997 S Redfish St · Bolivar Peninsula, TX 77650

$699,000

6 bd · 5.0 ba · 2,124 sqft · SingleFamily public records · 16 Days on market

Built 2019 Good condition 5,998 sqft lot Garage $329/sqft · at area comps Est $713k · at est.

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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 +18.6/30.0
• ARV discount +8.4/15.0
• DSCR +5.9/10.0
• Schools +4.7/10.0
• 1% rule +4.4/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Appreciation +2.7/10.0
• Rent growth +2.5/5.0

Listing remarks

This 6-bedroom, 5-bath beach house is thoughtfully designed for short-term rentals. Sleeping 22, this meticulously maintained beach house features built-in bunk beds and ensuite baths for nearly every bedroom, providing comfort and privacy for large groups. Take note of the tall ceilings and doors, granite countertops, and luxury vinyl plank flooring throughout. The ground level is an entertainer’s paradise with a firepit, hot tub, convenient bathroom, and plenty of parking. Upstairs, the primary suite opens to a private deck with stunning views — perfect for morning coffee or sunset cocktails. Located on a beach-access street, just a short stroll or golf cart ride to the sand.

Key facts

• Ensuite baths
• Firepit
• Hot tub

Tags

• BUILT-IN BUNK BEDS
• ENSUITE BATHS
• TALL CEILINGS
• LUXURY VINYL PLANK FLOORING
• FIREPIT
• HOT TUB

What this means for you Summary

Snapshot

• This is a 6-bed/5.0-bath single-family listed at $699k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $9 ($112/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $655k (6.3% below list).
• Recommended offer: $655k (6.3% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 2.6% 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.
• Galveston ISD (town): math 33% / reading 39% proficiency, ranked #514 of 826 in TX (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Oppe El (math 67% / reading 60%, grade B, #291 of 4,322 statewide, top 7%, 610 students, 63% FRL); Central Middle (math 18% / reading 21%, grade F, #1,445 of 1,662 statewide, top 88%, 879 students, 80% FRL); Ball H S (math 17% / reading 44%, grade F, #1,085 of 1,632 statewide, top 67%, 1,934 students, 73% FRL) — zoned schools at 72% FRL track the district average.
• Market conditions: 1065 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).
• At $6,552/mo this rent would consume 110% of the median local household income ($72k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Galveston County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($689k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y 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; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $655,200 (6.3% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.16%
• DSCR: 1.19
• GRM: 8.9

CMA / ARV

• ARV (median comp): $713,286
• List price: $699,000
• Delta: -2.00%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
950 Seadrift Dr	0.25mi	5/3.5 (-1)	2,200 (+4%)	2mo	$635,000	$289	70
2635 Holiday Dr	0.77mi	5/4.5 (-1)	2,200 (+4%)	12mo	$995,000	$452	42
907 S Cv	0.27mi	6/3.0	2,496 (+18%)	24mo	$710,000	$284	34
2804 Tradewind Ln	0.35mi	5/3.0 (-1)	1,890 (-11%)	35mo	$937,000	$496	32
953 Pelican Ln	0.96mi	5/5.5 (-1)	2,650 (+25%)	11mo	$875,000	$330	24
2601 Whitecap	0.85mi	5/2.0 (-1)	2,322 (+9%)	13mo	$647,500	$279	22
2629 Whitecap	0.79mi	5/4.0 (-1)	2,448 (+15%)	13mo	$725,000	$296	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: -16.2%
• Equity multiple: 0.43×
• Total profit: $-112,369
• Equity at exit: $104,223

10-year hold

• IRR: -7.8%
• Equity multiple: 0.51×
• Total profit: $-95,845
• Equity at exit: $60,437

Cash invested: $195,720 (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 →

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

Active competition Active MLS

• For sale now: 4 active · 1 under contract
• Months of supply: 24.0 mo (4%/mo absorbed)
• Median asking: $817,000 ($421/sqft)
• Median days on market: 143 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -20.3% vs current asking $/sqft

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

ZIP-level market 77650

• Home prices YoY: -1.9%
• Active inventory: 1065
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $6,552 medium
• Mortgage (P&I): −$3,666
• Tax from tax record: −$541 /mo · $6,491/yr
• Insurance: −$291
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,376
• Net cashflow: $9

Break-even live

Break-even rent $6,540

Max offer price $699,000

Occupancy floor 95%

Sensitivity live

Price	-10% $405	-5% $207	+0% $9	+5% $-189	+10% $-386
Rent	-10% $-508	-5% $-249	+0% $9	+5% $268	+10% $527
Rate	-1.0pp $361	-0.5pp $187	base $9	+0.5pp $-172	+1.0pp $-356

