17732 Glei · Galveston, TX 77554

$130,000

3 bd · 2.5 ba · 1,725 sqft · SingleFamily public records · 58 Days on market

Built 1985 0.26 ac lot $75/sqft · 79% below area

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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 +7.5/15.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 BED | 2.5 BATH | 1,725 SQFT GALVESTON RETREAT This is a 1/8th interest in the residential property. Coastal residence located in the Karankawa community. 17732 Glei St features a 1,725 sqft floor plan with 3 bedrooms and 2.5 bathrooms. Situated on a cul-de-sac lot on Galveston's West End, the home features high-end finishes and professional management.

Key facts

• 0.26 acre lot
• 3 parking spots
• Built 1985

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $60 ($724/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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 (+6.7%/yr); 1239 active listings in the ZIP; solid renter incomes; 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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 + 6.7% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 17y ago; this cycle's ask is 30% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo.
• Climate carrying-cost: in FEMA flood zone VE (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 $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.58% ✓
• Cap rate: 13.02%
• Cash-on-cash: 24.04%
• DSCR: 2.07
• GRM: 5.3

CMA / ARV

• ARV (median comp): $620,371
• List price: $130,000
• Delta: -79.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17812 Vera Cruz Blvd	0.07mi	4/3.0 (+1)	1,592 (-8%)	3mo	$825,000	$518	74
18302 E De Vaca	0.37mi	3/2.5	1,645 (-5%)	7mo	$725,000	$441	69
18323 Shaman Dr	0.46mi	3/2.0	1,783 (+3%)	9mo	$500,000	$280	64
18310 Shaman Dr	0.42mi	4/3.0 (+1)	1,825 (+6%)	11mo	$619,900	$340	55
18319 Shaman Dr	0.45mi	3/2.0	1,475 (-14%)	8mo	$559,000	$379	46
18026 Shaman Dr	0.48mi	4/2.5 (+1)	1,550 (-10%)	15mo	$549,999	$355	44
18010 Shaman Dr	0.54mi	4/4.0 (+1)	1,954 (+13%)	6mo	$610,000	$312	36
3905 Indian Beach Dr	0.64mi	3/2.0	1,480 (-14%)	18mo	$675,000	$456	29

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 · 6.73% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.76×
• Total profit: $-8,760
• Equity at exit: $19,383

10-year hold

• IRR: 9.7%
• Equity multiple: 1.95×
• Total profit: $34,663
• Equity at exit: $11,240

Cash invested: $36,400 (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 77554

• Rents YoY: 6.7%
• Active inventory: 1239
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,060 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $60

Break-even live

Break-even rent $1,984

Max offer price $130,000

Occupancy floor 92%

Sensitivity live

Price	-10% $150	-5% $105	+0% $60	+5% $15	+10% $-30
Rent	-10% $-102	-5% $-21	+0% $60	+5% $142	+10% $223
Rate	-1.0pp $126	-0.5pp $93	base $60	+0.5pp $27	+1.0pp $-8

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 44 events

1. 2026-06-18
   days on market $130,000 Active 58 DOM
2. 2026-06-17
   days on market $130,000 Active 57 DOM
3. 2026-06-16
   days on market $130,000 Active 56 DOM
4. 2026-06-15
   days on market $130,000 Active 55 DOM
5. 2026-06-13
   days on market $130,000 Active 53 DOM
6. 2026-06-09
   days on market $130,000 Active 49 DOM
7. 2026-06-08
   days on market $130,000 Active 48 DOM
8. 2026-06-07
   days on market $130,000 Active 47 DOM
9. 2026-06-04
   days on market $130,000 Active 44 DOM
10. 2026-06-03
    days on market $130,000 Active 43 DOM
11. 2026-06-02
    days on market $130,000 Active 42 DOM
12. 2026-06-01
    days on market $130,000 Active 41 DOM
13. 2026-05-31
    days on market $130,000 Active 40 DOM
14. 2026-04-23
    price $130,000 359-char remark

    Show marketing remark (359 chars)

    3 BED | 2.5 BATH | 1,725 SQFT GALVESTON RETREAT This is a 1/8th interest in the residential property. Coastal residence located in the Karankawa community. 17732 Glei St features a 1,725 sqft floor plan with 3 bedrooms and 2.5 bathrooms. Situated on a cul-de-sac lot on Galveston's West End, the home features high-end finishes and professional management.

