1103 Waco · Bolivar Peninsula, TX 77617

$299,000

3 bd · 2.0 ba · 960 sqft · SingleFamily · 59 Days on market

Built 2024 Good condition 3,746 sqft lot $311/sqft · 15% below area Est $353k · 15% under

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Why this score? — see what drove the C+ 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 +18.8/30.0
• ARV discount +14.4/15.0
• DSCR +5.9/10.0
• Schools +5.1/10.0
• 1% rule +5.0/10.0
• 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

• Breathtaking views
• Fishing pier
• Recreational park

Tags

• BREATHTAKING VIEWS
• 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 $299k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-367 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $246k (17.8% below list).
• Meets the 1% rule at list price ($3k rent vs $299k).
• Recommended offer: $246k (17.8% below list) — sets the bar for cash-flow.
• Cap rate 7.5% 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: schools D+, amenities F, commute 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.
• Market conditions: 228 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 $11k of equity ($2k loan paydown + $9k 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 ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $245,908 (17.8% 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 59 days. Have you received any prior offers? Is the seller open to a 18% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.00% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.33%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (median comp): $353,175
• List price: $299,000
• Delta: -15.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Waco	0.02mi	3/2.0	960 (0%)	14mo	$269,000	$280	88
2558 Audubon Ave	0.68mi	2/2.0 (-1)	1,100 (+15%)	23mo	$445,000	$405	20

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: 2.7%
• Equity multiple: 1.16×
• Total profit: $13,107
• Equity at exit: $134,443

10-year hold

• IRR: 6.3%
• Equity multiple: 1.96×
• Total profit: $80,082
• Equity at exit: $207,193

Cash invested: $83,720 (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 →

ZIP-level market 77617

• Active inventory: 228
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,998 medium
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $-367

Break-even live

Break-even rent $3,462

Max offer price $245,908

Occupancy floor —

Sensitivity live

Price	-10% $-160	-5% $-264	+0% $-367	+5% $-470	+10% $-574
Rent	-10% $-604	-5% $-485	+0% $-367	+5% $-248	+10% $-130
Rate	-1.0pp $-216	-0.5pp $-291	base $-367	+0.5pp $-444	+1.0pp $-523

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $299,000 Active 59 DOM
2. 2026-06-18
   days on market $299,000 Active 57 DOM
3. 2026-06-17
   days on market $299,000 Active 56 DOM
4. 2026-06-16
   days on market $299,000 Active 55 DOM
5. 2026-06-15
   days on market $299,000 Active 54 DOM
6. 2026-06-13
   days on market $299,000 Active 52 DOM
7. 2026-06-12
   days on market $299,000 Active 51 DOM
8. 2026-06-10
   days on market $299,000 Active 48 DOM
9. 2026-06-08
   days on market $299,000 Active 47 DOM
10. 2026-06-08
    days on market $299,000 Active 46 DOM
11. 2026-06-07
    pricedays on market $299,000 Active 45 DOM
12. 2026-06-03
    days on market $305,000 Active 42 DOM
13. 2026-06-02
    days on market $305,000 Active 41 DOM
14. 2026-06-01
    days on market $305,000 Active 40 DOM
15. 2026-05-31
    days on market $305,000 Active 39 DOM
16. 2026-05-01
    listed $305,000 Active 988-char remark

    Show marketing remark (988 chars)

    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.

17. 2026-04-22
    listed $305,000 Active 996-char remark

    Show marketing remark (996 chars)

    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.

18. 2024-06-21
    soldstatus Sold
19. 2024-05-10
    status Pending
20. 2024-04-15
    price $259,900
21. 2023-12-11
    listed $269,000 Active

ⓘ 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: $35,976
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$9,523
• − Repairs & maintenance: −$2,878
• − Management: −$2,878
• − Depreciation: −$8,698
• Taxable loss: −$9,235
• Est. tax savings @ 24.0%: +$2,216
• After-tax cash flow: $-2,186/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

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

Renovation cost estimate screening

Value-add ROI direction

• 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 ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

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
• City population: 2,957
• Population (ZIP): 38

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%

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%

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

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

Price history

+13.4% since first listed

6 events — show timeline

• 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