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$2,750,000

For Sale - Active
19615 Shores Dr, Galveston, TX 77554
6 Beds
0 Baths
5,746 Square Feet
0.00 Acres Lot
Built in 2007
For Sale - Active
Units n/a
Checked: 8 hours ago
Updated: May 09, 2025 at 01:34AM

Investment Summary


Monthly Cash Flow
-$11,798
Cap Rate
0.5%
Cash-on-Cash Return
-22.4%
Debt Coverage Ratio
0.09
Internal Rate of Return (5 years)
-17.6%

Property Description


0.00 Acres Lot
Built in 2007
For Sale - Active
Units n/a

Majestic, oceanfront home unlike anything else on the Island. This custom-built Mediterranean villa boasts 6 bedrooms, including 3 primary bedrooms, all with their own private baths, 2 laundry rooms, 2 fireplaces and full service elevator for first 3 floors. Elegant foyer features 3-story wrought iron staircase and opens up to floor to ceiling ocean views from your great room that are truly breathtaking. Chefs kitchen features Wood-Mode cabinetry, stainless appliances, drawer microwave, warming drawer, granite counters, 2 dishwashers, ice maker and wine fridge. Third floor has a large game room with wet bar and a custom dry/wine bar with 2 dual zone wine fridges. Bonus room on 4th floor has wet bar, half bath and observation deck. Balcony views throughout. Home has been updated with a private boardwalk to the beach, whole-home Generac generator, and automatic hurricane-proof shutters, just to name a few. Home is being sold fully furnished. This is Coastal living at its finest!

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Location


Property Details


Parking

  • Description: Attached, Garage, Oversized
  • Details: Oversized, Attached
  • Garage Spaces: 3
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 6

Bathroom Information

  • # of Baths (Full): 6
  • # of Baths (Partial): 3
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 11
  • # of Stories: 3
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Foundation: Slab
  • Roof Material: Tile

HOA

  • Has HOA: Yes
  • Association: LPI Property Management
  • HOA Fee: $1,900/annually

Land Information

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

Lot Information

  • Parcel ID: 309400000012001
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Mediterranean
  • Year Built: 2007

Tax Information

  • Annual Tax: $64,656

Utilities

  • Water & Sewer: Public
  • Heating: Electric, Central
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Galveston

Listing Details


Listed by:
Amy Doubenmier
Corcoran Prestige Realty
(832) 250-0509

Source:
Houston Association of REALTORS
MLS#: 87028854
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
-$11,798
Cap Rate
0.5%
Cash-on-Cash Return
-22.4%
Debt Coverage Ratio
0.09
Internal Rate of Return (5 years)
-17.6%

Purchase Details

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Purchase price:
$2,750,000
Amount financed:
-$2,200,000
Down payment:
$550,000
Closing costs:
$82,500
Rehab costs:
$0
Initial cash invested:
$632,500
Square feet:
5,746
Cost per square foot:
$479
Monthly rent per square foot:
$1.71

Financing Details

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Loan amount:
$2,200,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$13,014
Property tax:
$5,388
Insurance:
$686
Private mortgage insurance (PMI):
$0
Monthly payment:
$19,088

Operating Income

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% Rent Monthly Yearly
Gross rent:
$9,800 $117,600
Vacancy loss: (6%)
6% -$588 -$7,056
Operating income:
$9,212 $110,544

Operating Expenses


% Rent Monthly Yearly
Property taxes: (55%)
55%-$5,388-$64,656
Insurance: (7%)
7%-$686-$8,232
Property management: (8%)
8%-$784-$9,408
Repairs & maintenance: (5%)
5%-$490-$5,880
Capital expenditures: (5%)
5%-$490-$5,880
HOA fees: (2%)
2%-$158-$1,896
Total operating expenses: (82%)
82%-$7,996-$95,952

Cash Flow


Monthly Yearly
Net operating income:
$1,216 $14,592
Mortgage payments:
-$13,014 -$156,168
Cash flow:
$11,798 $141,576