135 1st Street
About This Property
Breathtaking Galveston Bay views from this beautiful custom stucco home! Features include a grand hardwood winding staircase, soaring ceilings, recessed lighting, and two large covered balconies-perfect for entertaining or relaxing by the water. The Chef's kitchen offers a spacious island and open-concept design. The oversized garage accommodates a boat, RV, or multiple vehicles, while a private guest suite with separate entrance provides its own beach view-ideal for guests or short-term rentals.
Enjoy your private fishing pier, gated entry, and large backyard for gatherings. Unrestricted property-perfect for residential, Airbnb, or commercial waterfront use! Three attached lots (same Tax ID) can also FOR SALE and will be separated at closing. Conveniently located next to Mooner Beach & Fishing Pier, close to popular restaurants, entertainment, hospitals, and perfectly situated between Kemah and Galveston Beach.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 6, 2025 | Listed by Keller Williams Signature | $1,100,000 | |
| Listed by Keller Williams Signature | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017