1816 20th St · Galveston, TX 77550

$250,000

2 bd · 2.0 ba · 1,736 sqft · MultiFamily public records · 272 Days on market

Built 1960 2,365 sqft lot $144/sqft · 35% below area Est $384k · 35% 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 +16.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 1% rule +4.7/10.0
• 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

Welcome to this duplex opportunity, located just one block from The Seawall and right behind The Grand Galvez. This property offers the perfect blend of charm, location, and investment potential. It’s ideal for a primary residence, vacation getaway, or an income producing rental. The downstairs unit features an one bedroom and one and a half bathrooms with an open living area to the kitchen. The upstairs unit is one bedroom and one bathroom with an open living area as well. Both have their own utility room with a full size washer and dryer. The duplex could be a great long term rental or short term vacation rental. With its proximity to the beach, dining, and The Strand, this duplex is a true gem for those looking to enjoy everything Galveston has to offer.

Key facts

• Utility room
• Open living area
• Duplex opportunity

Tags

• DUPLEX OPPORTUNITY
• ONE BLOCK FROM THE SEAWALL
• BEHIND THE GRAND GALVEZ
• OPEN LIVING AREA
• UTILITY ROOM
• FULL SIZE WASHER AND DRYER

What this means for you Summary

Snapshot

• This is a 1×1bd/1.5ba + 1×1bd/1ba units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $65 ($774/yr) — positive. Per door: $32/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (3.2% below list).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 soft (-1.1%/yr); 622 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 $2,419/mo this rent would consume 64% 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 $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 272 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask is 20733% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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→27/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 272 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 1960 — 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: 0.97% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.25%
• DSCR: 1.10
• GRM: 8.6

CMA / ARV

• ARV (median comp): $383,751
• List price: $250,000
• Delta: -34.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1301 14th St	0.53mi	1/1.0 (-1)	1,620 (-7%)	2mo	$299,000	$185	54
1213 28th St	0.71mi	2/1.0	1,728 (-0%)	11mo	$199,000	$115	53
1801 Avenue M 1/2	0.30mi	3/2.0 (+1)	1,864 (+7%)	24mo	$435,000	$233	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.38×
• Total profit: $-43,382
• Equity at exit: $37,276

10-year hold

• IRR: -18.3%
• Equity multiple: 0.15×
• Total profit: $-59,438
• 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 77550

• Home prices YoY: -32.9%
• Rents YoY: -1.1%
• Active inventory: 622
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $2,419 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$365 /mo · $4,378/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $65

Break-even live

Break-even rent $2,337

Max offer price $250,000

Occupancy floor 92%

Sensitivity live

Price	-10% $206	-5% $135	+0% $65	+5% $-6	+10% $-77
Rent	-10% $-127	-5% $-31	+0% $65	+5% $160	+10% $256
Rate	-1.0pp $190	-0.5pp $128	base $65	+0.5pp $0	+1.0pp $-66

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

Units	Beds	Baths	Est. rent
1× unit	1	1.5	$1,210
1× unit	1	1	$1,210
Total (2 units)			$2,419

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 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1814 N Avenue 1/2 Unit 1/2 REAR Galveston, TX	2.0	1.0	1715	$1,550	$0.90	24d	1	0.24mi
1807 N AVE Unit 2 Galveston, TX	3.0	1.0	1248	$1,450	$1.16	22d	1	0.27mi
1927 Avenue M 1/2 Galveston, TX	3.0	1.0	1085	$1,699	$1.57	12d	3	0.30mi
1801 Rosenberg St Unit HOUSE Galveston, TX	3.0	3.5	1288	$2,700	$2.10	44d	1	0.37mi
2814 Avenue O 1/2 Galveston, TX	2.0	1.0	1105	$1,400	$1.27	44d	1	0.61mi
2001 29th St Galveston, TX	2.0	1.0	1109	$1,400	$1.26	44d	1	0.67mi
1801 Church St Unit RL80 1801 Church up Galveston, TX	1.0	1.0	1100	$1,200	$1.09	44d	1	0.83mi
2915 Avenue H Galveston, TX	2.0–3.0	1.5–3.0	1118	$1,750	$1.57	1d	15	0.97mi
1124 Church St Galveston, TX	3.0	2.0	1868	$3,500	$1.87	44d	1	1.04mi
2221 35th St Unit UP Galveston, TX	2.0	1.0	1080	$1,300	$1.20	19d	1	1.12mi
2221 35th St Galveston, TX	2.0	1.0	1080	$1,300	$1.20	15d	1	1.12mi
1524 Avenue B Galveston, TX	1.0–3.0	1.0–2.5	1067	$1,775	$1.66	19d	11	1.14mi
912 Church St Galveston, TX	3.0	1.0	1200	$1,200	$1.00	44d	1	1.14mi
2427 35th St Galveston, TX	3.0	2.5	1540	$2,500	$1.62	44d	1	1.15mi
3602 Avenue Q 1/2 Galveston, TX	2.0	1.0	1416	$2,500	$1.77	44d	1	1.17mi
711 7th St Unit 5 Galveston, TX	2.0	2.0	1200	$1,800	$1.50	24d	1	1.20mi
3523 Avenue L Unit L Galveston, TX	3.0	2.0	1500	$2,250	$1.50	44d	1	1.21mi
711 Holiday Dr Unit 42 Galveston, TX	2.0	2.5	1200	$1,500	$1.25	44d	1	1.34mi
417 Church St Galveston, TX	1.0–3.0	1.0–2.0	875	$1,118	$1.28	2d	15	1.38mi
3808 Avenue L Unit L Galveston, TX	3.0	2.0	1800	$2,250	$1.25	44d	1	1.39mi
3828 S Avenue 1/2 Galveston, TX	2.0	1.0	1770	$1,600	$0.90	21d	1	1.42mi
302 Church St Galveston, TX	3.0	2.0	1600	$1,600	$1.00	44d	1	1.49mi

