4725 Avenue R 1/2 · Galveston, TX 77551

$350,000

15 bd · 3.0 ba · 1,932 sqft · MultiFamily public records · 349 Days on market

Built 1955 5,100 sqft lot $181/sqft · 30% above area Est $339k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.1/15.0
• 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: 3 units. confirmed

Listing remarks MLS

This very well-maintained apartment building located in Galveston, Texas. In a peaceful Neighborhood within walking distance to the beach. It houses 4 tastefully designed units. It is close to everything the Island has to offer but far enough off the major roads to be nice and quiet. The main house has three units and one unit over the garage. it has three, one-bedroom units with a bath, kitchen and den. One, two bed room unit with a large kitchen and dining area. It is fully occupied. Rent payments are below market. Nice back balcony.

Key facts

• Quiet location
• Back balcony
• 5,100 sq ft lot

Tags

• WALKING DISTANCE TO THE BEACH
• TASTEFULLY DESIGNED UNITS
• QUIET LOCATION
• BACK BALCONY

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/?-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $537/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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 rising fast (+4.3%/yr); 380 active listings in the ZIP; 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).
• At $5,375/mo this rent would consume 111% 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 $10k 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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $98k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 349 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 22y ago; this cycle's ask has dropped $25k (7%) 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; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $308,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 349 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 1955 — 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: 1.54% ✓
• Cap rate: 12.04%
• Cash-on-cash: 20.52%
• DSCR: 1.91
• GRM: 5.4

CMA / ARV

• ARV (median comp): $339,217
• List price: $350,000
• Delta: 3.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.3%
• Equity multiple: 1.54×
• Total profit: $53,021
• Equity at exit: $52,186

10-year hold

• IRR: 23.2%
• Equity multiple: 3.13×
• Total profit: $208,569
• Equity at exit: $30,262

Cash invested: $98,000 (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: 380
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $5,375 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$589 /mo · $7,068/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,129
• Net cashflow: $1,610

Break-even live

Break-even rent $3,338

Max offer price $350,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	—	$5,376
Total (3 units)			$5,375

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-18
   days on market $350,000 Active 349 DOM
2. 2026-06-17
   days on market $350,000 Active 348 DOM
3. 2026-06-16
   days on market $350,000 Active 347 DOM
4. 2026-06-15
   days on market $350,000 Active 346 DOM
5. 2026-06-13
   days on market $350,000 Active 344 DOM
6. 2026-06-09
   days on market $350,000 Active 340 DOM
7. 2026-06-08
   days on market $350,000 Active 339 DOM
8. 2026-06-07
   days on market $350,000 Active 338 DOM
9. 2026-06-04
   days on market $350,000 Active 335 DOM
10. 2026-06-03
    days on market $350,000 Active 334 DOM
11. 2026-06-02
    days on market $350,000 Active 333 DOM
12. 2026-05-31
    days on market $350,000 Active 332 DOM
13. 2026-02-12
    status Active 541-char remark

    Show marketing remark (541 chars)

    This very well-maintained apartment building located in Galveston, Texas. In a peaceful Neighborhood within walking distance to the beach. It houses 4 tastefully designed units. It is close to everything the Island has to offer but far enough off the major roads to be nice and quiet. The main house has three units and one unit over the garage. it has three, one-bedroom units with a bath, kitchen and den. One, two bed room unit with a large kitchen and dining area. It is fully occupied. Rent payments are below market. Nice back balcony.

14. 2026-01-31
    historical 541-char remark

    Show marketing remark (541 chars)

    This very well-maintained apartment building located in Galveston, Texas. In a peaceful Neighborhood within walking distance to the beach. It houses 4 tastefully designed units. It is close to everything the Island has to offer but far enough off the major roads to be nice and quiet. The main house has three units and one unit over the garage. it has three, one-bedroom units with a bath, kitchen and den. One, two bed room unit with a large kitchen and dining area. It is fully occupied. Rent payments are below market. Nice back balcony.

15. 2025-09-17
    status Active 541-char remark

    Show marketing remark (541 chars)

    This very well-maintained apartment building located in Galveston, Texas. In a peaceful Neighborhood within walking distance to the beach. It houses 4 tastefully designed units. It is close to everything the Island has to offer but far enough off the major roads to be nice and quiet. The main house has three units and one unit over the garage. it has three, one-bedroom units with a bath, kitchen and den. One, two bed room unit with a large kitchen and dining area. It is fully occupied. Rent payments are below market. Nice back balcony.

