3027 Avenue L · Galveston, TX 77550

$229,000

3 bd · 1.0 ba · 1,336 sqft · SingleFamily public records · 92 Days on market

Built 1955 2,600 sqft lot $171/sqft · 7% below area Est $343k · 33% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +8.6/30.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 3027 Avenue L, situated on a corner lot. This beautiful two story Colonial style home, is used as a vacation house and producing income on AirBnb which can be a great investment return! The house has 3 generous sized bedrooms, original hardwood floor and is ready to move in, with new construction all around. Just 2 minutes drive to the historic beach and Galveston's pleasure pier and less then 3 minutes to downtown. Location is ideal for a primary residency or as vacation house. Lots of dining, cafes and shops are in the area for the convenience.

Key facts

• Historic beach
• Producing income
• Downtown

Tags

• CORNER LOT
• PRODUCING INCOME
• HISTORIC BEACH
• GALVESTON'S PLEASURE PIER
• DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-624 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (48.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (18.2% below list).
• Recommended offer: $119k (48.1% below list) — sets the bar for cash-flow.
• Cap rate 5.3% 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; 39 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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 $1,872/mo this rent would consume 50% 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 $7k 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 92 days — a 9% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1955 — 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 $118,816 (48.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.69%
• DSCR: 0.84
• GRM: 10.2

CMA / ARV

• ARV (median comp): $342,731
• List price: $229,000
• Delta: -33.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3210 Ursuline St	0.20mi	2/2.0 (-1)	1,256 (-6%)	1mo	$279,500	$223	71
3535 Avenue M	0.38mi	4/2.0 (+1)	1,420 (+6%)	0mo	$355,000	$250	62
3609 Avenue O	0.51mi	3/2.0	1,394 (+4%)	6mo	$325,000	$233	60
3905 Avenue L	0.61mi	3/1.5	1,408 (+5%)	2mo	$215,000	$153	59
3533 Avenue M	0.38mi	4/2.0 (+1)	1,420 (+6%)	5mo	$359,500	$253	59
3513 Ursuline St	0.38mi	3/4.0	1,220 (-9%)	1mo	$269,900	$221	55
2714 Avenue K	0.26mi	2/2.0 (-1)	1,139 (-15%)	1mo	$379,000	$333	53
4017 Avenue L	0.70mi	3/2.0	1,404 (+5%)	2mo	$285,000	$203	53
3024 Avenue R	0.66mi	3/1.0	1,242 (-7%)	5mo	$199,000	$160	53
3602 Avenue K	0.39mi	2/2.0 (-1)	1,208 (-10%)	6mo	$187,750	$155	52
2412 Winnie St	0.59mi	3/2.5	1,458 (+9%)	1mo	$249,900	$171	51
4016 Ursuline St	0.71mi	2/1.0 (-1)	1,138 (-15%)	1mo	$149,000	$131	36

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: -42.5%
• Equity multiple: -0.28×
• Total profit: $-81,972
• Equity at exit: $34,145

10-year hold

• IRR: —
• Equity multiple: -1.22×
• Total profit: $-142,323
• Equity at exit: $19,800

Cash invested: $64,120 (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: 10.2×

Monthly cashflow live

• Estimated rent: $1,872 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$380 /mo · $4,559/yr
• Insurance: −$95
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $-624

