In this paper, the modified properties were calculated for tube wave propagation in a fluid-filled borehole penetrating a permeable rock due to the presence of a mudcake which forms on the borehole wall. The mudcake was characterized by an impermeable elastic layer. The mudcake partial sealing mechanism was simulated using a finite membrane stiffness. Consequently, it was shown that the mudcake can reduce, but not eliminate, the permeability effects on the tube wave slowness and attenuation. Moreover, this paper discusses a variety of values for the relevant parameters especially the mudcake thickness and membrane stiffness. The important combinations of mudcake parameters were clarified by using an analytic expression for the low-frequency limit.