3913 Winnie St · Galveston, TX 77550

$165,000

2 bd · 2.0 ba · 1,066 sqft · MultiFamily public records · 108 Days on market

Built 1950 1,260 sqft lot $155/sqft · 30% below area Est $234k · 30% under ↓ 42% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Duplex - Each unit offers 1 bedroom and 1 bathroom. Investment opportunity or owner-occupant option with rental income potential. Currently tenant occupied.

Key facts

• 1,260 sq ft lot
• Built 1950
• Listed 107 days

🏷️ Possibly a rental listed for sale. The $165,000 price doesn't fit this home's estimated sale value (~$234,287) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/yr) — positive. Per door: $45/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 0.1% in Galveston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#108 in TX, #3,559 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D+, employment D, crime F.
• Galveston ISD (town): math 33% / reading 39% proficiency, ranked #514 of 826 in TX (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.1%/yr); 622 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).
• At $2,090/mo this rent would consume 56% of the median local household income ($45k/yr) (locally 2193% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Galveston County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.27% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.39%
• DSCR: 1.60
• GRM: 6.6

CMA / ARV

• ARV (median comp): $234,287
• List price: $165,000
• Delta: -29.57%
• Verdict: UNDERPRICED
• Comps: 11 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.42×
• Total profit: $-26,896
• Equity at exit: $24,602

10-year hold

• IRR: -19.2%
• Equity multiple: 0.16×
• Total profit: $-38,602
• Equity at exit: $14,266

Cash invested: $46,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 77550

• Home prices YoY: -32.9%
• Rents YoY: -1.1%
• Active inventory: 622
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,090 high
• Mortgage (P&I): −$865
• Tax from tax record: −$201 /mo · $2,417/yr
• Insurance: −$69
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $89

Break-even live

Break-even rent $1,977

Max offer price $165,000

Occupancy floor 91%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,090
Total (2 units)			$2,090

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4217 Sealy St Galveston, TX	2.0	1.0	900	$850	$0.94	43d	1	0.27mi
3523 Avenue L Unit L Galveston, TX	3.0	2.0	1500	$2,250	$1.50	43d	1	0.45mi
3718 Avenue M 1/2 Unit Rear Up Galveston, TX	3.0	1.0	936	$1,275	$1.36	43d	1	0.47mi
3409 Avenue L Unit Le Bleu Sirene Galveston, TX	2.0	1.0	1006	$1,600	$1.59	43d	1	0.52mi
3501 Avenue M Galveston, TX	3.0	1.0	950	$1,240	$1.31	43d	1	0.53mi
4406 Avenue N Galveston, TX	2.0	2.0	1197	$1,230	$1.03	4d	1	0.60mi
4020 Avenue O 1/2 Galveston, TX	3.0	1.0	916	$1,350	$1.47	1d	1	0.71mi
2921 Avenue H Unit H Galveston, TX	2.0	2.0	925	$1,263	$1.37	43d	1	0.72mi
2915 Avenue H Galveston, TX	2.0–3.0	1.5–3.0	1118	$1,750	$1.57	1d	15	0.72mi
2727 Avenue K Galveston, TX	3.0	1.0	972	$1,900	$1.95	43d	1	0.89mi
2806 Avenue M 1/2 Galveston, TX	2.0	1.0	792	$830	$1.05	43d	1	0.93mi
2806 Avenue M 1/2 #1 Galveston, TX	2.0	1.0	792	$830	$1.05	24d	1	0.93mi
2711 Avenue K Unit 10 Galveston, TX	3.0	1.0	950	$1,295	$1.36	20d	1	0.93mi
2711 Avenue K Unit 12 Galveston, TX	3.0	1.0	950	$1,325	$1.39	43d	1	0.93mi
2711 Avenue K Unit 9 Galveston, TX	3.0	1.0	950	$1,650	$1.74	20d	1	0.93mi
2711 Avenue K Unit 01 Galveston, TX	3.0	1.0	800	$1,195	$1.49	43d	1	0.93mi
2627 Avenue K Galveston, TX	2.0	1.0	700	$1,200	$1.71	43d	1	0.96mi
3602 Avenue Q 1/2 Galveston, TX	2.0	1.0	1416	$2,500	$1.77	43d	1	0.98mi
2609 Avenue L Apt 8 Galveston, TX	2.0	1.0	758	$995	$1.31	24d	1	1.01mi
4715 Avenue P 1/2 Unit 1/2 REAR Galveston, TX	1.0	1.0	748	$1,395	$1.86	5d	1	1.03mi
1208 26th St Unit 1546007P Galveston, TX	3.0	2.0	796	$2,599	$3.27	15d	1	1.05mi
1212 26th St Unit 1545867P Galveston, TX	3.0	2.0	742	$2,645	$3.56	12d	1	1.05mi
2221 35th St Galveston, TX	2.0	1.0	1080	$1,300	$1.20	15d	1	1.06mi
2221 35th St Unit UP Galveston, TX	2.0	1.0	1080	$1,300	$1.20	18d	1	1.06mi
2223 35th St Galveston, TX	2.0	1.0	860	$1,500	$1.74	43d	1	1.06mi
2814 Avenue O 1/2 Galveston, TX	2.0	1.0	1105	$1,400	$1.27	43d	1	1.06mi
5006 Bernardo De Galvez Ave Unit RL14 Galveston, TX	2.0	1.0	1080	$1,350	$1.25	43d	1	1.09mi
3010 Avenue Q Galveston, TX	2.0	1.0	1045	$1,400	$1.34	43d	1	1.10mi
2001 29th St Galveston, TX	2.0	1.0	1109	$1,400	$1.26	43d	1	1.13mi
5313 Perry Ave Galveston, TX	2.0	2.0	1036	$1,595	$1.54	22d	1	1.18mi
4824 Avenue R Galveston, TX	2.0	2.0	1250	$1,300	$1.04	43d	1	1.21mi
1914 27th St Galveston, TX	2.0	1.5	840	$1,795	$2.14	12d	1	1.23mi
4818 Avenue R 1/2 Galveston, TX	1.0–3.0	1.0–2.0	1264	$1,462	$1.16	1d	2	1.25mi
5501 Menard Ave Galveston, TX	2.0	2.0	900	$1,200	$1.33	43d	1	1.26mi
1801 Rosenberg St Unit HOUSE Galveston, TX	3.0	3.5	1288	$2,700	$2.10	43d	1	1.27mi
4420 Avenue T Galveston, TX	3.0	2.0	1260	$2,100	$1.67	43d	1	1.32mi
5523 Avenue O 1/2 Galveston, TX	2.0	1.0	900	$1,010	$1.12	44d	1	1.38mi
2216 Avenue O 1/2 Galveston, TX	2.0	1.0	789	$1,150	$1.46	5d	1	1.43mi

