Is 6102 Seawall Blvd #241 in Galveston, TX a good investment?

CashFlowRE grades it D- with a 1.5% cap rate and $-876/mo modeled cash flow at a $111,900 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 6102 Seawall Blvd #241?

The modeled cap rate is 1.5% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,011/month, from CashFlowRE's rent model.

D- Composite 37.03

Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

ARV discount +15.0/15.0
Schools +5.6/10.0
1% rule +4.0/10.0
Livability +3.8/5.0
Condition / age +3.8/5.0
Rent growth +3.6/5.0
Cash flow +1.3/30.0
DSCR +0.0/10.0
Appreciation +0.0/10.0

$111,900

6102 Seawall Blvd #241 · Galveston, TX 77551

1 bd · 1.0 ba · 462 sqft · Condo · 97 Days on market

Built 1985 Good condition Garage $242/sqft · 38% below area Est $179k · 38% under $475/mo HOA · 47% of rent ↓ 37% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

If you're seeking a weekend getaway, a permanent seaside resident or investment property you've come to the right place. The highly desirable Casa del Mar consistently named #1 vacation rental on the island. Whether your interested in historical architecture, fresh Gulf seafood or exploring the island, everything is easily accessible. You'll enjoy events on the island like Mardi Gras, Dickens on The Strand and Lone Star Rally just to name a few. This condo is the perfect choice for families. This cozy condo is well-equipped, it's your home away from home.

Key facts

24/7 security
Fully furnished
On-site laundry

What this means for you Summary

Snapshot

This is a 1-bed/1.0-bath condo listed at $112k. Condition is rated good.

Deal economics

At list price, monthly cash flow is $-876 ($-11k/yr) — negative.
Rent doesn't cover operating costs at any purchase price — skip.
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (9.7% below list).
Recommended offer: $101k (9.7% below list) — sets the bar for 1% rule.
Cap rate 1.5% vs local median 0.2% in Galveston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

Location reads 76/100 on livability (#108 in TX, #3,559 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D+, employment D, crime F.
Galveston ISD (town): math 33% / reading 39% proficiency, ranked #514 of 826 in TX (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
Zoned schools: Oppe El (math 67% / reading 60%, grade B, #291 of 4,322 statewide, top 7%, 610 students, 63% FRL); Central Middle (math 18% / reading 21%, grade F, #1,445 of 1,662 statewide, top 88%, 879 students, 80% FRL); Ball H S (math 17% / reading 44%, grade F, #1,085 of 1,632 statewide, top 67%, 1,934 students, 73% FRL) — zoned schools at 72% FRL track the district average.
Market conditions: Rents rising fast (+4.3%/yr); 446 active listings in the ZIP; 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).

Forward outlook

Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
Galveston County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

It's been on market 97 days — a 9% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

Watch-outs: flood insurance adds $427/mo; HOA is 47% of rent.
Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,084 (9.7% below list)

Questions for the listing agent

What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
It's been on market 97 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

1% rule: 0.90% ✗
Cap rate: 1.47%
Cash-on-cash: -17.23%
DSCR: 0.23
GRM: 9.2

CMA / ARV

ARV (median comp): $179,352
List price: $111,900
Delta: -37.61%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6102 Seawall Blvd #262	0.00mi	1/1.0	462 (0%)	0mo	$125,000	$271	100
6102 Seawall Blvd #208	0.00mi	1/1.0	462 (0%)	0mo	$149,900	$324	100
6102 Seawall Blvd #187	0.00mi	1/1.0	462 (0%)	2mo	$106,000	$229	99
6102 Seawall Blvd #133	0.00mi	1/1.0	462 (0%)	4mo	$105,000	$227	96
6102 Seawall Blvd #393	0.00mi	1/1.0	462 (0%)	5mo	$93,500	$202	96
6102 Seawall Blvd #105	0.00mi	1/1.0	490 (+6%)	4mo	$179,999	$367	86
6300 Seawall Blvd #9308	0.20mi	1/1.0	474 (+3%)	0mo	$137,900	$291	86
6300 Seawall Blvd #3320	0.20mi	1/1.0	474 (+3%)	0mo	$120,000	$253	86
6300 Seawall Blvd #3105	0.20mi	1/1.0	474 (+3%)	1mo	$130,000	$274	86
6300 Seawall Blvd #3308	0.20mi	1/1.0	474 (+3%)	3mo	$140,000	$295	84
6300 Seawall Blvd #3202	0.20mi	1/1.0	474 (+3%)	3mo	$139,000	$293	83
1910 48th St	1.35mi	1/1.0	576 (+25%)	1mo	$145,000	$252	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