Listing history 24 events

1. 2026-06-18
   days on market $250,000 Active 272 DOM
2. 2026-06-17
   days on market $250,000 Active 271 DOM
3. 2026-06-16
   days on market $250,000 Active 270 DOM
4. 2026-06-15
   price $250,000 Active 269 DOM
5. 2026-06-15
   days on market $265,000 Active 269 DOM
6. 2026-06-13
   days on market $265,000 Active 267 DOM
7. 2026-06-09
   days on market $265,000 Active 263 DOM
8. 2026-06-08
   days on market $265,000 Active 262 DOM
9. 2026-06-07
   days on market $265,000 Active 261 DOM
10. 2026-06-04
    days on market $265,000 Active 258 DOM
11. 2026-06-03
    days on market $265,000 Active 257 DOM
12. 2026-06-02
    days on market $265,000 Active 256 DOM
13. 2026-06-01
    days on market $265,000 Active 255 DOM
14. 2026-05-31
    days on market $265,000 Active 254 DOM
15. 2026-04-30
    price $265,000 781-char remark

    Show marketing remark (781 chars)

    Welcome to this duplex opportunity, located just one block from The Seawall and right behind The Grand Galvez. This property offers the perfect blend of charm, location, and investment potential. It’s ideal for a primary residence, vacation getaway, or an income producing rental. The downstairs unit features an one bedroom and one and a half bathrooms with an open living area to the kitchen. The upstairs unit is one bedroom and one bathroom with an open living area as well. Both have their own utility room with a full size washer and dryer. The duplex could be a great long term rental or short term vacation rental. With its proximity to the beach, dining, and The Strand, this duplex is a true gem for those looking to enjoy everything Galveston has to offer.

16. 2026-03-03
    price $285,000 781-char remark

    Show marketing remark (781 chars)

    Welcome to this duplex opportunity, located just one block from The Seawall and right behind The Grand Galvez. This property offers the perfect blend of charm, location, and investment potential. It’s ideal for a primary residence, vacation getaway, or an income producing rental. The downstairs unit features an one bedroom and one and a half bathrooms with an open living area to the kitchen. The upstairs unit is one bedroom and one bathroom with an open living area as well. Both have their own utility room with a full size washer and dryer. The duplex could be a great long term rental or short term vacation rental. With its proximity to the beach, dining, and The Strand, this duplex is a true gem for those looking to enjoy everything Galveston has to offer.

17. 2026-03-01
    historical $1,200
18. 2025-12-01
    listed $1,200
19. 2025-10-26
    price $295,000 781-char remark

    Show marketing remark (781 chars)

    Welcome to this duplex opportunity, located just one block from The Seawall and right behind The Grand Galvez. This property offers the perfect blend of charm, location, and investment potential. It’s ideal for a primary residence, vacation getaway, or an income producing rental. The downstairs unit features an one bedroom and one and a half bathrooms with an open living area to the kitchen. The upstairs unit is one bedroom and one bathroom with an open living area as well. Both have their own utility room with a full size washer and dryer. The duplex could be a great long term rental or short term vacation rental. With its proximity to the beach, dining, and The Strand, this duplex is a true gem for those looking to enjoy everything Galveston has to offer.

