1626 Church St · Galveston, TX 77550

$198,500

2 bd · 2.0 ba · 2,076 sqft · MultiFamily public records · 222 Days on market

Built 1886 3,440 sqft lot $96/sqft · 54% below area ↓ 37% since listing

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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 +28.0/30.0
• DSCR +9.9/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• 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

Circa 1886, according to old insurance records that are available in the attachments to the listing. Historic duplex in the heart of the East End Historical District. The property is in need of substantial renovation. The bottom unit has the address of 1626 Church and the upstairs unit has the address of 1628 Church. There is a separate front entrance to both units and in the foyer of the upstairs unit is a door to the downstairs unit. The floor plan is the same for both units. The interior staircase appears to be original. There is an interesting exterior shingled apron around the bottom of the second floor around the outside of most of the house. Fully fenced, this is a corner property. There are WPI-8 windstorm certificates in the attachments to the listing along with the elevation certificate.

Key facts

• Fully fenced
• Historic duplex
• 3,440 sq ft lot

Tags

• HISTORIC DUPLEX
• EAST END HISTORICAL DISTRICT
• SUBSTANTIAL RENOVATION
• SEPARATE FRONT ENTRANCE
• ORIGINAL INTERIOR STAIRCASE
• FULLY FENCED

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $198k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive. Per door: $95/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $198k).
• Recommended offer: $175k (12.0% 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $2,588/mo this rent would consume 69% 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 $6k 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 222 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1886 — 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 $174,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 222 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 1886 — 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: 1.30% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.30%
• DSCR: 1.59
• GRM: 6.4

CMA / ARV

• ARV (median comp): $429,339
• List price: $198,500
• Delta: -53.77%
• 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
827 Winnie St	0.58mi	2/2.0	2,051 (-1%)	1mo	$595,000	$290	70
1124 Winnie St	0.37mi	2/1.0	2,128 (+2%)	8mo	$469,500	$221	68
1801 Avenue M 1/2	0.55mi	3/2.0 (+1)	1,864 (-10%)	24mo	$435,000	$233	33

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: -14.3%
• Equity multiple: 0.51×
• Total profit: $-27,340
• Equity at exit: $29,597

10-year hold

• IRR: -13.7%
• Equity multiple: 0.35×
• Total profit: $-36,205
• Equity at exit: $17,163

Cash invested: $55,580 (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: 12.8×

Monthly cashflow live

• Estimated rent: $2,588 high
• Mortgage (P&I): −$1,041
• Tax from tax record: −$305 /mo · $3,657/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $190

Break-even live

Break-even rent $2,348

Max offer price $198,500

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,588
Total (2 units)			$2,588

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: $49,625
• Closing costs: $5,955
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1524 Avenue B Galveston, TX	1.0–3.0	1.0–2.5	1067	$1,775	$1.66	18d	11	0.24mi
1124 Church St Galveston, TX	3.0	2.0	1868	$3,500	$1.87	43d	1	0.35mi
1814 N Avenue 1/2 Unit 1/2 REAR Galveston, TX	2.0	1.0	1715	$1,550	$0.90	24d	1	0.67mi
302 Church St Galveston, TX	3.0	2.0	1600	$1,600	$1.00	43d	1	0.97mi
515 1st St Galveston, TX	1.0–3.0	1.0–2.0	1231	$1,214	$0.99	2d	5	1.11mi
3523 Avenue L Unit L Galveston, TX	3.0	2.0	1500	$2,250	$1.50	43d	1	1.45mi

Listing history 18 events

1. 2026-06-18
   days on market $198,500 Active 222 DOM
2. 2026-06-17
   days on market $198,500 Active 221 DOM
3. 2026-06-16
   days on market $198,500 Active 220 DOM
4. 2026-06-15
   days on market $198,500 Active 219 DOM
5. 2026-06-13
   days on market $198,500 Active 217 DOM
6. 2026-06-09
   days on market $198,500 Active 213 DOM
7. 2026-06-08
   days on market $198,500 Active 212 DOM
8. 2026-06-07
   days on market $198,500 Active 211 DOM
9. 2026-06-04
   days on market $198,500 Active 208 DOM
10. 2026-06-03
    days on market $198,500 Active 207 DOM
11. 2026-06-02
    days on market $198,500 Active 206 DOM
12. 2026-06-01
    days on market $198,500 Active 205 DOM
13. 2026-05-31
    days on market $198,500 Active 204 DOM
14. 2026-04-25
    price $198,500 809-char remark