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: $174,750
• Closing costs: $20,970
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
907 S Cove Dr Unit 1223255P Crystal Beach, TX	6.0	3.0	2497	$6,552	$2.62	0d	1	0.27mi

Property features AI

Finance

• HOA & community: Beach rightsBeach access

Exterior

• Parking: Attached, oversized garage with 1 spaceDriveway parkingRV access and parking
• Utilities: Public waterPublic sewer
• Home design: East-facing
• Construction: Built in 2019Cement and wood sidingComposition roof
• Exterior features: Covered patioDeckPatioHot tubBeachfrontSide yardViews

Interior

• Kitchen: Kitchen islandDishwasher, electric oven, electric range, microwave, cooktop, refrigerator
• Bedrooms: 6 bedrooms, all on the first floor
• Flooring: Plank and vinyl flooring
• Bathrooms: 5 full bathrooms
• Heating & cooling: Central electric heatingCentral electric air conditioning
• Interior features: Crown moldingEn suite bathroomsFull bath on the main levelHigh ceilingsKitchen/family room combinationMultiple primary suitesShower and tub-showerWindow coveringsCeiling fansProgrammable thermostatElectric fireplace
• Laundry & utility: Washer and dryerWasher hookup and electric dryer hookup

Listing history 50 events

1. 2026-11-08
   days on market $699,000 Active 16 DOM
2. 2026-11-07
   days on market $699,000 Active 15 DOM
3. 2026-11-06
   days on market $699,000 Active 14 DOM
4. 2026-11-05
   days on market $699,000 Active 13 DOM
5. 2026-11-04
   days on market $699,000 Active 12 DOM
6. 2026-11-02
   days on market $699,000 Active 10 DOM
7. 2026-11-01
   days on market $699,000 Active 9 DOM
8. 2026-10-31
   days on market $699,000 Active 8 DOM
9. 2026-10-30
   days on market $699,000 Active 7 DOM
10. 2026-10-29
    days on market $699,000 Active 6 DOM
11. 2026-10-28
    days on market $699,000 Active 5 DOM
12. 2026-10-27
    days on market $699,000 Active 4 DOM
13. 2026-10-26
    days on market $699,000 Active 3 DOM
14. 2026-10-25
    days on market $699,000 Active 2 DOM
15. 2026-10-24
    pricedays on marketlisting id $699,000 Active 1 DOM
16. 2026-10-22
    days on market $725,000 Active 87 DOM
17. 2026-10-21
    days on market $725,000 Active 86 DOM
18. 2026-10-20
    days on market $725,000 Active 85 DOM
19. 2026-10-19
    days on market $725,000 Active 84 DOM
20. 2026-10-18
    days on market $725,000 Active 83 DOM
21. 2026-10-17
    days on market $725,000 Active 82 DOM
22. 2026-10-16
    days on market $725,000 Active 81 DOM
23. 2026-10-15
    days on market $725,000 Active 80 DOM
24. 2026-10-14
    days on market $725,000 Active 79 DOM
25. 2026-10-13
    days on market $725,000 Active 78 DOM
26. 2026-10-12
    days on market $725,000 Active 77 DOM
27. 2026-10-11
    days on market $725,000 Active 76 DOM
28. 2026-10-10
    days on market $725,000 Active 75 DOM
29. 2026-10-09
    days on market $725,000 Active 74 DOM
30. 2026-10-08
    days on market $725,000 Active 73 DOM
31. 2026-10-07
    days on market $725,000 Active 72 DOM
32. 2026-10-06
    days on market $725,000 Active 71 DOM
33. 2026-10-05
    days on market $725,000 Active 70 DOM
34. 2026-10-04
    days on market $725,000 Active 69 DOM
35. 2026-10-04
    days on market $725,000 Active 68 DOM
36. 2026-10-02
    days on market $725,000 Active 67 DOM
37. 2026-10-01
    days on market $725,000 Active 66 DOM
38. 2026-09-30
    days on market $725,000 Active 65 DOM
39. 2026-09-29
    days on market $725,000 Active 64 DOM
40. 2026-09-28
    days on market $725,000 Active 63 DOM
41. 2026-09-27
    days on market $725,000 Active 62 DOM
42. 2026-09-26
    days on market $725,000 Active 61 DOM
43. 2026-09-25
    days on market $725,000 Active 60 DOM
44. 2026-09-24
    days on market $725,000 Active 59 DOM
45. 2026-09-23
    days on market $725,000 Active 58 DOM
46. 2026-09-22
    days on market $725,000 Active 57 DOM
47. 2026-09-21
    days on market $725,000 Active 56 DOM
48. 2026-09-20
    days on market $725,000 Active 55 DOM
49. 2026-09-19
    days on market $725,000 Active 54 DOM
50. 2026-09-18
    days on market $725,000 Active 53 DOM

