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B+

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Owner Contacts

$507,000

1502 Mechanic St, Galveston, TX, 77550

Off Market

3 Beds

3 Bath

1,768 Sq Ft

Single Family Residence

$206.45 / sqft

Built in 2000

Property Lead Type:

Absentee Owner

Highlights

Interior

Bedrooms 3

Bathrooms Full 3

Garage Available

Heating Central

Cooling

AppliancesDishwasher, Disposal, Dryer, Refrigerator, Washer, Microwave, Gas Range, Gas Oven, ENERGY STAR Qualified Appliances

FlooringLaminate, Tile, Wood

Exterior

Exterior FeaturesBalcony

Lot Size2,439 sqft

Building Information

Year Built1995

Stories2

Roof Type105

Garage Spaces1

Land Information

APN3505-0615-0008-002

Lot Number8

SubdivisionGalveston Townsite

Land UseResidential

Legal DescriptionABST 628 M B MENARD SUR S 57-9 FT OF LOT 8 (8-2) BLK 615 GALVESTON

Census Tract724300

Assessed Land Value$108,490

Assessed Improvement Value$328,050

Assessment Year2025

About this property

A darling Colonial on the East End of Galveston's Historic District that's nothing short of spectacular! 1502 Mechanic Street is situated in a PRIME location--Walking Distance to Landmark Restaurants, Ice Cream & Candy Shops, as well as Old Galveston Square. Just a short bike ride to UTMB makes for GREAT rental potential! Completely re-built in 2013, the Owner spared no expense in Quality of Materials & Construction; New Roof, New Wiring, Plumbing, Ductwork, Sheetrock; the entire home was completely gutted! Then..added all New Toilets, Bathtubs, Flooring, CUSTOM BUILT Cabinetry in Kitchen AND all Bathrooms & the list goes on! The renovation also included a FABULOUS ground level 940 sq ft gameroom not included on CAD as "livable" space, but you'll find it Fun & Entertaining! Bonus: a private bath too! Mini-split AC system (installed 2017). Recent 2019 updates: LED recessed lighting, outdoor fixtures, epoxy gameroom floor, stained decking & stairs. Call Today for your Private Showing!

Investor Tools

$507,000

Estimated Property Value

$337,565Estimated Mortgage Balance

$184,668Estimated Equity

33% equity

Estimated Cap Rate

View Rate

Estimated ARV (After-Repair Value)

Calculate ARV

Rent-to-Value Ratio: 0.72%

Rent Estimate

$3,042 /month

Positive

Cash Flow Estimate:

$1,014 /month

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Financing Details

Estimated Taxes & Insurance

HOA Fees

Interest Rate Assumption

$648/month

No HOA

5.947%

Tax Information

Annual Taxes

Assessed Value

Assessment Year

Assessed Land

Assessed Improvement

Market Value

Tax Delinquent

$5,236

$436,540

2025

$108,490

$328,050

$436,540

Tax History

Year

Tax Paid

Assessed Value

2024

$5,236

$436,540

Mortgage Details

Lender

Loan Type

Loan Amount

Assumable

Position

Origination Date

Maturity Date

Network Funding Lp

Fha

$337,565

Yes

First

Mar 5, 2020

Apr 2050

Equity Summary

Est. Mortgage Balance

Est. Equity

Equity %

LTV

Est. Monthly Payment

$322,332

$165,668

33%

64%

$2,193/mo

Learn About the Market: Opportunity in Texas

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Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

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