IRR: -92.8%
Equity multiple: -1.30×
Total profit: $-72,057
Equity at exit: $16,685

10-year hold

IRR: —
Equity multiple: -3.05×
Total profit: $-126,746
Equity at exit: $9,675

Cash invested: $31,332 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

Overall (STATE): 87 Strongly Landlord-Friendly
State Texas: 87 Strongly Landlord-Friendly · R+5
County: — inherits STATE
City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

Active competition Active MLS

For sale now: 3 active
Median asking: $129,000 ($279/sqft)
Median days on market: 120 d
This list price: lowest-priced of the active set
ARV vs active asking: +39.0% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77551

Home prices YoY: -23.3%
Rents YoY: 4.3%
Active inventory: 446
Price-to-rent: 9.2×

Monthly cashflow live

Estimated rent: $1,011 medium interval (Pro) →
Mortgage (P&I): −$587
Tax est. 1.5%: −$140 /mo · $1,678/yr
Insurance: −$47
Flood insurance flood zone: −$427 /mo · $5,118/yr
HOA: −$475
Lot rent: −$0
Vacancy / Maint / Mgmt: −$212
Net cashflow: $-876

Break-even live

Break-even rent $2,120

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-799	-5% $-838	+0% $-876	+5% $-915	+10% $-954
Rent	-10% $-956	-5% $-916	+0% $-876	+5% $-836	+10% $-796
Rate	-1.0pp $-820	-0.5pp $-848	base $-876	+0.5pp $-905	+1.0pp $-935

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

Down payment: $27,975
Closing costs: $3,357
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Property features AI

Finance

Other: Pets not allowedLease not considered
HOA & community: Association: Casa del MarMonthly association fee ($475) includes common areas, cable TV, structure maintenance, sewer, and water

Exterior

Parking: GarageAdditional parking
Security: Guard at community
Utilities: Public waterPublic sewer
Home design: Residential property3 storiesBuilt in 1985
Construction: Stucco exterior
Exterior features: In-ground poolConcrete road surfaceCommunity poolCurbs

Interior

Kitchen: DishwasherElectric cooktopElectric ovenDisposalMicrowaveRefrigerator
Bedrooms: Primary bedroom on first floor (approx. 11 x 9)
Bathrooms: 1 full bathroom
Heating & cooling: Central heating (electric)Central air conditioning (electric)
Interior features: Breakfast barKitchen/family room comboProgrammable thermostat