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

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $6,491 · $541/mo
• Projected year-2 tax: $12,792 · $1,066/mo
• Expected delta: +$6,301/yr (+$525/mo · 97.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone VE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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: $78,624
• − Mortgage interest: −$39,155
• − Property taxes: −$6,491
• − Insurance: −$11,523
• − Repairs & maintenance: −$6,290
• − Management: −$6,290
• − Depreciation: −$20,335
• Taxable loss: −$11,459
• Est. tax savings @ 24.0%: +$2,750
• After-tax cash flow: $2,862/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 · 10 photos

Good 80/100 None rehab

This 6-bedroom, 5-bath beach house is in excellent condition with modern amenities and a prime location. It's ready for immediate rental or resale.

Components & finishes AI

Flooring laminate Counters granite Appliances stainless steel

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and aesthetics ↑

F Composite school gradezoned avg 47/100

Zoned Schools

Elementary Oppe El B TX #291/4,322 Nat'l #5,891/41,679 High Ball H S F TX #1,085/1,632 Nat'l #10,882/17,239

Schools (NCES district)

• District: Galveston ISD
• NCES district ID: 4820280
• Math proficiency: 33% ▼ -14.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $40,162
• Composite: 30.22/100
• National rank: #6299
• State rank: #514 of 826 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): 2,362
• Household income: $71,700
• Rent vs Own: 7.9% rent · 92.1% 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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 21% Two or more races 10% Black 8%
• Hispanic origin (detail): Mexican 14%
• Languages at home: 85% English-only · Spanish 14% German/W. Germanic 1%

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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: ▼ -4.52%
• Current HPI: 231.5074
• 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

• HOA & community: Beach rightsBeach access

Exterior

• Parking: Attached, oversized garage with 1 spaceDriveway parkingRV access and parking
• Utilities: Public waterPublic sewer
• Home design: East-facing
• Construction: Built in 2019Cement and wood sidingComposition roof
• Exterior features: Covered patioDeckPatioHot tubBeachfrontSide yardViews

Interior

• Kitchen: Kitchen islandDishwasher, electric oven, electric range, microwave, cooktop, refrigerator
• Bedrooms: 6 bedrooms, all on the first floor
• Flooring: Plank and vinyl flooring
• Bathrooms: 5 full bathrooms
• Heating & cooling: Central electric heatingCentral electric air conditioning
• Interior features: Crown moldingEn suite bathroomsFull bath on the main levelHigh ceilingsKitchen/family room combinationMultiple primary suitesShower and tub-showerWindow coveringsCeiling fansProgrammable thermostatElectric fireplace
• Laundry & utility: Washer and dryerWasher hookup and electric dryer hookup

Price history

+1065.0% since first listed

20 events — show timeline

• 2026-10-23 Listed $699,000 HARMLS
• 2026-10-22 Listing Removed — HARMLS
• 2026-07-27 Listed $725,000 HARMLS
• 2026-07-23 Listing Removed — HARMLS
• 2026-01-23 Listed $725,000 HARMLS
• 2026-01-22 Listing Removed — HARMLS
• 2025-09-25 Listed $750,000 HARMLS
• 2023-06-14 Sold (Public Records) — Public Records
• 2023-06-07 Sold (MLS) — Galveston MLS
• 2023-05-09 Delisted — Galveston MLS
• 2023-04-24 Price Changed $740,000 Galveston MLS
• 2023-04-24 Price Changed $740,000 HARMLS
• 2023-04-21 Price Changed $795,000 Galveston MLS
• 2023-04-20 Price Changed $795,000 HARMLS
• 2023-02-24 Listed $895,000 Galveston MLS
• 2018-06-28 Sold (MLS) — HARMLS
• 2018-05-17 Pending — HARMLS
• 2017-07-27 Relisted — HARMLS
• 2017-07-23 Listing Removed — HARMLS
• 2017-02-20 Listed $60,000 HARMLS

Property tax history

+44.2%/yr

Latest (2026): $6,491 · -13.9% YoY. Source: county tax records.