1307 34th St · Galveston, TX 77550

$130,000

6 bd · 2.0 ba · 960 sqft · MultiFamily · 111 Days on market

Built 1960 Poor condition 2,586 sqft lot $135/sqft · 11% below area Est $147k · 11% under ↓ 46% since listing

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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
• ARV discount +12.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.2/5.0
• Condition / age +1.0/5.0
• 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

This is a great chance at owning 2 properties, both duplexes with great potential. Set in the heart of Galveston. Larger units have 3bd/1bth, and smaller duplex 1bd/1bth. A complete renovation is needed but at this price and area the opportunity's are endless with this property.

Key facts

• 2,586 sq ft lot
• Built 1960
• Listed 111 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $130k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $750 ($9k/yr) — positive. Per door: $375/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.2% 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; 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).
• At $2,627/mo this rent would consume 70% 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 $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 + 0.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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 $118,300 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 2.02% ✓
• Cap rate: 17.16%
• Cash-on-cash: 38.80%
• DSCR: 2.73
• GRM: 4.1

CMA / ARV

• ARV (median comp): $146,539
• List price: $130,000
• Delta: -11.29%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.53×
• Total profit: $19,330
• Equity at exit: $19,383

10-year hold

• IRR: 19.7%
• Equity multiple: 2.37×
• Total profit: $49,846
• 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 77550

• Home prices YoY: -32.9%
• Rents YoY: -1.1%
• Active inventory: 622
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,627 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $750

Break-even live

Break-even rent $1,677

Max offer price $130,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,628
Total (2 units)			$2,627

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 23 events

1. 2026-06-18
   days on market $130,000 Active 111 DOM
2. 2026-06-17
   days on market $130,000 Active 110 DOM
3. 2026-06-16
   days on market $130,000 Active 109 DOM
4. 2026-06-15
   days on market $130,000 Active 108 DOM
5. 2026-06-13
   days on market $130,000 Active 106 DOM
6. 2026-06-09
   days on market $130,000 Active 102 DOM
7. 2026-06-08
   days on market $130,000 Active 101 DOM
8. 2026-06-07
   days on market $130,000 Active 100 DOM
9. 2026-06-04
   days on market $130,000 Active 97 DOM
10. 2026-06-03
    days on market $130,000 Active 96 DOM
11. 2026-06-02
    days on market $130,000 Active 95 DOM
12. 2026-06-01
    days on market $130,000 Active 94 DOM
13. 2026-05-31
    days on market $130,000 Active 93 DOM
14. 2026-05-11
    price $130,000 280-char remark

    Show marketing remark (280 chars)

    This is a great chance at owning 2 properties, both duplexes with great potential. Set in the heart of Galveston. Larger units have 3bd/1bth, and smaller duplex 1bd/1bth. A complete renovation is needed but at this price and area the opportunity's are endless with this property.

15. 2026-03-28
    price $140,000 280-char remark

    Show marketing remark (280 chars)

    This is a great chance at owning 2 properties, both duplexes with great potential. Set in the heart of Galveston. Larger units have 3bd/1bth, and smaller duplex 1bd/1bth. A complete renovation is needed but at this price and area the opportunity's are endless with this property.

16. 2026-02-27
    listed $150,000 Active 280-char remark

    Show marketing remark (280 chars)

    This is a great chance at owning 2 properties, both duplexes with great potential. Set in the heart of Galveston. Larger units have 3bd/1bth, and smaller duplex 1bd/1bth. A complete renovation is needed but at this price and area the opportunity's are endless with this property.

17. 2025-06-24
    status Pending
18. 2023-03-11
    status Pending
19. 2023-03-04
    status Option Pending
20. 2023-02-28
    historical
21. 2023-02-24
    price $190,000
22. 2023-02-03
    price $210,000
23. 2023-01-14
    listed $240,000 Active

ⓘ 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 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: $31,524
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$5,768
• − Repairs & maintenance: −$2,522
• − Management: −$2,522
• − Depreciation: −$3,782
• Taxable income: $7,698
• Est. tax owed @ 24.0%: −$1,847
• After-tax cash flow: $7,157/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.

Condition & rehab AI · 8 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation to bring it up to modern standards, significantly increasing its resale and rental value.

Repairs flagged

• Major kitchen cabinets — Severely worn and outdated
• Major bathroom fixtures — Severely outdated and worn
• Major roof — Signs of wear and tear
• Major exterior siding — Weathered and possibly damaged
• Major flooring — Worn and damaged
• Major interior walls — Worn paint and visible damage
• Major windows — Old and possibly non-functioning
• Major HVAC/mechanicals — Old and possibly non-functional
• Major landscaping — Overgrown and cluttered

Value-add opportunities

• Both Complete kitchen renovation — Modern kitchen with updated appliances and cabinets
• Both Bathroom renovation — Modern bathrooms with updated fixtures
• Both Roof replacement — Improved curb appeal and safety
• Both Exterior siding replacement — Improved curb appeal and safety
• Both Flooring replacement — Improved comfort and safety
• Both Interior wall and paint repair — Improved appearance and safety
• Both Window replacement — Improved safety and energy efficiency
• Both HVAC/mechanical replacement — Improved comfort and energy efficiency
• Both Landscaping and curb appeal — Improved curb appeal and safety

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Severely worn and outdated	Major	$15,000–50,000
bathroom fixtures · Severely outdated and worn	Major	$15,000–50,000
roof · Signs of wear and tear	Major	$15,000–50,000
exterior siding · Weathered and possibly damaged	Major	$15,000–50,000
flooring · Worn and damaged	Major	$15,000–50,000
interior walls · Worn paint and visible damage	Major	$15,000–50,000
windows · Old and possibly non-functioning	Major	$15,000–50,000
HVAC/mechanicals · Old and possibly non-functional	Major	$15,000–50,000
landscaping · Overgrown and cluttered	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Both Complete kitchen renovation — Modern kitchen with updated appliances and cabinets ↑
• Both Bathroom renovation — Modern bathrooms with updated fixtures ↑
• Both Roof replacement — Improved curb appeal and safety ↑
• Both Exterior siding replacement — Improved curb appeal and safety ↑
• Both Flooring replacement — Improved comfort and safety ↑
• Both Interior wall and paint repair — Improved appearance and safety ↑
• Both Window replacement — Improved safety and energy efficiency ↑
• Both HVAC/mechanical replacement — Improved comfort and energy efficiency ↑
• Both Landscaping and curb appeal — Improved curb appeal and safety ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-45.8% since first listed

10 events — show timeline

• 2026-05-11 Price Changed $130,000 HARMLS
• 2026-03-28 Price Changed $140,000 HARMLS
• 2026-02-27 Listed $150,000 HARMLS
• 2025-06-24 Pending — HARMLS
• 2023-03-11 Pending — HARMLS
• 2023-03-04 Pending — HARMLS
• 2023-02-28 Listing Removed — HARMLS
• 2023-02-24 Price Changed $190,000 HARMLS
• 2023-02-03 Price Changed $210,000 HARMLS
• 2023-01-14 Listed $240,000 HARMLS