5 Beds 3 baths in Crystal Beach TX

  • $74,360
  • $5,735$689,000
2290 East Lobster Street, Crystal Beach, TX, USA
For Sale Hot Offer
5 Beds 3 baths in Crystal Beach TX
2290 East Lobster Street, Crystal Beach, TX, USA
  • $74,360
  • $5,735$689,000

Description

🔥 🦞 Subto TX – Cashflowing Airbnb Beach-House Near Galveston for Only ~$69k! 🔥 🦞

Seize this exceptional Subto opportunity with a cash-flowing Airbnb beach-house near Galveston, TX. This fully furnished property, located in the STR-friendly Sandpiper neighborhood, is a prime investment for those looking to capitalize on the lucrative short-term rental market.

Property Details:

  • Bedrooms: 5
  • Bathrooms: 3
  • Living Space: 1,700 sq ft
  • Lot Size: 7,357 sq ft
  • Year Built: 2022
  • No HOA

Terms:

  • Total Purchase Price (including assignment): $701,438.36
  • Entry Fee: $74,360 + Closing Costs + Transaction Coordinator
  • Mortgage Balance: $632,078.36
  • Interest Rate: 6.875%
  • PITI: $5,735.68 (to be reduced by $300 in 3 years after escrow shortage is paid)
    • Principal: $606.06
    • Interest: $3,621.28
    • Escrow: $1,508.34 (including Mortgage Insurance: $182.33)
  • Balloon Payment: 10 years

Recommended Exits:

  • Short-Term Rental (STR): $7,500+ per month (Currently generating $92,000 annually, with $45,000 in 2024 revenue so far)
  • Long-Term Rental (LTR): $4,500 per month (Zillow Rent Estimate)
  • Homestead/Vacation Home
  • Lease Option

Additional Notes:

  • Operating Status: Currently a cash-flowing Airbnb, generating significant revenue.
  • Location: Located in the Sandpiper neighborhood, just 18 miles (about 1 hour) from Galveston.
  • Amenities: Fully furnished (excluding Dyson vacuum), accommodates up to 17 people, features a palapa-style tiki bar on the ground floor, deck, and game room upstairs.
  • Escrow Shortage: Approximately $9,000, with monthly payment reduction of about $300 after 3 years.

This property is perfectly positioned for investors looking to maximize their returns through short-term rentals, long-term rentals, or as a personal vacation home. With its prime location near Galveston and current operation as a successful Airbnb, this beach-house offers both immediate cash flow and long-term appreciation potential. Secure this investment with a $69,360 entry fee plus closing costs and transaction coordinator fees, and enjoy the benefits of a high-performing rental property in a sought-after community.

Details

Property ID
SPSP-18430
Bedrooms
5
Bathrooms
3
Property Size
1700
Entry Cost ($)
74360
APR (%)
6.875
PITI ($)
5735
Balance ($)
632738
Updated on July 6, 2024 at 7:07 pm

Address

  • Address 2290 E Lobster St
  • State/Province Texas
  • Zip/Postal Code 77650

Contact Information

atm1t
  • atm1t

Inquire About This Property

Similar Listings

Compare listings

Compare
atm1t
  • atm1t