981 26 Gateway · Bolivar Peninsula, TX 77650

$329,900

2 bd · 2.0 ba · 1,040 sqft · SingleFamily · 116 Days on market

Built 2005 Good condition 6,750 sqft lot Garage $317/sqft · 11% below area Est $372k · 11% 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 +22.6/30.0
• ARV discount +12.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Schools +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Appreciation +2.7/10.0
• Rent growth +2.5/5.0

Listing remarks

Beautifully Updated Beach House with Stunning Views! Welcome to your dream coastal retreat! This gorgeous, updated beach house features fresh interior and exterior paint in modern, neutral tones that complement it's serene seaside setting. Step inside to a spacious open floor plan that's perfect for entertaining or relaxing. The built-in shelves in the living room offer both style and functionality, maximizing space for guests. The indoor utility room includes ample pantry space for all your storage needs. Step outside to a large wrap-around deck offering breathtaking views—ideal for morning coffee or evening sunsets.

Key facts

• Open floor plan
• Cargo lift
• Built-in shelves

Tags

• OPEN FLOOR PLAN
• BUILT-IN SHELVES
• INDOOR UTILITY ROOM
• LARGE WRAP-AROUND DECK
• CARGO LIFT
• PRIVATE DOWNSTAIRS PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $330k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-107 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $314k (4.7% below list).
• Meets the 1% rule at list price ($4k rent vs $330k).
• Recommended offer: $300k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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.
• 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: 1005 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).
• At $3,597/mo this rent would consume 60% 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 $2k of loan paydown is wiped out by about $10k 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 116 days — a 9% lower offer ($300k) is reasonable based on typical stale-listing flexibility.

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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $300,209 (9.0% 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 116 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.09% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.30%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

• ARV (median comp): $371,557
• List price: $329,900
• Delta: -11.21%
• 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
981 S Stingaree Dr	0.18mi	2/2.0	1,073 (+3%)	1mo	$339,000	$316	85
979 Palmridge Dr	0.41mi	3/2.0 (+1)	1,110 (+7%)	1mo	$365,000	$329	64
978 Nassau Dr	0.18mi	3/2.5 (+1)	960 (-8%)	11mo	$249,900	$260	63
2917 Tropicana Ct	0.28mi	3/2.0 (+1)	1,116 (+7%)	9mo	$475,000	$426	62
3271 Hidden Gold	0.63mi	3/2.0 (+1)	1,040 (0%)	9mo	$325,900	$313	58
978 Biscayne Dr	0.23mi	3/1.5 (+1)	1,080 (+4%)	21mo	$315,000	$292	58
965 Mary Lynn	0.69mi	3/2.0 (+1)	1,036 (-0%)	12mo	$379,000	$366	52
3259 Pirates Cv	0.61mi	2/1.0	957 (-8%)	3mo	$235,000	$246	52
907 Tidelands Dr	0.48mi	3/2.0 (+1)	1,107 (+6%)	23mo	$399,900	$361	43
3287 Hidden Gold	0.67mi	3/2.0 (+1)	1,178 (+13%)	9mo	$349,900	$297	34
971 Sand Dune Dr	0.59mi	2/1.5	896 (-14%)	18mo	$298,000	$333	32
2773 E Lazy Ln E	0.56mi	3/2.0 (+1)	1,188 (+14%)	19mo	$359,900	$303	30

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: -18.4%
• Equity multiple: 0.35×
• Total profit: $-59,835
• Equity at exit: $49,189

10-year hold

• IRR: -10.4%
• Equity multiple: 0.36×
• Total profit: $-59,024
• Equity at exit: $28,524

Cash invested: $92,372 (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: 34 active · 6 under contract
• Months of supply: 29.1 mo (3%/mo absorbed)
• Median asking: $398,500 ($335/sqft)
• Median days on market: 169 d
• This list price: 15% of active listings are priced below it
• ARV vs active asking: +6.5% 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: 1005
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,597 medium
• Mortgage (P&I): −$1,730
• Tax est. 1.5%: −$412 /mo · $4,948/yr
• Insurance: −$137
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$755
• Net cashflow: $-107

Break-even live

Break-even rent $3,733

Max offer price $314,353

Occupancy floor 98%

Sensitivity live

Price	-10% $121	-5% $7	+0% $-107	+5% $-221	+10% $-335
Rent	-10% $-392	-5% $-250	+0% $-107	+5% $35	+10% $177
Rate	-1.0pp $59	-0.5pp $-24	base $-107	+0.5pp $-193	+1.0pp $-280

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: $82,475
• Closing costs: $9,897
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
947 S Gateway Rd Unit 1624267P Crystal Beach, TX	3.0	2.0	1410	$3,729	$2.64	0d	1	0.03mi
3229 Castle Dr Unit 1353849P Crystal Beach, TX	3.0	2.0	1420	$2,880	$2.03	0d	1	0.54mi

Property features AI

Finance

• Other: Furnished
• HOA & community: Private trash pickup

Exterior

• Parking: Detached garage (1 car)
• Utilities: Cable TV availableCommercial water on siteElectric on siteSeptic on siteCommercial sewer on sitePrivate trash pickup on site
• Home design: Single-story home
• Construction: Pilings foundationComposition shingle roof
• Exterior features: DeckCleared lotOther view (see remarks)

