Galveston Distressed Builder Sale – $470k

3819 El Lago St, Galveston

ROI

10.55% IRR

Strategy

Short Term Rental

Short term construction financing balloons in January. Builder must sell. Market value $570k, accepting $470k for immediate 15% walk-in equity. New construction 4 bed 4 bath 1800+ sqft home with Lake Como views in Pirates Beach. 10 minute walk to the beach, bars, and restaurants. Long term furnished lease on this street went for $4,600. Non-furnished long term leases going for $3,000. STR comps suggest $65k - $75k annual gross income. No HOA. This deal is a "wholetail" or STR Flip project. Chat with Vic about it. Requires a more aggressive investor. Insurance estimated $7,500. Taxes estimated $9,600.

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Galveston Distressed Builder Sale – $470k

Listed 10/14/2025

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3819 El Lago St, Galveston

Purchase Price:$470,000

Cash Outlay:$126,900

Cashflow:$26/mo

Cap Rate:5.33%

IRR:10.55%

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