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$775,000

For Sale - Active
1125 Alex Dr, Gilchrist, TX 77617
5 Beds
0 Baths
2,043 Square Feet
0.00 Acres Lot
Built in 2019
For Sale - Active
Units n/a
Checked: 22 hours ago
Updated: May 09, 2025 at 03:31AM

Investment Summary


Monthly Cash Flow
-$2,091
Cap Rate
2.4%
Cash-on-Cash Return
-14.1%
Debt Coverage Ratio
0.43
Internal Rate of Return (5 years)
-9.6%

Property Description


0.00 Acres Lot
Built in 2019
For Sale - Active
Units n/a

This property is vacation ready with gorgeous Gulf views and fun neighborhood atmosphere. Located just steps from the beach, the Breakers neighborhood also offers drive-on beach access for your golf cart or vehicle. When you pull into the extra-wide driveway that will accommodate an RV, you're welcomed by a tiki bar, dog- and kid-friendly fenced yard with playground, and lots of outdoor seating to entertain a crowd. Upstairs, the large deck has multiple Gulf views with plenty of seats from which to enjoy the sights and sound of the beach. Inside, the soaring ceiling of the great room - kitchen, dining, and living - feel open, airy and filled with natural light from the many windows. Comfortably sleeping 18 people, there are 4 bedrooms and 2 bathrooms downstairs and a 27 X 21 bunkroom/hangout space and bathroom upstairs. Grossed $94k in 2024 and $72k in 2024 as a short-term rental. Schedule a showing today!

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Location


Property Details


Parking

  • Details: Private, Driveway
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 2

Exterior Features

  • Roof Material: Composition

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 193900000010000
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 2019

Tax Information

  • Annual Tax: $13,373

Utilities

  • Water & Sewer: Public
  • Heating: Electric, Central
  • Cooling: Central Air

Location

  • County: Galveston

Listing Details


Listed by:
Kelsey Ardoin
eXp Realty LLC
(713) 501-6060

Source:
Houston Association of REALTORS
MLS#: 19592635
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
-$2,091
Cap Rate
2.4%
Cash-on-Cash Return
-14.1%
Debt Coverage Ratio
0.43
Internal Rate of Return (5 years)
-9.6%

Purchase Details

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Purchase price:
$775,000
Amount financed:
-$620,000
Down payment:
$155,000
Closing costs:
$23,250
Rehab costs:
$0
Initial cash invested:
$178,250
Square feet:
2,043
Cost per square foot:
$379
Monthly rent per square foot:
$1.91

Financing Details

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Loan amount:
$620,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,668
Property tax:
$1,114
Insurance:
$273
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,055

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,900 $46,800
Vacancy loss: (6%)
6% -$234 -$2,808
Operating income:
$3,666 $43,992

Operating Expenses


% Rent Monthly Yearly
Property taxes: (29%)
29%-$1,114-$13,373
Insurance: (7%)
7%-$273-$3,276
Property management: (8%)
8%-$312-$3,744
Repairs & maintenance: (5%)
5%-$195-$2,340
Capital expenditures: (5%)
5%-$195-$2,340
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (54%)
54%-$2,089-$25,073

Cash Flow


Monthly Yearly
Net operating income:
$1,577 $18,924
Mortgage payments:
-$3,668 -$44,016
Cash flow:
$2,091 $25,092