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$1,175,000

1502 39th Street, Galveston, TX, 77550

On MarketInfo
CommercialInfo
Baths13,000 Sq Ft
Multi FamilyMulti Family
price_per_sqft$90.38 / sqft
Year BuiltBuilt in 1924

Highlights

Interior

Bathrooms Full 2Bathrooms Full 2
Heating Floor/WallHeating Floor/Wall
CoolingCooling
AppliancesRange, Dishwasher, Refrigerator
FlooringWood, Hardwood

Exterior

Lot Size7,741 sqft

Building Information

Year Built1961
Stories2
Roof Type172

Land Information

APN3510-0035-0001-000
Lot Number1
SubdivisionGalveston Outlots
Land UseCommercial
Legal DescriptionABST 628 M B MENARD SUR LOT 1 & W 1/2 OF LOT 2 NW BLK 35 GALVESTON OUTLOTS
Census Tract725100
Assessed Land Value$137,620
Assessed Improvement Value$723,380
Assessment Year2025

About this property

Large two story prominent corner historic brick building, circa 1924, with 9 first floor rental areas: 7 facing 39th Street and two facing Avenue N. The upstairs has two large condo-type areas with one having 7 bedrooms surrounding two common areas, a kitchen and 1 1/2 baths and the other having 4 bedrooms and a kitchen and bath. A large private roof patio area, with covered bar area, separates the two upstairs living areas. Hot tub area, with patio and private staircase downstairs. The property is among the many up and coming 39th Street establishments.

Investor Tools

$574,510Estimated Mortgage Balance
$286,490Estimated Equity
33% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$7,050 /month
Positive
Cash Flow Estimate:
$2,350 /month

Interested in this property?

David Bowers

Better Homes and Gardens Real Estate Gary Greene - Galveston

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,457/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$13,181
$861,000
2025
$137,620
$723,380
$861,000
No

Tax History

Year
Tax Paid
Assessed Value
2024
$13,181
$861,000

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Hometown Bank Na
Purchase Money Mortgage
$618,750
No
First
Aug 8, 2022
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$574,510
$286,490
33%
67%
$3,710/mo

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Galveston

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