6102 Seawall Blvd #166 · Galveston, TX 77551

$110,000

1 bd · 1.0 ba · 462 sqft · Condo · 164 Days on market

Built 1985 Good condition $238/sqft · 39% below area Est $181k · 39% under $475/mo HOA · 47% of rent ↓ 46% since listing

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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 +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Cash flow +1.4/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your coastal getaway is ready for you to enjoy- turnkey condo designed for relaxing beach escapes, weekend getaways, or lucrative vacation rentals. The private bedroom offers a peaceful retreat, while built-in bunk beds tucked into the hallway alcove provide the perfect spot for kids or extra guests. An open living area to comfortably accommodate family and friends. Your private balcony is a perfect spot to enjoy your water views. Positioned directly across the street from the beach. Located along the famous Seawall corridor, this condo places you minutes from top attractions including Moody Gardens, Galveston Island Historic Pleasure Pier, fishing piers, water parks, and miles of sandy shoreline. Restaurants, beach bars, shopping, and entertainment are all within easy reach, making every stay enjoyable. Furniture appliances and decor included.

Key facts

• Water views
• Private bedroom
• Private balcony

Tags

• PRIVATE BEDROOM
• BUILT-IN BUNK BEDS
• OPEN LIVING AREA
• PRIVATE BALCONY
• WATER VIEWS
• FISHING PIERS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-863 ($-10k/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 (8.1% below list).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• 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 $761 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 164 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $32k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $96,800 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.92% ✗
• Cap rate: 1.53%
• Cash-on-cash: -17.01%
• DSCR: 0.24
• GRM: 9.1

CMA / ARV

• ARV (median comp): $181,257
• List price: $110,000
• Delta: -39.31%
• 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: -92.9%
• Equity multiple: -1.30×
• Total profit: $-70,912
• Equity at exit: $16,401

10-year hold

• IRR: —
• Equity multiple: -3.05×
• Total profit: $-124,673
• Equity at exit: $9,511

Cash invested: $30,800 (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: +40.5% 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: 9.1×

Monthly cashflow live

• Estimated rent: $1,011 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$475
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $-863

Break-even live

Break-even rent $2,103

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-787	-5% $-825	+0% $-863	+5% $-901	+10% $-939
Rent	-10% $-943	-5% $-903	+0% $-863	+5% $-823	+10% $-783
Rate	-1.0pp $-808	-0.5pp $-835	base $-863	+0.5pp $-892	+1.0pp $-921

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: $27,500
• Closing costs: $3,300
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

HOA detail $475/mo · $5,700/yr condo

• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $110,000 Active 164 DOM
2. 2026-08-06
   days on market $110,000 Active 162 DOM
3. 2026-08-05
   days on market $110,000 Active 161 DOM
4. 2026-08-04
   days on market $110,000 Active 160 DOM
5. 2026-08-03
   days on market $110,000 Active 159 DOM
6. 2026-07-31
   days on market $110,000 Active 156 DOM
7. 2026-07-30
   days on market $110,000 Active 154 DOM
8. 2026-07-28
   days on market $110,000 Active 153 DOM
9. 2026-07-26
   days on market $110,000 Active 151 DOM
10. 2026-07-24
    days on market $110,000 Active 149 DOM
11. 2026-07-23
    days on market $110,000 Active 148 DOM
12. 2026-07-22
    days on market $110,000 Active 147 DOM
13. 2026-07-21
    days on market $110,000 Active 146 DOM
14. 2026-07-20
    days on market $110,000 Active 145 DOM
15. 2026-07-18
    days on market $110,000 Active 143 DOM
16. 2026-07-18
    days on market $110,000 Active 142 DOM
17. 2026-07-16
    days on market $110,000 Active 141 DOM
18. 2026-07-15
    days on market $110,000 Active 140 DOM
19. 2026-07-14
    days on market $110,000 Active 139 DOM
20. 2026-07-13
    days on market $110,000 Active 138 DOM
21. 2026-07-13
    days on market $110,000 Active 137 DOM
22. 2026-07-11
    days on market $110,000 Active 136 DOM
23. 2026-07-09
    days on market $110,000 Active 134 DOM
24. 2026-07-07
    days on market $110,000 Active 132 DOM
25. 2026-07-06
    days on market $110,000 Active 131 DOM
26. 2026-07-06
    days on market $110,000 Active 130 DOM
27. 2026-07-05
    days on market $110,000 Active 129 DOM
28. 2026-07-03
    days on market $110,000 Active 128 DOM
29. 2026-07-02
    days on market $110,000 Active 127 DOM
30. 2026-07-01
    days on market $110,000 Active 126 DOM
31. 2026-06-30
    days on market $110,000 Active 125 DOM
32. 2026-06-29
    days on market $110,000 Active 124 DOM
33. 2026-06-28
    days on market $110,000 Active 123 DOM
34. 2026-06-27
    days on market $110,000 Active 122 DOM
35. 2026-06-26
    days on market $110,000 Active 121 DOM
36. 2026-06-24
    days on market $110,000 Active 119 DOM
37. 2026-06-22
    days on market $110,000 Active 117 DOM
38. 2026-06-21
    days on market $110,000 Active 116 DOM
39. 2026-06-18
    days on market $110,000 Active 113 DOM
40. 2026-06-17
    days on market $110,000 Active 112 DOM
41. 2026-06-16
    days on market $110,000 Active 111 DOM
42. 2026-06-15
    days on market $110,000 Active 110 DOM
43. 2026-06-13
    days on market $110,000 Active 108 DOM
44. 2026-06-09
    days on market $110,000 Active 104 DOM
45. 2026-06-08
    days on market $110,000 Active 103 DOM
46. 2026-06-07
    pricedays on market $110,000 Active 102 DOM
47. 2026-06-04
    days on market $129,000 Active 99 DOM
48. 2026-06-03
    days on market $129,000 Active 98 DOM
49. 2026-06-02
    days on market $129,000 Active 97 DOM
50. 2026-06-01
    days on market $129,000 Active 96 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

Taxation est. · year 1

• Rental income: $12,130
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$5,668
• − Repairs & maintenance: −$970
• − Management: −$970
• − HOA: −$5,700
• − Depreciation: −$3,200
• Taxable loss: −$12,191
• Est. tax savings @ 24.0%: +$2,926
• After-tax cash flow: $-7,432/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 80/100 None rehab

This turnkey condo is in good condition with a good location and beach views. It's ready for immediate rental or resale.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and adds value. ↑
• Both Clean gutters — Improves drainage and adds to overall appearance. ↑

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

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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%

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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%

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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

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Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-46.0% since first listed

6 events — show timeline

• 2026-03-18 Price Changed $129,000 HARMLS
• 2026-02-25 Listed $142,500 HARMLS
• 2022-07-27 Sold (MLS) — HARMLS
• 2022-06-20 Pending — HARMLS
• 2022-05-16 Price Changed $219,000 HARMLS
• 2022-04-16 Listed $239,000 HARMLS