2226 51st St · Galveston, TX 77551

$250,000

4 bd · 1.5 ba · 1,768 sqft · MultiFamily public records · 480 Days on market

Built 1974 2,580 sqft lot $141/sqft · 23% below area Est $310k · 19% under

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Why this score? — see what drove the C+ 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 +20.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.7/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• 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

REDUCED. .. Revenue producing duplex close enough to the beach to walk or drive a golf cart. Close to shopping, restaurants and fishing at the beach. Drive over to 61st and go fishing or boating at the park. Your tenants will be near to many of our coastal amenities.

Key facts

• Garage for each unit
• 2,580 sq ft lot
• Garage

Tags

• REVENUE PRODUCING DUPLEX
• BLOCKS FROM THE BEACH
• GARAGE FOR EACH UNIT

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive. Per door: $137/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 rising fast (+4.3%/yr); 382 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% 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 $2,673/mo this rent would consume 55% of the median local household income ($58k/yr) (locally 1626% 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 $2k of loan paydown is wiped out by about $8k 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 480 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $65k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 480 days. Have you received any prior offers? Is the seller open to a 12% 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 1974 — 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: 1.07% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 7.8

CMA / ARV

• ARV (median comp): $310,073
• List price: $250,000
• Delta: -19.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1613 52nd	0.40mi	3/1.0 (-1)	1,776 (+0%)	14mo	$199,900	$113	62
2515 52nd St	0.20mi	3/1.0 (-1)	1,512 (-14%)	13mo	$305,000	$202	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.72×
• Total profit: $-19,421
• Equity at exit: $37,276

10-year hold

• IRR: 3.8%
• Equity multiple: 1.30×
• Total profit: $20,738
• Equity at exit: $21,615

Cash invested: $70,000 (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 77551

• Home prices YoY: -23.3%
• Rents YoY: 4.3%
• Active inventory: 382
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $2,673 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$355 /mo · $4,264/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $275

Break-even live

Break-even rent $2,325

Max offer price $250,000

Occupancy floor 85%

Sensitivity live

Price	-10% $416	-5% $345	+0% $275	+5% $204	+10% $133
Rent	-10% $64	-5% $169	+0% $275	+5% $380	+10% $486
Rate	-1.0pp $401	-0.5pp $338	base $275	+0.5pp $210	+1.0pp $144

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,672
Total (2 units)			$2,673

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4818 Avenue R 1/2 Galveston, TX	1.0–3.0	1.0–2.0	1264	$1,875	$1.48	0d	2	0.18mi
4420 Avenue T Galveston, TX	3.0	2.0	1260	$2,100	$1.67	44d	1	0.50mi
6116 Avenue Q 1/2 Unit Rear Galveston, TX	3.0	1.5	1600	$1,900	$1.19	44d	1	0.79mi
4025 Avenue M Unit M Galveston, TX	3.0	3.0	1628	$2,490	$1.53	44d	1	0.97mi
2427 35th St Galveston, TX	3.0	2.5	1540	$2,500	$1.62	44d	1	1.14mi
3808 Avenue L Unit L Galveston, TX	3.0	2.0	1800	$2,250	$1.25	44d	1	1.16mi
3523 Avenue L Unit L Galveston, TX	3.0	2.0	1500	$2,250	$1.50	44d	1	1.30mi

Listing history 35 events

1. 2026-06-21
   days on market $250,000 Active 480 DOM
2. 2026-06-18
   days on market $250,000 Active 477 DOM
3. 2026-06-17
   days on market $250,000 Active 476 DOM
4. 2026-06-16
   days on market $250,000 Active 475 DOM
5. 2026-06-15
   days on market $250,000 Active 474 DOM
6. 2026-06-13
   days on market $250,000 Active 472 DOM
7. 2026-06-09
   days on market $250,000 Active 468 DOM
8. 2026-06-08
   days on market $250,000 Active 467 DOM
9. 2026-06-07
   days on market $250,000 Active 466 DOM
10. 2026-06-04
    days on market $250,000 Active 463 DOM
11. 2026-06-03
    days on market $250,000 Active 462 DOM
12. 2026-06-01
    days on market $250,000 Active 460 DOM
13. 2026-05-31
    days on market $250,000 Active 459 DOM
14. 2025-07-29
    price $275,000 267-char remark

    Show marketing remark (267 chars)

    REDUCED. .. Revenue producing duplex close enough to the beach to walk or drive a golf cart. Close to shopping, restaurants and fishing at the beach. Drive over to 61st and go fishing or boating at the park. Your tenants will be near to many of our coastal amenities.

15. 2025-07-28
    price $275,000 344-char remark

    Show marketing remark (344 chars)

    REDUCED...Great opportunity to own a revenue producing duplex. Just blocks from the beach, restaurants and stores, this property is a steady rental. Located on the corner of 51st and Ave R, it is complete with a garage for each unit. Quick walk or ride to great bay or beach fishing. Currently occupied, call agent for a 24 hour appointment.

