Soil water content (θ), matric potential (h) and hydraulic conductivity (K) are key parameters for hydrological and environmental processes. Several sensors have been developed for measuring soil θ-h-K relationships. The cost of such commercially available sensors may vary over several orders of magnitude. In recent years, some sensors have been designed in the framework of Internet of Things (i.e., IoT) systems to make remote real-time soil data acquisition more straightforward, enabling low-cost field-scale monitoring at high spatio-temporal scales. In this paper, we introduce a new multi-parameter sensor designed for the simultaneous estimation of θ and h at different soil depths and, due to the sensor's specific layout, the soil hydraulic conductivity function via the instantaneous profile method (IPM). Our findings indicate that a second-order polynomial function is the most suitable model (R2 = 0.99) for capturing the behavior of the capacitive-based sensor in estimating θ in the examined soil, which has a silty-loam texture. The effectiveness of low-cost capacitive sensors, coupled with the IPM method, was confirmed as a viable alternative to time domain reflectometry (TDR) probes. Notably, the layout of the sensor makes the IPM method less labor-intensive to implement. The proposed monitoring system consistently demonstrated robust performance throughout extended periods of data acquisition and is highly suitable for ongoing monitoring of soil water status.