B+

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Owner Contacts

$185,320

5124 Avenue O 1/2, Galveston, TX, 77551

$209,877 ARV

Off Market

3 Beds

1 Bath

1,373 Sq Ft

Single Family Residence

$214.86 / sqft

Built in 1965

Property Lead Type:

Absentee Owner

Highlights

Interior

Bedrooms 3

Bathrooms Full 1

Heating Central

Cooling

AppliancesGas Oven, Gas Cooktop

FlooringTile, Wood

Exterior

Exterior FeaturesBalcony

Lot Size4,095 sqft

Building Information

Year Built1965

Stories1

Roof Type105

Garage Spaces2

Land Information

APN2965-9100-0001-000

Lot Number1

SubdivisionIbey Was Here (2024) Abst 628

Land UseDuplexes

Legal DescriptionLOT 1 IBEY WAS HERE (2024) ABST 628

Census Tract725400

Assessed Land Value$69,860

Assessed Improvement Value$115,460

Assessment Year2025

About this property

Midtown Galveston's Hidden Gem! This 1965 Craftsman bungalow (2 LOTS!) offers 3 oversized bedrooms & 2 incredible bathrooms on 6,000 sqft Lot with Alley Access. The backyard features an oversized garage apartment with 1 bedroom, 1 bathroom, full-size living room, & dining area - a perfect income-producing property for tenants or house hacking. Located near Pleasure Pier, Moody Gardens, and Multiple Popular Beaches, this home is a dream for tourists and locals alike. Enjoy vibrant eateries, historical charm of The Historic Strand, and endless fun at Water Parks, Fishing & Cruise Tours. Investors, seize this opportunity! The garage apartment promises excellent income potential. Don't miss this rare find, a Craftsman bungalow with coastal wonders and investment possibilities. Don't miss this rare opportunity to own a Craftsman bungalow in sought-after location, surrounded by coastal wonders and endless entertainment. Craftsman Bungalow, Galveston, Garage Apt Income-Producing Attractions

Investor Tools

$185,320

Estimated Property Value

$342,678Estimated Mortgage Balance

$0Estimated Equity

-85% equity

Estimated Cap Rate

View Rate

Estimated ARV (After-Repair Value)

$209,876

Rent-to-Value Ratio: 0.72%

Rent Estimate

$1,770 /month

Positive

Cash Flow Estimate:

$590 /month

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Financing Details

Estimated Taxes & Insurance

HOA Fees

Interest Rate Assumption

$338/month

No HOA

5.947%

Tax Information

Annual Taxes

Assessed Value

Assessment Year

Assessed Land

Assessed Improvement

Market Value

Tax Delinquent

$3,132

$185,320

2025

$69,860

$115,460

$185,320

Tax History

Year

Tax Paid

Assessed Value

2024

$3,132

$185,320

Mortgage Details

Lender

Loan Type

Loan Amount

Assumable

Position

Origination Date

Maturity Date

Network Funding Lp

Fha

$342,678

Yes

First

Apr 9, 2025

May 2055

Equity Summary

Est. Mortgage Balance

Est. Equity

Equity %

LTV

Est. Monthly Payment

$336,130

N/A

181%

$2,055/mo

Learn About the Market: Opportunity in Texas

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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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