16. 2025-09-17
    price $350,000 541-char remark

    Show marketing remark (541 chars)

    This very well-maintained apartment building located in Galveston, Texas. In a peaceful Neighborhood within walking distance to the beach. It houses 4 tastefully designed units. It is close to everything the Island has to offer but far enough off the major roads to be nice and quiet. The main house has three units and one unit over the garage. it has three, one-bedroom units with a bath, kitchen and den. One, two bed room unit with a large kitchen and dining area. It is fully occupied. Rent payments are below market. Nice back balcony.

17. 2025-07-14
    status Pending 541-char remark

    Show marketing remark (541 chars)

    This very well-maintained apartment building located in Galveston, Texas. In a peaceful Neighborhood within walking distance to the beach. It houses 4 tastefully designed units. It is close to everything the Island has to offer but far enough off the major roads to be nice and quiet. The main house has three units and one unit over the garage. it has three, one-bedroom units with a bath, kitchen and den. One, two bed room unit with a large kitchen and dining area. It is fully occupied. Rent payments are below market. Nice back balcony.

18. 2025-07-02
    price $360,000 541-char remark

    Show marketing remark (541 chars)

    This very well-maintained apartment building located in Galveston, Texas. In a peaceful Neighborhood within walking distance to the beach. It houses 4 tastefully designed units. It is close to everything the Island has to offer but far enough off the major roads to be nice and quiet. The main house has three units and one unit over the garage. it has three, one-bedroom units with a bath, kitchen and den. One, two bed room unit with a large kitchen and dining area. It is fully occupied. Rent payments are below market. Nice back balcony.

19. 2025-04-14
    listed $375,000 Active 541-char remark

    Show marketing remark (541 chars)

    This very well-maintained apartment building located in Galveston, Texas. In a peaceful Neighborhood within walking distance to the beach. It houses 4 tastefully designed units. It is close to everything the Island has to offer but far enough off the major roads to be nice and quiet. The main house has three units and one unit over the garage. it has three, one-bedroom units with a bath, kitchen and den. One, two bed room unit with a large kitchen and dining area. It is fully occupied. Rent payments are below market. Nice back balcony.

20. 2025-03-31
    historical
21. 2024-11-02
    listed $375,000 Active
22. 2018-10-04
    soldstatus Sold
23. 2018-09-19
    soldstatus
24. 2018-08-13
    status Pending
25. 2018-08-06
    status Option Pending
26. 2018-05-16
    listed $229,000 Active
27. 2013-07-23
    historical
28. 2013-01-23
    listed $189,900
29. 2011-11-29
    historical
30. 2011-06-10
    listed $199,000
31. 2010-08-05
    historical
32. 2010-02-05
    listed $209,000
33. 2006-07-27
    soldstatus
34. 2005-11-04
    historical
35. 2005-06-08
    listed $137,900
36. 2005-06-03
    historical
37. 2004-12-13
    listed $148,000

ⓘ 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: $7,068 · $589/mo
• Projected year-2 tax: $7,068 · $589/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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) · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 25 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: $64,500
• − Mortgage interest: −$19,605
• − Property taxes: −$7,068
• − Insurance: −$2,548
• − Repairs & maintenance: −$5,160
• − Management: −$5,160
• − Depreciation: −$10,182
• Taxable income: $14,777
• Est. tax owed @ 24.0%: −$3,547
• After-tax cash flow: $15,768/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

+136.5% since first listed

25 events — show timeline

• 2026-02-12 Relisted — HARMLS
• 2026-01-31 Listing Removed — HARMLS
• 2025-09-17 Relisted — HARMLS
• 2025-09-17 Price Changed $350,000 HARMLS
• 2025-07-14 Pending — HARMLS
• 2025-07-02 Price Changed $360,000 HARMLS
• 2025-04-14 Listed $375,000 HARMLS
• 2025-03-31 Listing Removed — HARMLS
• 2024-11-02 Listed $375,000 HARMLS
• 2018-10-04 Sold (MLS) — HARMLS
• 2018-09-19 Sold (Public Records) — Public Records
• 2018-08-13 Pending — HARMLS
• 2018-08-06 Pending — HARMLS
• 2018-05-16 Listed $229,000 HARMLS
• 2013-07-23 Listing Removed — HARMLS
• 2013-01-23 Listed $189,900 HARMLS
• 2011-11-29 Listing Removed — HARMLS
• 2011-06-10 Listed $199,000 HARMLS
• 2010-08-05 Listing Removed — HARMLS
• 2010-02-05 Listed $209,000 HARMLS
• 2006-07-27 Sold (Public Records) — Public Records
• 2005-11-04 Listing Removed — HARMLS
• 2005-06-08 Listed $137,900 HARMLS
• 2005-06-03 Listing Removed — HARMLS
• 2004-12-13 Listed $148,000 HARMLS

Property tax history

+9.0%/yr

Latest (2025): $7,068 · +17.6% YoY. Source: county tax records.