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$239,000

For Sale - Active
219 Lakeside Dr, Kemah, TX 77565
3 Beds
0 Baths
1,441 Square Feet
0.00 Acres Lot
Built in 1968
For Sale - Active
Units n/a
Checked: 10 hours ago
Updated: Jul 10, 2025 at 03:05AM

Investment Summary


Monthly Cash Flow
$449
Cap Rate
7.9%
Cash-on-Cash Return
9.8%
Debt Coverage Ratio
1.40
Internal Rate of Return (5 years)
13.5%

Property Description


0.00 Acres Lot
Built in 1968
For Sale - Active
Units n/a

Please pardon the final stages of the road construction, it is almost finished! Check out this Cute Bungalow nestled in the golf cart community of Lakeside! This lovely home cam be sold furnished if buyer chooses and is move in ready! The home features 3 bedrooms, a spacious family room with floor to ceiling stone fireplace, kitchen with plenty of cabinet space and large center island. The back yard has new fencing and boasts a fabulous covered patio that is perfect for entertaining! This home is just a short walk to the neighborhood Boat Launch and only a few minutes' drive to the Kemah Boardwalk!

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Location


Property Details


Parking

  • Description: None
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 1
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 3
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Composition/Composite
  • Foundation: Slab
  • Roof Material: Composition

Land Information

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

Lot Information

  • Parcel ID: 451000070005000
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch, Traditional
  • Year Built: 1968

Tax Information

  • Annual Tax: $5,048

Utilities

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

Location

  • County: Galveston

Listing Details


Listed by:
Carla Wade
RE/MAX Space Center
(281) 685-5385

Source:
Houston Association of REALTORS
MLS#: 71744711
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
$449
Cap Rate
7.9%
Cash-on-Cash Return
9.8%
Debt Coverage Ratio
1.40
Internal Rate of Return (5 years)
13.5%

Purchase Details

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Purchase price:
$239,000
Amount financed:
-$191,200
Down payment:
$47,800
Closing costs:
$7,170
Rehab costs:
$0
Initial cash invested:
$54,970
Square feet:
1,441
Cost per square foot:
$166
Monthly rent per square foot:
$2.01

Financing Details

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Loan amount:
$191,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,131
Property tax:
$421
Insurance:
$203
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,755

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,900 $34,800
Vacancy loss: (6%)
6% -$174 -$2,088
Operating income:
$2,726 $32,712

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$421-$5,048
Insurance: (7%)
7%-$203-$2,436
Property management: (8%)
8%-$232-$2,784
Repairs & maintenance: (5%)
5%-$145-$1,740
Capital expenditures: (5%)
5%-$145-$1,740
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (40%)
40%-$1,146-$13,748

Cash Flow


Monthly Yearly
Net operating income:
$1,580 $18,960
Mortgage payments:
-$1,131 -$13,572
Cash flow:
$449 $5,388