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$545,000

For Sale - Active
1228 Avenue K, Galveston, TX 77550
4 Beds
0 Baths
1,900 Square Feet
0.00 Acres Lot
Built in 1955
For Sale - Active
Units n/a
Checked: 11 hours ago
Updated: May 20, 2025 at 05:14PM

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$785
Cap Rate
4.0%
Cash-on-Cash Return
-7.5%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-3.3%

Property Description


0.00 Acres Lot
Built in 1955
For Sale - Active
Units n/a

Great Corner Lot hi raised +/- 1,900 sf home located in Galveston's highly coveted East End area. This 4 bedroom 3 bath home is just perfect to spend time in and around everything centrally located in Galveston. UTMB, The Strand, Historic Galveston Postoffice District where you can head to if you're looking for art, culture and fantastic restaurants. The interior of the home has tall ceilings, a modern and updated kitchen, slatted wood ceilings and walls. Tons of character throughout the house. The large primary en suite /dressing area bedroom upstairs is a great place to escape! Plenty of space to add a seating area or even your office! There is a bedroom on the 1st floor-great for guests overflow! The large garage allows you to drive in and close garage door with private entry directly into the house.

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Location


Property Details


Parking

  • Description: Attached, Garage
  • Details: Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

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

Interior Features

  • # of Rooms: 4
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Roof Material: Composition

Land Information

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

Lot Information

  • Parcel ID: 350501320014003
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 1955

Tax Information

  • Annual Tax: $0

Utilities

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

Location

  • County: Galveston

Listing Details


Listed by:
Marie Janke
Janke & Co Properties
(281) 686-2088

Source:
Houston Association of REALTORS
MLS#: 90690102
Houston Association of REALTORS

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$785
Cap Rate
4.0%
Cash-on-Cash Return
-7.5%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-3.3%

Purchase Details

Find an Agent

Purchase price:
$545,000
Amount financed:
-$436,000
Down payment:
$109,000
Closing costs:
$16,350
Rehab costs:
$0
Initial cash invested:
$125,350
Square feet:
1,900
Cost per square foot:
$287
Monthly rent per square foot:
$1.37

Financing Details

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Loan amount:
$436,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$2,579
Property tax:
$0
Insurance:
$182
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,761

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$2,600 $31,200
Vacancy loss: (6%)
6% -$156 -$1,872
Operating income:
$2,444 $29,328

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$182-$2,184
Property management: (8%)
8%-$208-$2,496
Repairs & maintenance: (5%)
5%-$130-$1,560
Capital expenditures: (5%)
5%-$130-$1,560
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$650-$7,800

Cash Flow


Monthly Yearly
Net operating income:
$1,794 $21,528
Mortgage payments:
-$2,579 -$30,948
Cash flow:
$785 $9,420