1103 N Waco · Bolivar Peninsula, TX 77617

$245,000

3 bd · 2.0 ba · 960 sqft · SingleFamily · 145 Days on market

Good condition $255/sqft · 31% below area Est $353k · 31% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• Schools +5.1/10.0
• Appreciation +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Discover the serene lifestyle of Gilchrist. This home offers the rare advantage of dual perspectives, featuring breathtaking views of both the Gulf of America and barge watching in the Intracoastal Canal. Start your mornings with coffee on the front deck watching the sunrise and end your evenings on the back deck taking in spectacular sunsets over the water. Whether you’ve spent the day fishing the canal or lounging on the sand, the private jacuzzi provides the perfect sanctuary to unwind and relax. Just moments away from the highly anticipated 1,000-foot fishing pier and recreational park at Rollover, which is set for completion by the end of the year. When you aren't enjoying the quiet of the decks, you are only a few miles from the vibrant nightlife and excellent food at the local bar and grill. Currently operating as a successful short-term rental, this home is being sold fully furnished, making it a seamless, turn-key investment or a ready-to-enjoy vacation home.

Key facts

• Fishing pier
• Recreational park
• Private jacuzzi

Tags

• PRIVATE JACUZZI
• FISHING PIER
• RECREATIONAL PARK
• FULLY FURNISHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-283 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (16.7% below list).
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $204k (16.7% below list) — sets the bar for cash-flow.
• Cap rate 8.2% vs local median 2.1% in Bolivar Peninsula — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#719 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• High Island ISD (rural): math 65% / reading 50% proficiency, ranked #177 of 1,141 in TX (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: High Island School (math 42% / reading 42%, 151 students, 60% FRL).
• Zoned-school proficiency averages 42% at this address vs 58% district-wide (-16 pts) — the specific schools serving this property underperform the High Island ISD average; the district grade overstates school quality for this exact location.
• Market conditions: 305 active listings in the ZIP; 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• Galveston County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $60k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo.
• Climate carrying-cost: in FEMA flood zone VE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,089 (16.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.76%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (median comp): $353,167
• List price: $245,000
• Delta: -30.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Waco	0.02mi	3/2.0	960 (0%)	17mo	$269,000	$280	85
1107 Waco	0.01mi	3/2.0	900 (-6%)	30mo	$269,000	$299	69
1127 Waco	0.04mi	3/2.0	900 (-6%)	31mo	$275,000	$306	68
1131 Waco	0.05mi	3/2.0	900 (-6%)	33mo	$275,000	$306	67
1004 Turrentine Ave	0.24mi	2/1.0 (-1)	992 (+3%)	28mo	$297,000	$299	54
1024 Faggards Slip Rd	0.23mi	2/2.0 (-1)	1,022 (+6%)	30mo	$379,900	$372	53
996 Alicia Dr	0.41mi	2/2.0 (-1)	1,178 (+23%)	0mo	$529,000	$449	50
2518 Audubon Ave	0.58mi	2/2.0 (-1)	1,176 (+22%)	14mo	$399,000	$339	31
1018 Sea Gull St	0.48mi	3/1.5	1,152 (+20%)	26mo	$350,000	$304	31
1060 Rollover Ln	0.52mi	2/1.0 (-1)	864 (-10%)	34mo	$390,000	$451	30
1038 Elizabeth St	0.87mi	2/2.0 (-1)	1,151 (+20%)	12mo	$575,000	$500	25
2558 Audubon Ave	0.68mi	2/2.0 (-1)	1,100 (+15%)	26mo	$445,000	$405	19

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.17×
• Total profit: $11,958
• Equity at exit: $110,163

10-year hold

• IRR: 6.5%
• Equity multiple: 2.00×
• Total profit: $68,462
• Equity at exit: $169,774

Cash invested: $68,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 10 active · 1 under contract
• Months of supply: 60.0 mo (2%/mo absorbed)
• Median asking: $427,000 ($390/sqft)
• Median days on market: 101 d
• This list price: 10% of active listings are priced below it
• ARV vs active asking: -5.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77617

