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$383,000

328 1st St, Galveston, TX, 77550

Off MarketInfo
CommercialInfo
Beds2 Beds
Baths1 Bath
Baths1,788 Sq Ft
Multi FamilyMulti Family
price_per_sqft$178.97 / sqft
Year BuiltBuilt in 1974

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 2Bathrooms Full 2
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesRange, Refrigerator
FlooringConcrete, Tile, Vinyl

Exterior

Lot Size5,881 sqft

Building Information

Year Built1974
Stories1
Roof Type105
Garage Spaces3

Land Information

APN6260-0004-0022-000
Lot Number22
SubdivisionSan Marino
Land UseResidential
Legal DescriptionABST 628 PAGE 141 LOT 22 BLK 4 SAN MARINO SUB
Census Tract724200
Assessed Land Value$58,450
Assessed Improvement Value$258,940
Assessment Year2025

About this property

Single story duplex in fabulous location 1 block to Seawall and less than half mile from UTMB. Each unit is a 2 bedroom, 1 bathroom with large kitchen, eating, living area. Each side has its own garage and driveway. Unit B (right side) has been updated in the past few years with new HVAC, interior paint, luxury vinyl plank flooring, and granite counters in the kitchen. Bathroom features new tub, surround, and vanity. Unit A (left side) has not been updated and had been used for storage. Unit B has a tenant in place through end of May 2025. Perfect value-add opportunity for an investor to receive rental income from day 1 while fixing up Unit A. New roof completed in July 2022 - see attachments for WPI8 windstorm certification. Located in preferred Flood Zone X. Occupied unit may be viewed Monday, 5/13/24 5 pm - 7 pm.

Investor Tools

Property Icon
$383,000
Estimated Property Value
$261,600Estimated Mortgage Balance
$127,981Estimated Equity
32% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,298 /month
Positive
Cash Flow Estimate:
$766 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$638/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$5,744
$317,390
2025
$58,450
$258,940
$317,390
No

Tax History

Year
Tax Paid
Assessed Value
2024
$5,744
$317,390

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Primelending
Conventional
$261,600
No
First
Dec 16, 2024
Jan 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$255,019
$116,981
31%
67%
$1,569/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.

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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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328 1st St | Property Details | No Agent List