Listing history 39 events

1. 2026-06-18
   days on market $165,000 Active 108 DOM
2. 2026-06-17
   days on market $165,000 Active 107 DOM
3. 2026-06-16
   days on market $165,000 Active 106 DOM
4. 2026-06-15
   days on market $165,000 Active 105 DOM
5. 2026-06-13
   days on market $165,000 Active 103 DOM
6. 2026-06-09
   days on market $165,000 Active 99 DOM
7. 2026-06-08
   days on market $165,000 Active 98 DOM
8. 2026-06-07
   days on market $165,000 Active 97 DOM
9. 2026-06-04
   days on market $165,000 Active 94 DOM
10. 2026-06-03
    days on market $165,000 Active 93 DOM
11. 2026-06-02
    days on market $165,000 Active 92 DOM
12. 2026-06-01
    days on market $165,000 Active 91 DOM
13. 2026-05-31
    days on market $165,000 Active 90 DOM
14. 2026-04-24
    price $165,000 156-char remark

    Show marketing remark (156 chars)

    Duplex - Each unit offers 1 bedroom and 1 bathroom. Investment opportunity or owner-occupant option with rental income potential. Currently tenant occupied.

15. 2026-03-02
    listed $180,000 Active 156-char remark

    Show marketing remark (156 chars)

    Duplex - Each unit offers 1 bedroom and 1 bathroom. Investment opportunity or owner-occupant option with rental income potential. Currently tenant occupied.