HOA detail $475/mo · $5,700/yr condo

Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

2026-08-08

days on market $111,900 Active 97 DOM
2026-08-06

days on market $111,900 Active 95 DOM
2026-08-05

days on market $111,900 Active 94 DOM
2026-08-04

days on market $111,900 Active 93 DOM
2026-08-03

days on market $111,900 Active 92 DOM
2026-07-31

days on market $111,900 Active 89 DOM
2026-07-30

days on market $111,900 Active 87 DOM
2026-07-28

days on market $111,900 Active 86 DOM
2026-07-26

days on market $111,900 Active 84 DOM
2026-07-24

days on market $111,900 Active 82 DOM
2026-07-23

days on market $111,900 Active 81 DOM
2026-07-22

days on market $111,900 Active 80 DOM
2026-07-21

days on market $111,900 Active 79 DOM
2026-07-20

days on market $111,900 Active 78 DOM
2026-07-18

days on market $111,900 Active 76 DOM
2026-07-18

days on market $111,900 Active 75 DOM
2026-07-16

days on market $111,900 Active 74 DOM
2026-07-15

days on market $111,900 Active 73 DOM
2026-07-14

days on market $111,900 Active 72 DOM
2026-07-13

days on market $111,900 Active 71 DOM
2026-07-13

days on market $111,900 Active 70 DOM
2026-07-11

days on market $111,900 Active 69 DOM
2026-07-10

days on market $111,900 Active 68 DOM
2026-07-09

days on market $111,900 Active 67 DOM
2026-07-07

days on market $111,900 Active 65 DOM
2026-07-06

days on market $111,900 Active 64 DOM
2026-07-06

days on market $111,900 Active 63 DOM
2026-07-05

days on market $111,900 Active 62 DOM
2026-07-03

days on market $111,900 Active 61 DOM
2026-07-02

days on market $111,900 Active 60 DOM
2026-07-01

days on market $111,900 Active 59 DOM
2026-06-30

days on market $111,900 Active 58 DOM
2026-06-29

days on market $111,900 Active 57 DOM
2026-06-28

days on market $111,900 Active 56 DOM
2026-06-27

days on market $111,900 Active 55 DOM
2026-06-26

days on market $111,900 Active 54 DOM
2026-06-24

days on market $111,900 Active 52 DOM
2026-06-22

days on market $111,900 Active 50 DOM
2026-06-21

days on market $111,900 Active 49 DOM
2026-06-18

days on market $111,900 Active 46 DOM
2026-06-17

days on market $111,900 Active 45 DOM
2026-06-16

days on market $111,900 Active 44 DOM
2026-06-15

days on market $111,900 Active 43 DOM
2026-06-13

days on market $111,900 Active 41 DOM
2026-06-09

days on market $111,900 Active 37 DOM
2026-06-08

days on market $111,900 Active 36 DOM
2026-06-07

days on market $111,900 Active 35 DOM
2026-06-04

days on market $111,900 Active 32 DOM
2026-06-03

days on market $111,900 Active 31 DOM
2026-06-02

days on market $111,900 Active 30 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
🔥 Wildfire 1/10 Low
🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 22 d/yr by 30 yrs out
💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $12,130
− Mortgage interest: −$6,268
− Property taxes: −$1,678
− Insurance: −$5,678
− Repairs & maintenance: −$970
− Management: −$970
− HOA: −$5,700
− Depreciation: −$3,255
Taxable loss: −$12,391

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$2,974
After-tax cash flow: $-7,542/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $2,310–$6,930 screening

This well-maintained and updated condo is ready for immediate occupancy and can be easily enhanced with minor cosmetic upgrades to further increase its value.

Value-add opportunities

Both Paint exterior walls — Fresh paint enhances curb appeal and can increase both resale and rental value. ↑
Both Replace light fixture in kitchen — A new light fixture can improve the kitchen's appearance and functionality. ↑
Both Replace light fixture in bathroom — A new light fixture can improve the bathroom's appearance and functionality. ↑
Both Replace shower curtain — A new shower curtain can improve the bathroom's appearance and functionality. ↑
Both Replace light fixture in living area — A new light fixture can improve the living area's appearance and functionality. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 56/100

Zoned Schools

Elementary Oppe El B TX #291/4,322 Nat'l #5,891/41,679 Middle Austin Middle A TX #35/1,662 Nat'l #537/14,009 High Ball H S F TX #1,085/1,632 Nat'l #10,882/17,239

Schools (NCES district)

District: Galveston ISD
NCES district ID: 4820280
Math proficiency: 33% ▼ -14.00%
Reading proficiency: 39% ▼ -4.00%
Median HH income: $40,162
Composite: 30.22/100
National rank: #6299
State rank: #514 of 826 in TX

