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$325,000

2400 Mechanic Street 402, Galveston, TX, 77550

On MarketInfo
Beds— Beds
Baths1 Bath
Baths893 Sq Ft
Condos / TownhousesCondos / Townhouses
price_per_sqft$363.94 / sqft
Year BuiltBuilt in 2014

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms —Bedrooms —
Bathrooms Full 1Bathrooms Full 1
AppliancesRefrigerator Included, Electric Oven, Oven, Microwave, Electric Cooktop, Dryer, Full Size, Refrigerator, Washer/Dryer Stacked, Washer, Dishwasher, Washer/Dryer
FlooringWood

Exterior

Exterior FeaturesExercise Room, Storage, Trash Chute
Lot Size893 sqft

Building Information

Year Built2014
Stories1

Land Information

APN6778-0000-0402-000
SubdivisionThe Strand Lofts Condos (2015) Abst 628
Land UseResidential
Legal DescriptionTHE STRAND LOFTS CONDOS (2015) ABST 628, UNIT 402, 1.95% COMMON AREA INTEREST
Census Tract724500
Assessed Land Value$57,120
Assessed Improvement Value$177,880
Assessment Year2025

About this property

Located in the iconic Clarke & Courts Building, this beautiful downtown efficiency offers an antique brick wall with windows offering a view of the Mardi Gras parades. The open concept kitchen boasts abundant cabinetry that extends to the ceiling, an island offering plenty of space for dining or entertaining, and a living room with custom cabinetry and room for a bed. Wood floors add warmth to the unit. The unit has a large bathroom with double sinks and a full size new washer/dryer. Upgrades to this unit in the last year include new HVAC and ductwork, new hot water heater, new dishwasher, new refrigerator, new antique pendant fixtures over island, custom solar shades, Wi-fi enabled thermostat, and much more (see attached list in MLS). A new building elevator has been installed, a new parking garage is under construction along with a swimming pool, and a new roof in 2024. All assessments have been paid. Some furniture may be available for sale under a separate Bill of Sale.

Investor Tools

$133,376Estimated Mortgage Balance
$227,624Estimated Equity
63% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,166 /month
Positive
Cash Flow Estimate:
$722 /month

Interested in this property?

Kathy Kendrick

Sand N Sea Properties, LLC

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$591/month
$746/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$5,281
$235,000
2025
$57,120
$177,880
$235,000
No

Tax History

Year
Tax Paid
Assessed Value
2024
$5,281
$235,000

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
City Bank
Conventional
$135,000
No
First
Mar 31, 2025
Apr 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$133,376
$227,624
63%
37%
$894/mo

City: Galveston