16. 2025-05-19
    price $280,000 267-char remark

    Show marketing remark (267 chars)

    REDUCED. .. Revenue producing duplex close enough to the beach to walk or drive a golf cart. Close to shopping, restaurants and fishing at the beach. Drive over to 61st and go fishing or boating at the park. Your tenants will be near to many of our coastal amenities.

17. 2025-05-18
    price $280,000 344-char remark

    Show marketing remark (344 chars)

    REDUCED...Great opportunity to own a revenue producing duplex. Just blocks from the beach, restaurants and stores, this property is a steady rental. Located on the corner of 51st and Ave R, it is complete with a garage for each unit. Quick walk or ride to great bay or beach fishing. Currently occupied, call agent for a 24 hour appointment.

18. 2025-04-16
    price $290,000 267-char remark

    Show marketing remark (267 chars)

    REDUCED. .. Revenue producing duplex close enough to the beach to walk or drive a golf cart. Close to shopping, restaurants and fishing at the beach. Drive over to 61st and go fishing or boating at the park. Your tenants will be near to many of our coastal amenities.

19. 2025-04-15
    price $290,000 344-char remark

    Show marketing remark (344 chars)

    REDUCED...Great opportunity to own a revenue producing duplex. Just blocks from the beach, restaurants and stores, this property is a steady rental. Located on the corner of 51st and Ave R, it is complete with a garage for each unit. Quick walk or ride to great bay or beach fishing. Currently occupied, call agent for a 24 hour appointment.

20. 2025-02-26
    listed $315,000 Active 267-char remark

    Show marketing remark (267 chars)

    REDUCED. .. Revenue producing duplex close enough to the beach to walk or drive a golf cart. Close to shopping, restaurants and fishing at the beach. Drive over to 61st and go fishing or boating at the park. Your tenants will be near to many of our coastal amenities.

21. 2025-02-25
    listed $315,000 Active 344-char remark

    Show marketing remark (344 chars)

    REDUCED...Great opportunity to own a revenue producing duplex. Just blocks from the beach, restaurants and stores, this property is a steady rental. Located on the corner of 51st and Ave R, it is complete with a garage for each unit. Quick walk or ride to great bay or beach fishing. Currently occupied, call agent for a 24 hour appointment.

22. 2017-11-27
    soldstatus
23. 2017-11-20
    soldstatus Sold
24. 2017-11-13
    status Pending, Continue to Show
25. 2017-08-07
    price $155,000
26. 2017-07-26
    listed $155,000 Active
27. 2017-07-24
    price $155,000
28. 2017-07-24
    historical
29. 2016-11-04
    price $159,000
30. 2016-11-04
    listed $149,000 Active
31. 2014-08-25
    soldstatus
32. 2014-08-22
    soldstatus
33. 2014-07-15
    historical
34. 2014-06-17
    listed $114,500
35. 2005-04-21
    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: $4,264 · $355/mo
• Projected year-2 tax: $4,575 · $381/mo
• Expected delta: +$311/yr (+$26/mo · 7.3%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 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: $32,076
• − Mortgage interest: −$14,004
• − Property taxes: −$4,264
• − Insurance: −$2,048
• − Repairs & maintenance: −$2,566
• − Management: −$2,566
• − Depreciation: −$7,273
• Taxable loss: −$644
• Est. tax savings @ 24.0%: +$155
• After-tax cash flow: $3,451/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): 21,696
• Household income: $58,344
• Rent vs Own: 51.8% rent · 48.2% own
• Severe rent burden: 1626.0

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 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 35% Two or more races 19% Black 14% Asian 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 17% · Canada, Jamaica
• Languages at home: 69% English-only · Spanish 25% Other Indo-European 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: ▼ -82.84%
• Current HPI: 273.0717
• Rent YoY: ▲ 4.28%
• 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

+140.2% since first listed

22 events — show timeline

• 2025-07-29 Price Changed $275,000 Galveston MLS
• 2025-07-28 Price Changed $275,000 HARMLS
• 2025-05-19 Price Changed $280,000 Galveston MLS
• 2025-05-18 Price Changed $280,000 HARMLS
• 2025-04-16 Price Changed $290,000 Galveston MLS
• 2025-04-15 Price Changed $290,000 HARMLS
• 2025-02-26 Listed $315,000 Galveston MLS
• 2025-02-25 Listed $315,000 HARMLS
• 2017-11-27 Sold (Public Records) — Public Records
• 2017-11-20 Sold (MLS) — HARMLS
• 2017-11-13 Pending — HARMLS
• 2017-08-07 Price Changed $155,000 Galveston MLS
• 2017-07-26 Listed $155,000 HARMLS
• 2017-07-24 Price Changed $155,000 HARMLS
• 2017-07-24 Listing Removed — HARMLS
• 2016-11-04 Price Changed $159,000 HARMLS
• 2016-11-04 Listed $149,000 HARMLS
• 2014-08-25 Sold (Public Records) — Public Records
• 2014-08-22 Sold (MLS) — HARMLS
• 2014-07-15 Listing Removed — HARMLS
• 2014-06-17 Listed $114,500 HARMLS
• 2005-04-21 Sold (Public Records) — Public Records

Property tax history

+11.7%/yr

Latest (2025): $4,264 · +19.2% YoY. Source: county tax records.