Galveston 7-Condo STR Deal w/ Seller Financing $1.05M

3506 Cove View Blvd, Galveston

ROI

32.61% IRR

Strategy

Short Term Rental

Sellers carry terms: 15% down, 4.5% interest for this set of cashflowing condos in Galveston. 6 of the 7 units are tenant occupied with long term tenants. One unit is being held open to accommodate showings. The property is already a strong cashflow producer as a LTR and will also pencil with significant upside as a STR. Even using conservative average nightly Airbnb rates and occupancy rates the units will average $3000 per month per door. HOA dues are $3050 per month and include cable tv, common area landscaping, exterior building, garbage service, insurance, recreational facilities access, water and sewer. No STR restrictions. Several other STRs are in this complex.

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Galveston 7-Condo STR Deal w/ Seller Financing $1.05M

Listed 01/16/2026

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3506 Cove View Blvd, Galveston

Purchase Price:$1,050,000

Cash Outlay:$283,500

Cashflow:$2,709/mo

Cap Rate:8.26%

IRR:32.61%

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