• Active inventory: 305
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,632 medium
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $-283

Break-even live

Break-even rent $2,990

Max offer price $204,089

Occupancy floor —

Sensitivity live

Price	-10% $-113	-5% $-198	+0% $-283	+5% $-367	+10% $-452
Rent	-10% $-491	-5% $-387	+0% $-283	+5% $-179	+10% $-75
Rate	-1.0pp $-159	-0.5pp $-220	base $-283	+0.5pp $-346	+1.0pp $-411

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $61,250
• Closing costs: $7,350
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Total living area approximately 960Lot about 3,746 square feet
• Financial info: Lease not considered

Exterior

• Utilities: Aerobic septic system
• Home design: Residential propertyFaces eastHas a view
• Construction: Built in 2024Cement siding
• Exterior features: Composition roof

Interior

• Kitchen: Electric ovenElectric range
• Bedrooms: Three bedrooms (all on the first floor) — two standard bedrooms and one primary bedroom
• Flooring: Plank flooringVinyl flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning (electric)
• Interior features: Views from the lot
• Laundry & utility: Washer hookupElectric dryer hookup

Listing history 50 events

1. 2026-09-23
   statusdays on marketlisting id $245,000 Active 145 DOM
2. 2026-09-17
   days on market $245,000 Pending 147 DOM
3. 2026-09-16
   days on market $245,000 Pending 146 DOM
4. 2026-09-14
   days on market $245,000 Pending 145 DOM
5. 2026-09-13
   days on market $245,000 Pending 144 DOM
6. 2026-09-12
   days on market $245,000 Pending 143 DOM
7. 2026-09-11
   statusdays on market $245,000 Pending 142 DOM
8. 2026-09-05
   days on market $245,000 Active 136 DOM
9. 2026-09-04
   days on market $245,000 Active 135 DOM
10. 2026-09-03
    days on market $245,000 Active 134 DOM
11. 2026-09-02
    pricedays on market $245,000 Active 133 DOM
12. 2026-08-31
    days on market $275,000 Active 130 DOM
13. 2026-08-29
    days on market $275,000 Active 129 DOM
14. 2026-08-28
    days on market $275,000 Active 128 DOM
15. 2026-08-27
    days on market $275,000 Active 127 DOM
16. 2026-08-26
    days on market $275,000 Active 126 DOM
17. 2026-08-25
    days on market $275,000 Active 125 DOM
18. 2026-08-24
    days on market $275,000 Active 124 DOM
19. 2026-08-23
    days on market $275,000 Active 123 DOM
20. 2026-08-22
    days on market $275,000 Active 122 DOM
21. 2026-08-21
    days on market $275,000 Active 121 DOM
22. 2026-08-20
    days on market $275,000 Active 120 DOM
23. 2026-08-19
    days on market $275,000 Active 119 DOM
24. 2026-08-18
    days on market $275,000 Active 118 DOM
25. 2026-08-17
    days on market $275,000 Active 117 DOM
26. 2026-08-16
    days on market $275,000 Active 116 DOM
27. 2026-08-15
    days on market $275,000 Active 115 DOM
28. 2026-08-14
    days on market $275,000 Active 114 DOM
29. 2026-08-13
    days on market $275,000 Active 113 DOM
30. 2026-08-12
    days on market $275,000 Active 112 DOM
31. 2026-08-11
    days on market $275,000 Active 111 DOM
32. 2026-08-10
    days on market $275,000 Active 110 DOM
33. 2026-08-09
    days on market $275,000 Active 109 DOM
34. 2026-08-08
    days on market $275,000 Active 108 DOM
35. 2026-08-07
    days on market $275,000 Active 107 DOM
36. 2026-08-06
    days on market $275,000 Active 106 DOM
37. 2026-08-05
    days on market $275,000 Active 105 DOM
38. 2026-08-04
    days on market $275,000 Active 104 DOM
39. 2026-08-03
    days on market $275,000 Active 103 DOM
40. 2026-07-31
    days on market $275,000 Active 100 DOM
41. 2026-07-30
    days on market $275,000 Active 99 DOM
42. 2026-07-29
    days on market $275,000 Active 98 DOM
43. 2026-07-27
    days on market $275,000 Active 96 DOM
44. 2026-07-25
    pricedays on market $275,000 Active 94 DOM
45. 2026-07-24
    days on market $299,000 Active 93 DOM
46. 2026-07-23
    days on market $299,000 Active 92 DOM
47. 2026-07-22
    days on market $299,000 Active 91 DOM
48. 2026-07-21
    days on market $299,000 Active 90 DOM
49. 2026-07-20
    days on market $299,000 Active 89 DOM
50. 2026-07-18
    days on market $299,000 Active 87 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone VE · 99% chance over 30 yrs
• 🔥 Wildfire 10/10 Extreme
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,586
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$9,253
• − Repairs & maintenance: −$2,527
• − Management: −$2,527
• − Depreciation: −$7,127
• Taxable loss: −$7,247
• Est. tax savings @ 24.0%: +$1,739
• After-tax cash flow: $-1,653/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $4,800–$14,400 screening