15. 2026-04-21
    listed $100,000 Active 359-char remark

    Show marketing remark (359 chars)

    3 BED | 2.5 BATH | 1,725 SQFT GALVESTON RETREAT This is a 1/8th interest in the residential property. Coastal residence located in the Karankawa community. 17732 Glei St features a 1,725 sqft floor plan with 3 bedrooms and 2.5 bathrooms. Situated on a cul-de-sac lot on Galveston's West End, the home features high-end finishes and professional management.

16. 2026-02-26
    historical
17. 2026-02-23
    soldstatus
18. 2025-08-25
    listed $695,000 Active
19. 2025-05-12
    historical
20. 2025-01-07
    listed $735,000 Active
21. 2024-08-31
    historical
22. 2024-04-29
    price $699,000
23. 2024-02-27
    listed $735,000 Active
24. 2019-12-16
    soldstatus Sold
25. 2019-12-16
    soldstatus
26. 2019-10-10
    historical
27. 2019-03-18
    listed $480,620 Active
28. 2014-09-15
    soldstatus
29. 2014-09-12
    soldstatus
30. 2014-08-13
    historical
31. 2014-06-27
    listed $379,000
32. 2014-06-27
    historical
33. 2014-03-09
    listed $415,000
34. 2012-04-09
    soldstatus
35. 2012-04-05
    soldstatus
36. 2012-03-21
    historical
37. 2012-02-29
    listed $369,000
38. 2011-08-16
    historical
39. 2011-05-27
    listed $415,000
40. 2010-02-15
    historical
41. 2009-11-24
    listed $435,000
42. 2009-06-15
    soldstatus
43. 2004-09-09
    soldstatus
44. 1993-08-17
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone VE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $24,725
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$8,678
• − Repairs & maintenance: −$1,978
• − Management: −$1,978
• − Depreciation: −$3,782
• Taxable loss: −$923
• Est. tax savings @ 24.0%: +$222
• After-tax cash flow: $945/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): 10,414
• Household income: $86,490
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 423.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 14% Two or more races 9% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 8% · Canada
• Languages at home: 85% English-only · Spanish 8% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -145.04%
• Current HPI: 241.704
• Rent YoY: ▲ 6.73%
• 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

-70.1% since first listed

31 events — show timeline

• 2026-04-23 Price Changed $130,000 HARMLS
• 2026-04-21 Listed $100,000 HARMLS
• 2026-02-26 Listing Removed — HARMLS
• 2026-02-23 Sold (Public Records) — Public Records
• 2025-08-25 Listed $695,000 HARMLS
• 2025-05-12 Listing Removed — HARMLS
• 2025-01-07 Listed $735,000 HARMLS
• 2024-08-31 Listing Removed — HARMLS
• 2024-04-29 Price Changed $699,000 HARMLS
• 2024-02-27 Listed $735,000 HARMLS
• 2019-12-16 Sold (Public Records) — Public Records
• 2019-12-16 Sold (MLS) — HARMLS
• 2019-10-10 Listing Removed — HARMLS
• 2019-03-18 Listed $480,620 HARMLS
• 2014-09-15 Sold (Public Records) — Public Records
• 2014-09-12 Sold (MLS) — HARMLS
• 2014-08-13 Listing Removed — HARMLS
• 2014-06-27 Listing Removed — HARMLS
• 2014-06-27 Listed $379,000 HARMLS
• 2014-03-09 Listed $415,000 HARMLS
• 2012-04-09 Sold (Public Records) — Public Records
• 2012-04-05 Sold (MLS) — HARMLS
• 2012-03-21 Listing Removed — HARMLS
• 2012-02-29 Listed $369,000 HARMLS
• 2011-08-16 Listing Removed — HARMLS
• 2011-05-27 Listed $415,000 HARMLS
• 2010-02-15 Listing Removed — HARMLS
• 2009-11-24 Listed $435,000 HARMLS
• 2009-06-15 Sold (Public Records) — Public Records
• 2004-09-09 Sold (Public Records) — Public Records
• 1993-08-17 Sold (Public Records) — Public Records

Property tax history

+2.0%/yr

Latest (2025): $10,718 · +4.3% YoY. Source: county tax records.