16. 2026-02-14
    historical $750
17. 2025-12-19
    price $750
18. 2025-10-23
    listed $800
19. 2024-08-16
    historical $750
20. 2024-07-19
    historical $750
21. 2024-07-18
    listed $750
22. 2024-05-05
    listed $750
23. 2024-05-05
    historical $795
24. 2024-05-04
    listed $795
25. 2024-05-04
    historical $795
26. 2024-03-02
    price $795
27. 2023-12-13
    listed $875
28. 2023-11-27
    historical
29. 2023-10-03
    soldstatus
30. 2023-10-03
    soldstatus
31. 2023-09-11
    price $35,000
32. 2023-08-08
    listed $40,000 Active
33. 2023-06-24
    historical
34. 2023-02-25
    price $40,000
35. 2023-01-25
    listed $30,000 Active
36. 2022-09-30
    historical
37. 2022-08-26
    price $270,000
38. 2022-08-04
    listed $285,000 Active
39. 2021-08-17
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $2,417 · $201/mo
• Projected year-2 tax: $3,020 · $252/mo
• Expected delta: +$602/yr (+$50/mo · 24.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,080
• − Mortgage interest: −$9,243
• − Property taxes: −$2,417
• − Insurance: −$5,944
• − Repairs & maintenance: −$2,006
• − Management: −$2,006
• − Depreciation: −$4,800
• Taxable loss: −$1,336
• Est. tax savings @ 24.0%: +$321
• After-tax cash flow: $1,390/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Galveston ISD
• NCES district ID: 4820280
• Math proficiency: 33% ▼ -14.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $40,162
• Composite: 30.22/100
• National rank: #6299
• State rank: #514 of 826 in TX

Livability — Galveston

• Score: 76/100
• State rank: #108
• US rank: #3559

Category grades

Amenities D+ Commute A+ Cost of living A+ Crime F Employment D Housing A+ Health & safety A- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galveston, TX
• County: Galveston County · 357,330 people
• City population: 55,599
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 23,489
• Household income: $45,047
• Rent vs Own: 60.0% rent · 40.0% own
• Severe rent burden: 2193.0

Population outlook (Galveston County) Hauer SSP2

• Today (2025): 390,640 people
• By 2030: 425,226 · +8.9%
• By 2040: 493,765 · +26.4%
• By 2050: 559,698 · +43.3%
• By 2075: 719,260 · +84.1%
• By 2100: 819,628 · +109.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 46% Hispanic / Latino 30% Two or more races 19% Black 19% Asian 3%
• Hispanic origin (detail): Mexican 21% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Italian 2% Romanian 1%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 75% English-only · Spanish 18% Other Asian/Pacific 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Galveston

• 2024 margin: Strong R (+27.4) · D 35.7% · R 63.1% · Other 1.2%
• 2008→2024 swing: -7.9pp toward R · 2008: -19.5pp · 2024: -27.4pp
• All cycles: 2024: R+27.4 2020: R+22.6 2016: R+22.6 2012: R+26.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -158.96%
• Current HPI: 324.2159
• Rent YoY: ▼ -1.12%
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-42.1% since first listed

26 events — show timeline

• 2026-04-24 Price Changed $165,000 HARMLS
• 2026-03-02 Listed $180,000 HARMLS
• 2026-02-14 Rental Removed $750 BUILDIUM
• 2025-12-19 Price Changed $750 BUILDIUM
• 2025-10-23 Listed for Rent $800 BUILDIUM
• 2024-08-16 Rental Removed $750 HARMLS
• 2024-07-19 Rental Removed $750 BUILDIUM
• 2024-07-18 Listed for Rent $750 BUILDIUM
• 2024-05-05 Listed for Rent $750 HARMLS
• 2024-05-05 Rental Removed $795 BUILDIUM
• 2024-05-04 Listed for Rent $795 BUILDIUM
• 2024-05-04 Rental Removed $795 HARMLS
• 2024-03-02 Price Changed $795 HARMLS
• 2023-12-13 Listed for Rent $875 HARMLS
• 2023-11-27 Listing Removed — HARMLS
• 2023-10-03 Sold (Public Records) — Public Records
• 2023-10-03 Sold (Public Records) — Public Records
• 2023-09-11 Price Changed $35,000 HARMLS
• 2023-08-08 Listed $40,000 HARMLS
• 2023-06-24 Listing Removed — HARMLS
• 2023-02-25 Price Changed $40,000 HARMLS
• 2023-01-25 Listed $30,000 HARMLS
• 2022-09-30 Listing Removed — HARMLS
• 2022-08-26 Price Changed $270,000 HARMLS
• 2022-08-04 Listed $285,000 HARMLS
• 2021-08-17 Sold (Public Records) — Public Records

Property tax history

+16.3%/yr

Latest (2025): $2,417 · -3.1% YoY. Source: county tax records.