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$158,000

For Sale - Active
7098 N Holiday Dr, Galveston, TX 77550
1 Bed
1 Bath
724 Square Feet
724.00 Acres Lot
Built in 1980
For Sale - Active
Units n/a
Checked: 4 hours ago
Updated: Aug 19, 2025 at 03:55PM

Investment Summary


Monthly Cash Flow
-$427
Cap Rate
2.4%
Cash-on-Cash Return
-14.1%
Debt Coverage Ratio
0.43
Internal Rate of Return (5 years)
-9.6%

Property Description


724.00 Acres Lot
Built in 1980
For Sale - Active
Units n/a

Great investment opportunity! Currently leased through August 2026! Experience comfortable coastal living in this conveniently located second-floor, 1-bedroom condo near the University of Texas Medical Branch (UTMB) and downtown Galveston. This condo features a thoughtfully designed living space. The open-concept layout maximizes comfort, with a cozy living area, well-appointed kitchen, and washer/dryer inside the unit. The unit comes with an assigned parking space, expansive storage space, and the community is well-maintained with a private pool for residents. Immerse yourself in the vibrant community of Galveston, known for its rich history, stunning beaches, and eclectic dining and entertainment options. Whether you're exploring the charming downtown area, soaking up the sun on the beach, or enjoying outdoor activities along the coast, there's always something exciting to discover.

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Location


Property Details


Parking

  • Description: Unassigned
  • Details: Assigned, Unassigned
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 1
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Foundation: Slab
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • HOA Fee: $434/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 595000027098000
  • Lot Size: 31537440 sqft

Property Information

  • Property Type: Condominium
  • Style: Traditional
  • Year Built: 1980

Tax Information

  • Annual Tax: $2,537

Utilities

  • Water & Sewer: Public
  • Heating: Electric
  • Cooling: Electric

Location

  • County: Galveston

Listing Details


Listed by:
Erin Rapp
Rapp Management Company, Inc.
(713) 444-4041

Source:
Houston Association of REALTORS
MLS#: 10301102
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
-$427
Cap Rate
2.4%
Cash-on-Cash Return
-14.1%
Debt Coverage Ratio
0.43
Internal Rate of Return (5 years)
-9.6%

Purchase Details

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Purchase price:
$158,000
Amount financed:
-$126,400
Down payment:
$31,600
Closing costs:
$4,740
Rehab costs:
$0
Initial cash invested:
$36,340
Square feet:
724
Cost per square foot:
$218
Monthly rent per square foot:
$1.93

Financing Details

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Loan amount:
$126,400
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$748
Property tax:
$211
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,057

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$211-$2,537
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (31%)
31%-$434-$5,208
Total operating expenses: (71%)
71%-$995-$11,945

Cash Flow


Monthly Yearly
Net operating income:
$321 $3,852
Mortgage payments:
-$748 -$8,976
Cash flow:
$427 $5,124