This work presents TREA, a low-precision time-multiplexed and resource-efficient edge-AI accelerator for object detection and classification, targeting stringent area-power-latency constraints of edge vision platforms. The proposed architecture integrates a dual-precision (4/8-bit) SIMD multiply-accumulate (DQ-MAC) unit based on most-significant-digit-first (MSDF) shift-and-add computation with run-time bit truncation, eliminating conventional multiplier overhead and reducing accumulator bit-width. The DQ-MAC supports 4x FxP4 or 1x FxP8 operations per cycle, achieving up to 4x throughput improvement without hardware duplication. A structured hardware-aware reductive pruning (SHARP) strategy is co-designed with the SIMD datapath, enabling near 50% structured sparsity while maintaining full MAC utilization. This allows a 3x3 convolution kernel to be computed in 1 cycle in FxP4 mode compared to 9 cycles in FxP8, and a 5x5 kernel in 3 cycles versus 25 cycles, yielding up to 9x latency reduction at the kernel level. The accelerator further incorporates a reconfigurable CORDIC-based nonlinear activation function (RQ-NAF) core with a 9-stage pipeline, supporting Sigmoid, Tanh, and ReLU at one output per cycle after pipeline fill, while enabling (N-1) hardware reuse through time-multiplexing. The complete TREA architecture employs a 1D array of 100 SIMD DQ-MAC units with layer-wise hardware reuse, significantly reducing area and control complexity. Experimental results demonstrate substantial improvements in latency, hardware utilization, and energy efficiency compared to conventional fixed-precision and non-reconfigurable accelerators, validating TREA as an effective solution for real-time edge vision workloads.