Pricing Strategy
Significant gap between CAD appraisal and target price reflects condition, location challenges, and renovation burden on buyer. Comparable properties in the area have been on market 3+ years.
Site Photo
Property Overview
| Address | 1518 Highway 87, Gilchrist, TX 77617 |
| County | Galveston County |
| Area | Bolivar Peninsula |
| Owner (GCAD) | Livingston Revocable Living Trust |
| Executor | Cooper Lane |
| Type | Estate Sale |
| Layout | 1-story: Living Room, Kitchen, 3 Bedrooms, Bathrooms, Garage, Pool, Backyard |
| Approx. Sq Ft | ~2,000 |
| Lot | 0.83 acres (~36,217 sq ft) |
| Listing Agent | Joseph Diosana — The Property Joes Group |
| Walkthrough Date | May 31, 2026 (52 minutes) |
County Appraisal Data (GCAD)
| Parcel ID | 604425 |
| Geo ID | 0064-0056-0001-000 |
| Owner | LIVINGSTON REVOCABLE LIVING TRUST |
| Mailing Address | 3058 Locke Lane, Houston, TX 77019-6202 |
| Legal Description | ABST 64 E FRANKS SUR TR 56-1 ACRES 0.833 |
| Land Value | $390,000 |
| Improvement Value | $709,270 |
| Total Appraised Value | $1,099,270 |
| Acreage | 0.833 |
| Land Use | BF, PU |
| Entities | CAD, F02, GGA, RFL, S13 |
| Neighborhood | 2955.1 |
| Map Page | 135-A |
Source: GCAD parcel_data.dbf (updated 2026-04-14). Information for research purposes. Verify with Galveston CAD for legal use.
Walkthrough Findings
From May 31, 2026 walkthrough (52 min) with Joseph Diosana and executor
Kitchen Recently Redone
Kitchen was recently remodeled and looks pretty nice. Quality of remodel unclear — previous owner had history of firing contractors mid-job.
Bathrooms Needs Work
Bathrooms don't look very nice. Primary bathroom needs spa-level update. Normal bathrooms $5-10K each, primary should be higher-end. Combined kitchen + bathroom reno: $60-70K estimate.
Bedrooms 3 Bedrooms
Three bedrooms, single-story layout. Walk-in living room and kitchen flow into bedroom wing.
Living Room Open Layout
One-story walk-in living room as main entry. Connected to kitchen and bedroom wing.
Garage Cluttered
Garage is filled with random items. Needs full cleanout before showing.
Pool Unknown Condition
Pool present on property. Condition unknown — needs inspection. Could be a selling point or a liability depending on state.
Backyard Large Lot
Almost an acre lot. Backyard condition to be assessed during next walkthrough with keys.
General Condition Needs Renovation
Incomplete contractor work (previous owner fired contractors mid-job). Flooring, finishes, fixtures all need attention. Buyer must be willing to take on 3-6 month remodel.
Renovation Estimate Breakdown
| Category | Est. Cost | Notes |
|---|---|---|
| Kitchen + Bathrooms | $60,000 - $70,000 | Primary bath needs spa-level finish |
| Flooring, Finishes, Fixtures | $30,000 - $40,000 | Throughout the home |
| Cleanout (Garage, General) | $5,000 - $10,000 | Professional crew needed |
| Pool Repair/Cleanup | $10,000 - $20,000 | Pending inspection |
| Landscaping | $5,000 - $10,000 | "Pretty and then good landscaping" |
| Total Estimate | ~$134,000 | As discussed in walkthrough |
Key Challenges
- Estate Sale: Property held in Livingston Revocable Living Trust. Executor (Cooper Lane) managing on behalf of estate. Legal complexity with trust dissolution.
- Remote Location: Bolivar Peninsula / Gilchrist is isolated. "Middle of nowhere" per walkthrough. Not as desirable as Galveston Island. Limited buyer pool.
- Extended Market Time: Comparable properties have been on market 3+ years. Expect long timeline (6 months to 3 years).
- Renovation Burden: Buyer must accept 3-6 month remodel after purchase. Most buyers want move-in ready. Must incentivize heavily on price.
- Access: Keys held by aunt/uncle in Heights area. Need to coordinate key handoff for showings and walkthroughs.
- Family Dynamics: Complex family relationships. Aunt's sister (not on good terms) married to uncle's brother. Requires diplomatic navigation.
Market Context
Area: Bolivar Peninsula, unincorporated Galveston County. Accessed via ferry from Galveston Island or via TX-87 from High Island.
Market Reality: Limited demand for this location. Comparable homes sitting on market 3+ years. The $1.1M GCAD appraisal vs. $224K target price reflects the significant gap between assessed value and realistic market price given condition and location.
Strategy: List immediately (like the Cosmos property). Time is the enemy — burn time early. Price aggressively to attract investors or renovation-minded buyers. Two pricing tracks will be needed: as-is price and post-renovation potential value.
Action Items
- Obtain property keys from aunt/uncle in Heights area
- Coordinate solo walkthrough to verify all details and assess pool/backyard condition
- Pull comps for Bolivar Peninsula area
- List property as soon as keys and access are secured
- Get signs up and listing live early
- Prepare dual pricing strategy (as-is vs. renovation potential)
- Send legal documents and contracts via Jointly platform
- Estate attorney consultation (David) for trust-related matters
Estate Connection
This property is part of the Livingston Estate, managed by executor Cooper Lane. Other properties in the estate include:
| Property | Area | County | Appraised Value |
|---|---|---|---|
| 3058 Locke Ln | Avalon Place / River Oaks | Harris (HCAD) | $2,004,743 |
| 1518 Hwy 87 (this property) | Bolivar Peninsula / Gilchrist | Galveston (GCAD) | $1,099,270 |
| 5574 Aspen St | Heights / Richmond Plaza | Harris (HCAD) | $461,895 |
| 5523 Aspen St | Heights / Richmond Plaza | Harris (HCAD) | $319,000 |
| 5125 Mimosa Dr | Heights | Harris (HCAD) | $450,057 |
| Total Estate Portfolio | $4,334,965 | ||
GCAD mailing address for 1518 Hwy 87 matches 3058 Locke Ln, confirming same estate.