B Composite livability gradescore 76/100

Livability — Galveston

Score: 76/100
State rank: #108
US rank: #3559

Category grades

Amenities D+ Commute A+ Cost of living A+ Crime F Employment D Housing A+ Health & safety A- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Galveston, TX
County: Galveston County · 390,640 people
City population: 55,599
Metro: Houston-The Woodlands-Sugar Land, TX
Population (ZIP): 21,696
Household income: $58,344
Rent vs Own: 51.8% rent · 48.2% own
Severe rent burden: 14% of renters

Population outlook (Galveston County) Hauer SSP2

Today (2025): 390,640 people
By 2030: 425,226 · +8.9%
By 2040: 493,765 · +26.4%
By 2050: 559,698 · +43.3%
By 2075: 719,260 · +84.1%
By 2100: 819,628 · +109.8%

Race, ethnicity, and origin ACS 2023

Neighborhood character: Diverse neighborhood (Simpson 0.64)
Race & ethnicity: White 47% Hispanic / Latino 35% Two or more races 19% Black 14% Asian 2%
Hispanic origin (detail): Mexican 22%
Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
Foreign-born: 17% · Canada, Jamaica
Languages at home: 69% English-only · Spanish 25% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Galveston

2024 margin: Strong R (+27.4) · D 35.7% · R 63.1% · Other 1.2%
2008→2024 swing: -7.9pp toward R · 2008: -19.5pp · 2024: -27.4pp
All cycles: 2024: R+27.4 2020: R+22.6 2016: R+22.6 2012: R+26.9 2008: R+19.5

Not yet ingested

Civics: —

Market trends

HPI YoY: ▼ -82.84%
Current HPI: 273.0717
Rent YoY: ▲ 4.28%
Metro: Houston-The Woodlands-Sugar Land, TX
State GDP YoY: ▲ 3.95%
F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
Energy	16	$1,198B
#8 Exxon Mobil Spring $349.6B #16 Chevron Houston $202.8B #28 Phillips 66 Houston $145.5B #34 Valero Energy San Antonio $124.0B #53 Energy Transfer Dallas $82.7B #75 ConocoPhillips Houston $57.0B #78 Enterprise Products Partners Houston $56.2B #92 Plains GP Holdings Houston $50.1B #134 HF Sinclair Dallas $29.6B #142 Occidental Petroleum Houston $26.3B #173 Targa Resources Houston $19.4B #188 Cheniere Energy Houston $17.6B #239 Kinder Morgan Houston $15.3B #419 APA Corporation Houston $8.6B #393 Cabot Oil & Gas Houston $7.9B #455 Coterra Energy Houston $5.8B
Technology	5	$198B
#44 Dell Technologies Round Rock $95.6B #87 Oracle Austin $53.0B #132 Hewlett Packard Enterprise Spring $30.1B #193 Texas Instruments Dallas $16.3B #406 Match Group Dallas $3.4B
Engineering / Construction	4	$72B
#228 Quanta Services Houston $23.7B #258 Jacobs Solutions Dallas $16.3B #318 AECOM Dallas $16.1B #279 Fluor Irving $16.1B
Energy Services	3	$60B
#136 Baker Hughes Houston $28.5B #154 Halliburton Houston $23.1B #368 Smith International Houston $8.4B
Utilities	3	$41B
#194 Vistra Irving $16.3B #211 NRG Energy Houston $15.4B #259 CenterPoint Energy Houston $9.4B
Healthcare	2	$330B
#9 McKesson Irving $309.0B #163 Tenet Healthcare Dallas $20.6B

Price history

-37.3% since first listed

8 events — show timeline

2026-05-03 Listed $111,900 HARMLS
2026-01-31 Rental Removed $1,325 HARMLS
2026-01-29 Price Changed $1,325 HARMLS
2025-10-08 Listed for Rent $1,200 HARMLS
2024-04-16 Pending — HARMLS
2024-04-15 Listing Removed — HARMLS
2024-03-04 Price Changed $149,900 HARMLS
2024-02-05 Listed $178,600 HARMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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