Break-even live

Break-even rent $2,662

Max offer price $118,816

Occupancy floor —

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3002 Avenue K Galveston, TX	4.0	2.5	1500	$3,175	$2.12	44d	1	0.08mi
2727 Avenue K Galveston, TX	3.0	1.0	972	$1,900	$1.95	44d	1	0.19mi
2711 Avenue K Unit 12 Galveston, TX	3.0	1.0	950	$1,325	$1.39	44d	1	0.24mi
2711 Avenue K Unit 9 Galveston, TX	3.0	1.0	950	$1,650	$1.74	21d	1	0.24mi
2711 Avenue K Unit 10 Galveston, TX	3.0	1.0	950	$1,295	$1.36	21d	1	0.24mi
2921 Avenue H Unit H Galveston, TX	2.0	2.0	925	$1,263	$1.37	44d	1	0.25mi
2915 Avenue H Galveston, TX	2.0–3.0	1.5–3.0	1118	$2,100	$1.88	1d	15	0.25mi
3409 Avenue L Unit Le Bleu Sirene Galveston, TX	2.0	1.0	1006	$1,600	$1.59	44d	1	0.28mi
3501 Avenue M Galveston, TX	3.0	1.0	950	$1,240	$1.31	44d	1	0.35mi
3523 Avenue L Unit L Galveston, TX	3.0	2.0	1500	$2,250	$1.50	44d	1	0.38mi
2814 Avenue O 1/2 Galveston, TX	2.0	1.0	1105	$1,400	$1.27	44d	1	0.39mi
2001 29th St Galveston, TX	2.0	1.0	1109	$1,400	$1.26	44d	1	0.52mi
3718 Avenue M 1/2 Unit Rear Up Galveston, TX	3.0	1.0	936	$1,275	$1.36	44d	1	0.52mi
1801 Rosenberg St Unit HOUSE Galveston, TX	3.0	3.5	1288	$2,700	$2.10	44d	1	0.55mi
3010 Avenue Q Galveston, TX	2.0	1.0	1045	$1,400	$1.34	44d	1	0.55mi
3808 Avenue L Unit L Galveston, TX	3.0	2.0	1800	$2,250	$1.25	44d	1	0.57mi
3602 Avenue Q 1/2 Galveston, TX	2.0	1.0	1416	$2,500	$1.77	44d	1	0.74mi
4025 Avenue M Unit M Galveston, TX	3.0	3.0	1628	$2,490	$1.53	44d	1	0.74mi
2221 35th St Unit UP Galveston, TX	2.0	1.0	1080	$1,300	$1.20	19d	1	0.75mi
2221 35th St Galveston, TX	2.0	1.0	1080	$1,300	$1.20	15d	1	0.75mi
1927 Avenue M 1/2 Galveston, TX	3.0	1.0	1085	$1,699	$1.57	11d	3	0.78mi
4020 Avenue O 1/2 Galveston, TX	3.0	1.0	916	$1,350	$1.47	1d	1	0.82mi
2427 35th St Galveston, TX	3.0	2.5	1540	$2,500	$1.62	44d	1	0.87mi
4217 Sealy St Galveston, TX	2.0	1.0	900	$850	$0.94	44d	1	0.89mi
1814 N Avenue 1/2 Unit 1/2 REAR Galveston, TX	2.0	1.0	1715	$1,550	$0.90	24d	1	0.90mi
1807 N AVE Unit 2 Galveston, TX	3.0	1.0	1248	$1,450	$1.16	22d	1	0.91mi
4309 Ursuline Ave Unit 1flr Galveston, TX	2.0	1.0	1600	$1,500	$0.94	44d	1	0.96mi
4406 Avenue N Galveston, TX	2.0	2.0	1197	$1,230	$1.03	4d	1	0.99mi
3828 S Avenue 1/2 Galveston, TX	2.0	1.0	1770	$1,600	$0.90	21d	1	1.06mi
1524 Avenue B Galveston, TX	1.0–3.0	1.0–2.5	1067	$2,100	$1.97	19d	11	1.25mi
606 14th St Galveston, TX	2.0	1.0	900	$1,700	$1.89	44d	1	1.26mi
1526 Harborside Dr Galveston, TX	2.0	1.0	1034	$1,662	$1.61	44d	1	1.28mi
4420 Avenue T Galveston, TX	3.0	2.0	1260	$2,100	$1.67	44d	1	1.38mi
1124 Church St Galveston, TX	3.0	2.0	1868	$3,500	$1.87	44d	1	1.42mi
1002 11th St #8 Galveston, TX	2.0	1.0	900	$1,500	$1.67	11d	1	1.42mi
525 11th St Galveston, TX	2.0	2.0	960	$1,295	$1.35	44d	1	1.45mi
4824 Avenue R Galveston, TX	2.0	2.0	1250	$1,300	$1.04	44d	1	1.48mi
4818 Avenue R 1/2 Galveston, TX	1.0–3.0	1.0–2.0	1264	$1,875	$1.48	1d	2	1.49mi
5006 Bernardo De Galvez Ave Unit RL14 Galveston, TX	2.0	1.0	1080	$1,350	$1.25	44d	1	1.49mi

Listing history 33 events

1. 2026-06-18
   days on market $229,000 Active 92 DOM
2. 2026-06-17
   days on market $229,000 Active 91 DOM
3. 2026-06-16
   days on market $229,000 Active 90 DOM
4. 2026-06-15
   days on market $229,000 Active 89 DOM
5. 2026-06-13
   days on market $229,000 Active 87 DOM
6. 2026-06-09
   days on market $229,000 Active 83 DOM
7. 2026-06-08
   days on market $229,000 Active 82 DOM
8. 2026-06-07
   days on market $229,000 Active 81 DOM
9. 2026-06-04
   days on market $229,000 Active 78 DOM
10. 2026-06-03
    days on market $229,000 Active 77 DOM
11. 2026-06-02
    days on market $229,000 Active 76 DOM
12. 2026-06-01
    days on market $229,000 Active 75 DOM
13. 2026-05-31
    days on market $229,000 Active 74 DOM
14. 2026-03-19
    listed $229,000 Active 563-char remark

    Show marketing remark (563 chars)

    Welcome to 3027 Avenue L, situated on a corner lot. This beautiful two story Colonial style home, is used as a vacation house and producing income on AirBnb which can be a great investment return! The house has 3 generous sized bedrooms, original hardwood floor and is ready to move in, with new construction all around. Just 2 minutes drive to the historic beach and Galveston's pleasure pier and less then 3 minutes to downtown. Location is ideal for a primary residency or as vacation house. Lots of dining, cafes and shops are in the area for the convenience.

