3601 Avenue R, Galveston, TX 77550

1800 Sq Ft 3 Bedroom + 1.5 Bath Home with Garage Apartment (1 Bed + 1 Bath)

SOLD

SOLD

Great Sub-2 Opportunity for A Furnished Turnkey Short Term Rental

3601 Avenue R, Galveston, TX 77550

Galveston County

  • Main Home: 3 Bed / 1.5 Bath

  • Garage Apartment: 1 Bed / 1 Bath

  • 1800 Sq Ft

  • Turnkey property, no rehab required

  • Mostly furnished

  • Built 1923

  • Currently used as a Family Vacation Residence

  • Property ID/APN: 7681-0000-0001-001

  • GPS Coordinates: 29.284532, -94.803175

    CAD Information:

  • County Appraised Value: $529,010

  • CAD Link

  • HOA : No

  • Reference File Number: CMTX06123

    Purchase Terms:

  • Purchase Price: $516,000 

  • Entry Cost: $28,150 + Closing Cost Entry Cost Includes: $7500 Cash to Seller, $20,000 Wholesale Fee (OBO), $650 TC Fee (Less than 7% Entry)

  • Mortgage Balance $456,799.81

  • Seller's Equity Paid Out as follows: 

    Cash Due to Seller at Close $7500

    Cash Due to Seller in 10 years as Balloon payment $51,700.19 (Second Lien)

    ❌NO MONTHLY PAYMENTS DUE TO SELLER FOR 10 YEARS

  • Subject to Existing Mortgage Terms:

    Existing Conventional 30-year Loan 

    Interest Rate 3.25%

    Monthly PITI $3901.78

  • 10 Year Balloon 

    (All notes due in 10 years. Buyer must refi, sell, or bring cash to satisfy all notes in 10 years)

Purchase Price: $516,000

Down Payment: $28,150

(refer purchase terms)

(Estimated Market Value: $560,000)


Contact us today for more information & to schedule a visit

Ken Brown

(281) 519-3330

Disclaimer

Please note that the information provided is based on current knowledge and could be subject to change. It is the responsibility of the buyer to verify all details and perform their due diligence before purchasing the property.