    Show marketing remark (809 chars)

    Circa 1886, according to old insurance records that are available in the attachments to the listing. Historic duplex in the heart of the East End Historical District. The property is in need of substantial renovation. The bottom unit has the address of 1626 Church and the upstairs unit has the address of 1628 Church. There is a separate front entrance to both units and in the foyer of the upstairs unit is a door to the downstairs unit. The floor plan is the same for both units. The interior staircase appears to be original. There is an interesting exterior shingled apron around the bottom of the second floor around the outside of most of the house. Fully fenced, this is a corner property. There are WPI-8 windstorm certificates in the attachments to the listing along with the elevation certificate.

15. 2026-02-27
    price $249,500 809-char remark

    Show marketing remark (809 chars)

    Circa 1886, according to old insurance records that are available in the attachments to the listing. Historic duplex in the heart of the East End Historical District. The property is in need of substantial renovation. The bottom unit has the address of 1626 Church and the upstairs unit has the address of 1628 Church. There is a separate front entrance to both units and in the foyer of the upstairs unit is a door to the downstairs unit. The floor plan is the same for both units. The interior staircase appears to be original. There is an interesting exterior shingled apron around the bottom of the second floor around the outside of most of the house. Fully fenced, this is a corner property. There are WPI-8 windstorm certificates in the attachments to the listing along with the elevation certificate.

16. 2026-01-30
    price $284,500 809-char remark

    Show marketing remark (809 chars)

    Circa 1886, according to old insurance records that are available in the attachments to the listing. Historic duplex in the heart of the East End Historical District. The property is in need of substantial renovation. The bottom unit has the address of 1626 Church and the upstairs unit has the address of 1628 Church. There is a separate front entrance to both units and in the foyer of the upstairs unit is a door to the downstairs unit. The floor plan is the same for both units. The interior staircase appears to be original. There is an interesting exterior shingled apron around the bottom of the second floor around the outside of most of the house. Fully fenced, this is a corner property. There are WPI-8 windstorm certificates in the attachments to the listing along with the elevation certificate.

17. 2025-12-03
    price $299,500 809-char remark

    Show marketing remark (809 chars)

    Circa 1886, according to old insurance records that are available in the attachments to the listing. Historic duplex in the heart of the East End Historical District. The property is in need of substantial renovation. The bottom unit has the address of 1626 Church and the upstairs unit has the address of 1628 Church. There is a separate front entrance to both units and in the foyer of the upstairs unit is a door to the downstairs unit. The floor plan is the same for both units. The interior staircase appears to be original. There is an interesting exterior shingled apron around the bottom of the second floor around the outside of most of the house. Fully fenced, this is a corner property. There are WPI-8 windstorm certificates in the attachments to the listing along with the elevation certificate.

18. 2025-11-06
    listed $312,616 Active 809-char remark

    Show marketing remark (809 chars)

    Circa 1886, according to old insurance records that are available in the attachments to the listing. Historic duplex in the heart of the East End Historical District. The property is in need of substantial renovation. The bottom unit has the address of 1626 Church and the upstairs unit has the address of 1628 Church. There is a separate front entrance to both units and in the foyer of the upstairs unit is a door to the downstairs unit. The floor plan is the same for both units. The interior staircase appears to be original. There is an interesting exterior shingled apron around the bottom of the second floor around the outside of most of the house. Fully fenced, this is a corner property. There are WPI-8 windstorm certificates in the attachments to the listing along with the elevation certificate.

ⓘ 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: $3,657 · $305/mo
• Projected year-2 tax: $3,657 · $305/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $31,056
• − Mortgage interest: −$11,119
• − Property taxes: −$3,657
• − Insurance: −$6,111
• − Repairs & maintenance: −$2,484
• − Management: −$2,484
• − Depreciation: −$5,775
• Taxable loss: −$574
• Est. tax savings @ 24.0%: +$138
• After-tax cash flow: $2,413/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

-36.5% since first listed

5 events — show timeline

• 2026-04-25 Price Changed $198,500 HARMLS
• 2026-02-27 Price Changed $249,500 HARMLS
• 2026-01-30 Price Changed $284,500 HARMLS
• 2025-12-03 Price Changed $299,500 HARMLS
• 2025-11-06 Listed $312,616 HARMLS

Property tax history

+5.4%/yr

Latest (2025): $3,657 · +19.2% YoY. Source: county tax records.