15. 2025-04-08
    historical $1,900
16. 2025-02-25
    price $1,900
17. 2024-10-09
    listed $2,000
18. 2016-03-18
    soldstatus
19. 2016-01-04
    soldstatus
20. 2012-08-28
    soldstatus
21. 2012-08-24
    soldstatus 485-char remark

    Show marketing remark (485 chars)

    A BRIDGEBILT PRODUCT. TOTALLY RENOVATED 3/1 Two Story Move-In Ready On CORNER Lot. UPDATED Kitchen w/ NEW Cabinets & GRANITE Counters, Custom Travertine Tile Backsplash, NEW Appliances. NEW Faucets & Light Fixtures throughout. Living Room w/ HARDWOOD Floors & NEW CARPET Upstairs. Oversized Tile Floors in Kitchen & Bathroom. NEW A/C Units. Recent Roof. Updated Water Heater & Electrical. Home has been Completely Rehabbed, Turn-Key & Move-In Ready.

22. 2012-08-16
    historical 485-char remark

    Show marketing remark (485 chars)

    A BRIDGEBILT PRODUCT. TOTALLY RENOVATED 3/1 Two Story Move-In Ready On CORNER Lot. UPDATED Kitchen w/ NEW Cabinets & GRANITE Counters, Custom Travertine Tile Backsplash, NEW Appliances. NEW Faucets & Light Fixtures throughout. Living Room w/ HARDWOOD Floors & NEW CARPET Upstairs. Oversized Tile Floors in Kitchen & Bathroom. NEW A/C Units. Recent Roof. Updated Water Heater & Electrical. Home has been Completely Rehabbed, Turn-Key & Move-In Ready.

23. 2012-07-19
    listed $59,900 485-char remark

    Show marketing remark (485 chars)

    A BRIDGEBILT PRODUCT. TOTALLY RENOVATED 3/1 Two Story Move-In Ready On CORNER Lot. UPDATED Kitchen w/ NEW Cabinets & GRANITE Counters, Custom Travertine Tile Backsplash, NEW Appliances. NEW Faucets & Light Fixtures throughout. Living Room w/ HARDWOOD Floors & NEW CARPET Upstairs. Oversized Tile Floors in Kitchen & Bathroom. NEW A/C Units. Recent Roof. Updated Water Heater & Electrical. Home has been Completely Rehabbed, Turn-Key & Move-In Ready.

24. 2011-08-15
    historical
25. 2010-08-22
    listed $79,500
26. 2010-08-09
    historical
27. 2010-06-06
    listed $83,000
28. 2010-06-01
    historical
29. 2010-04-26
    listed $83,000
30. 2010-04-17
    historical
31. 2010-03-17
    listed $88,000
32. 2009-03-19
    historical
33. 2008-11-28
    listed $93,900

ⓘ 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: $4,559 · $380/mo
• Projected year-2 tax: $4,559 · $380/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 9/10 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: $22,466
• − Mortgage interest: −$12,828
• − Property taxes: −$4,559
• − Insurance: −$6,264
• − Repairs & maintenance: −$1,797
• − Management: −$1,797
• − Depreciation: −$6,662
• Taxable loss: −$11,440
• Est. tax savings @ 24.0%: +$2,746
• After-tax cash flow: $-4,739/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

+143.9% since first listed

20 events — show timeline

• 2026-03-19 Listed $229,000 HARMLS
• 2025-04-08 Rental Removed $1,900 HARMLS
• 2025-02-25 Price Changed $1,900 HARMLS
• 2024-10-09 Listed for Rent $2,000 HARMLS
• 2016-03-18 Sold (Public Records) — Public Records
• 2016-01-04 Sold (Public Records) — Public Records
• 2012-08-28 Sold (Public Records) — Public Records
• 2012-08-24 Sold (MLS) — HARMLS
• 2012-08-16 Listing Removed — HARMLS
• 2012-07-19 Listed $59,900 HARMLS
• 2011-08-15 Listing Removed — HARMLS
• 2010-08-22 Listed $79,500 HARMLS
• 2010-08-09 Listing Removed — HARMLS
• 2010-06-06 Listed $83,000 HARMLS
• 2010-06-01 Listing Removed — HARMLS
• 2010-04-26 Listed $83,000 HARMLS
• 2010-04-17 Listing Removed — HARMLS
• 2010-03-17 Listed $88,000 HARMLS
• 2009-03-19 Listing Removed — HARMLS
• 2008-11-28 Listed $93,900 HARMLS

Property tax history

+13.1%/yr

Latest (2025): $4,559 · +19.2% YoY. Source: county tax records.