Short term rental market in Jamaica Beach/Galveston TX

[Ashlee Hutson]

Hi everyone!

I have an opportunity to purchase a lot in Jamaica Beach at (what I think) is a discounted price from a family member. I would love to build a small beach house (1000-1200sq ft) on the lot and rent it out as a short term rental. I have only done preliminary research at this point but from what I can tell the cost to build is roughly $200-$250 a sq ft and insurance will run me about $3800 a year. I would love to get some local investors/realtors thoughts on the short term market down there and if anyone had any further advice. I live roughly an hour from the lot in question.