This home is in good condition with a good condition score of 75. It has a cosmetic rehab level and requires minimal repairs. The highest-ROI updates would be painting the exterior and replacing the HVAC system to increase both resale and rental value.

Value-add opportunities

• Both Paint the exterior deck and siding — Enhances curb appeal and value ↑
• Both Install a new roof — Long-term durability and increased value ↑
• Both Replace HVAC system — Improved comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

High High Island School

Schools (NCES district)

• District: High Island ISD
• NCES district ID: 4823160
• Math proficiency: 65% ▲ 30.00%
• Reading proficiency: 50% ▲ 15.00%
• Median HH income: $49,447
• Composite: 50.69/100
• National rank: #3933
• State rank: #177 of 1141 in TX

C Composite livability gradescore 65/100

Livability — Bolivar Peninsula

• Score: 65/100
• State rank: #719
• US rank: #13437

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment B- Housing A+ Health & safety F User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bolivar Peninsula, TX
• County: Galveston · 390,640 people
• City population: 2,957
• Metro: Houston-Pasadena-The Woodlands, TX
• Population (ZIP): 38
• Household income: $72,885
• Rent vs Own: 40.9% rent · 59.1% own

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Population outlook (Galveston County) Hauer SSP2

• Today (2025): 390,640 people
• By 2030: 425,226 · +8.9%
• By 2040: 493,765 · +26.4%
• By 2050: 559,698 · +43.3%
• By 2075: 719,260 · +84.1%
• By 2100: 819,628 · +109.8%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Lithuanian 18% Serbian 18%
• Languages at home: 84% English-only · Spanish 16%

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Political lean MEDSL · Galveston

• 2024 margin: Strong R (+27.4) · D 35.7% · R 63.1% · Other 1.2%
• 2008→2024 swing: -7.9pp toward R · 2008: -19.5pp · 2024: -27.4pp
• All cycles: 2024: R+27.4 2020: R+22.6 2016: R+22.6 2012: R+26.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Property features AI

Finance

• Other: Total living area approximately 960Lot about 3,746 square feet
• Financial info: Lease not considered

Exterior

• Utilities: Aerobic septic system
• Home design: Residential propertyFaces eastHas a view
• Construction: Built in 2024Cement siding
• Exterior features: Composition roof

Interior

• Kitchen: Electric ovenElectric range
• Bedrooms: Three bedrooms (all on the first floor) — two standard bedrooms and one primary bedroom
• Flooring: Plank flooringVinyl flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning (electric)
• Interior features: Views from the lot
• Laundry & utility: Washer hookupElectric dryer hookup

Price history

+11.2% since first listed

7 events — show timeline

• 2026-06-05 Price Changed $299,000 HARMLS
• 2026-05-01 Listed $305,000 BBOR
• 2026-04-22 Listed $305,000 HARMLS
• 2024-06-21 Sold (MLS) — HARMLS
• 2024-05-10 Pending — HARMLS
• 2024-04-15 Price Changed $259,900 HARMLS
• 2023-12-11 Listed $269,000 HARMLS