20. 2025-09-20
    listed $310,000 Active 781-char remark

    Show marketing remark (781 chars)

    Welcome to this duplex opportunity, located just one block from The Seawall and right behind The Grand Galvez. This property offers the perfect blend of charm, location, and investment potential. It’s ideal for a primary residence, vacation getaway, or an income producing rental. The downstairs unit features an one bedroom and one and a half bathrooms with an open living area to the kitchen. The upstairs unit is one bedroom and one bathroom with an open living area as well. Both have their own utility room with a full size washer and dryer. The duplex could be a great long term rental or short term vacation rental. With its proximity to the beach, dining, and The Strand, this duplex is a true gem for those looking to enjoy everything Galveston has to offer.

21. 2018-05-14
    soldstatus Sold 635-char remark

    Show marketing remark (635 chars)

    Perfect Home for those who are looking for split family living or an investor looking to make consistent rental income. There are two separate units. Downstairs has 1 bedroom, 1.5 bathroom, laundry room, den, dining and kitchen combo and fully fenced back yard. The upstairs has 1 bedroom, 1 bathroom, laundry room, porch and an open living space including living, dining and kitchen. Sellers have priced to sell & selling "as is", "where is". Call today for your private showing! This one will not last long! Great Location. .. It's only 1 block from the beach and all the entertainment. .. Give us a call.

22. 2018-04-29
    status Pending 635-char remark

    Show marketing remark (635 chars)

    Perfect Home for those who are looking for split family living or an investor looking to make consistent rental income. There are two separate units. Downstairs has 1 bedroom, 1.5 bathroom, laundry room, den, dining and kitchen combo and fully fenced back yard. The upstairs has 1 bedroom, 1 bathroom, laundry room, porch and an open living space including living, dining and kitchen. Sellers have priced to sell & selling "as is", "where is". Call today for your private showing! This one will not last long! Great Location. .. It's only 1 block from the beach and all the entertainment. .. Give us a call.

23. 2018-03-31
    status Pending, Continue to Show 635-char remark

    Show marketing remark (635 chars)

    Perfect Home for those who are looking for split family living or an investor looking to make consistent rental income. There are two separate units. Downstairs has 1 bedroom, 1.5 bathroom, laundry room, den, dining and kitchen combo and fully fenced back yard. The upstairs has 1 bedroom, 1 bathroom, laundry room, porch and an open living space including living, dining and kitchen. Sellers have priced to sell & selling "as is", "where is". Call today for your private showing! This one will not last long! Great Location. .. It's only 1 block from the beach and all the entertainment. .. Give us a call.

24. 2018-02-22
    listed $179,000 Active 635-char remark

    Show marketing remark (635 chars)

    Perfect Home for those who are looking for split family living or an investor looking to make consistent rental income. There are two separate units. Downstairs has 1 bedroom, 1.5 bathroom, laundry room, den, dining and kitchen combo and fully fenced back yard. The upstairs has 1 bedroom, 1 bathroom, laundry room, porch and an open living space including living, dining and kitchen. Sellers have priced to sell & selling "as is", "where is". Call today for your private showing! This one will not last long! Great Location. .. It's only 1 block from the beach and all the entertainment. .. Give us a call.

ⓘ 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: $4,378 · $365/mo
• Projected year-2 tax: $4,575 · $381/mo
• Expected delta: +$197/yr (+$16/mo · 4.5%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 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: $29,028
• − Mortgage interest: −$14,004
• − Property taxes: −$4,378
• − Insurance: −$2,048
• − Repairs & maintenance: −$2,322
• − Management: −$2,322
• − Depreciation: −$7,273
• Taxable loss: −$3,319
• Est. tax savings @ 24.0%: +$797
• After-tax cash flow: $1,571/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

+48.0% since first listed

10 events — show timeline

• 2026-04-30 Price Changed $265,000 HARMLS
• 2026-03-03 Price Changed $285,000 HARMLS
• 2026-03-01 Rental Removed $1,200 HARMLS
• 2025-12-01 Listed for Rent $1,200 HARMLS
• 2025-10-26 Price Changed $295,000 HARMLS
• 2025-09-20 Listed $310,000 HARMLS
• 2018-05-14 Sold (MLS) — HARMLS
• 2018-04-29 Pending — HARMLS
• 2018-03-31 Pending — HARMLS
• 2018-02-22 Listed $179,000 HARMLS

Property tax history

+6.8%/yr

Latest (2025): $4,378 · +19.2% YoY. Source: county tax records.