $49,000 $210,027 | $6,137 |
| 2020 | $161,027 + $49,000 $210,027 | $6,168 |
| 2019 | $143,558 + $49,000 $192,558 | $5,623 |
| 2018 | $143,558 + $49,000 $192,558 | $5,684 |
| 2017 | $143,558 + $49,000 $192,558 | $5,674 |
| 2016 | $79,808 + $25,000 $104,808 | $3,085 |
| 2015 | $79,808 + $25,000 $104,808 | $2,961 |
| 2014 | $79,808 + $25,000 $104,808 | $2,961 |
| 2013 | $71,685 + $25,000 $96,685 | $2,659 |
| 2012 | $71,685 + $25,000 $96,685 | $2,659 |
| 2011 | $71,685 + $25,000 $96,685 | $2,544 |
| 2010 | $unknown + $unknown $96,685 | $2,572 |
| 2009 | $unknown + $unknown $96,685 | $2,388 |
| 2008 | $unknown + $unknown $96,685 | $2,360 |
| 2007 | $unknown + $unknown $96,685 | $2,341 |
$325,000
RioGrandeValley
Price Changed 2024-06-18
$370,000
RioGrandeValley
Relisted 2024-05-02
$399,000
RioGrandeValley
Listing removed 2024-04-19
$0
RioGrandeValley
Price Changed 2024-04-16
$399,000
RioGrandeValley
Listed 2024-02-25
$425,000
RioGrandeValley
Listing removed 2024-01-07
$0
RioGrandeValley
Price Changed 2023-11-09
$475,000
RioGrandeValley
Listed 2023-10-18
$495,000
RioGrandeValley
Listing removed 2021-07-08
$0
RioGrandeValley
Sold 2021-06-29
$0
Public Record
Relisted 2021-04-16
$215,000
RioGrandeValley
Listing removed 2021-04-07
$0
RioGrandeValley
Relisted 2021-03-25
$215,000
RioGrandeValley
Listing removed 2021-03-24
$0
RioGrandeValley
Relisted 2021-03-16
$215,000
RioGrandeValley
Listing removed 2021-03-03
$0
RioGrandeValley
Relisted 2021-02-27
$215,000
RioGrandeValley
Listing removed 2021-02-24
$0
RioGrandeValley
Listed 2021-02-12
$215,000
RioGrandeValley
Listing removed 2016-12-31
$175,000
RioGrandeValley
Relisted 2015-12-19
$175,000
RioGrandeValley
Listing removed 2015-10-17
$175,000
RioGrandeValley
Price Changed 2015-04-16
$175,000
RioGrandeValley
Listed 2010-09-29
$219,000
RioGrandeValley
Sold 2005-10-04
$0
Public Record
Year Built: 1948
Building Exterior Type: Block, Brick, Stucco
Other Buildings: Laundry Facility
Foundation Details: Slab
Property Age: 76
Levels or Stories: 1
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.