Interior

• Kitchen: Range/CooktopRefrigeratorMicrowaveDishwasher
• Flooring: Vinyl
• Bathrooms: Has master bath
• Heating & cooling: Central electric heatingCentral electric cooling
• Interior features: Furniture remains/inventory includedVinyl flooring
• Laundry & utility: WasherDryerElectric water connectionElectric dryer connection

Listing history 50 events

1. 2026-09-24
   days on market $329,900 Active 116 DOM
2. 2026-09-23
   days on market $329,900 Active 115 DOM
3. 2026-09-22
   days on market $329,900 Active 114 DOM
4. 2026-09-21
   days on market $329,900 Active 113 DOM
5. 2026-09-20
   days on market $329,900 Active 112 DOM
6. 2026-09-19
   days on market $329,900 Active 111 DOM
7. 2026-09-18
   days on market $329,900 Active 110 DOM
8. 2026-09-17
   days on market $329,900 Active 109 DOM
9. 2026-09-16
   days on market $329,900 Active 108 DOM
10. 2026-09-15
    days on market $329,900 Active 107 DOM
11. 2026-09-14
    days on market $329,900 Active 106 DOM
12. 2026-09-13
    days on market $329,900 Active 105 DOM
13. 2026-09-12
    days on market $329,900 Active 104 DOM
14. 2026-09-11
    days on market $329,900 Active 103 DOM
15. 2026-09-05
    days on market $329,900 Active 97 DOM
16. 2026-09-04
    days on market $329,900 Active 96 DOM
17. 2026-09-02
    days on market $329,900 Active 94 DOM
18. 2026-08-31
    days on market $329,900 Active 92 DOM
19. 2026-08-30
    days on market $329,900 Active 91 DOM
20. 2026-08-29
    days on market $329,900 Active 90 DOM
21. 2026-08-28
    days on market $329,900 Active 89 DOM
22. 2026-08-27
    days on market $329,900 Active 88 DOM
23. 2026-08-26
    days on market $329,900 Active 87 DOM
24. 2026-08-25
    days on market $329,900 Active 86 DOM
25. 2026-08-24
    days on market $329,900 Active 85 DOM
26. 2026-08-23
    days on market $329,900 Active 84 DOM
27. 2026-08-22
    days on market $329,900 Active 83 DOM
28. 2026-08-21
    days on market $329,900 Active 82 DOM
29. 2026-08-20
    days on market $329,900 Active 81 DOM
30. 2026-08-19
    days on market $329,900 Active 80 DOM
31. 2026-08-18
    days on market $329,900 Active 79 DOM
32. 2026-08-17
    days on market $329,900 Active 78 DOM
33. 2026-08-16
    days on market $329,900 Active 77 DOM
34. 2026-08-15
    days on market $329,900 Active 76 DOM
35. 2026-08-14
    days on market $329,900 Active 75 DOM
36. 2026-08-13
    days on market $329,900 Active 74 DOM
37. 2026-08-12
    days on market $329,900 Active 73 DOM
38. 2026-08-11
    days on market $329,900 Active 72 DOM
39. 2026-08-10
    days on market $329,900 Active 71 DOM
40. 2026-08-09
    days on market $329,900 Active 70 DOM
41. 2026-08-08
    days on market $329,900 Active 69 DOM
42. 2026-08-06
    days on market $329,900 Active 67 DOM
43. 2026-08-05
    days on market $329,900 Active 66 DOM
44. 2026-08-04
    days on market $329,900 Active 65 DOM
45. 2026-08-03
    days on market $329,900 Active 64 DOM
46. 2026-07-31
    days on market $329,900 Active 61 DOM
47. 2026-07-30
    pricedays on market $329,900 Active 59 DOM
48. 2026-07-28
    days on market $349,900 Active 58 DOM
49. 2026-07-26
    days on market $349,900 Active 56 DOM
50. 2026-07-24
    days on market $349,900 Active 54 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $43,161
• − Mortgage interest: −$18,480
• − Property taxes: −$4,948
• − Insurance: −$9,678
• − Repairs & maintenance: −$3,453
• − Management: −$3,453
• − Depreciation: −$9,597
• Taxable loss: −$6,447
• Est. tax savings @ 24.0%: +$1,547
• After-tax cash flow: $258/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 · 14 photos

Good 80/100 Cosmetic rehab Est. rehab $5,200–$15,600 screening

This beautifully updated beach house is in good condition with no visible repairs needed. It offers a spacious open floor plan, modern kitchen, and well-maintained bathrooms. The home's curb appeal and location make it an attractive investment.

Value-add opportunities

• Both Painting the exterior siding and updating the front door — Painting the exterior siding and updating the front door can enhance the curb appeal and increase both resale and rental value. ↑
• Resale Updating the kitchen backsplash — Updating the kitchen backsplash can add a modern touch and increase the resale value of the home. ↑
• Rental Upgrading the flooring in the bathrooms — Upgrading the flooring in the bathrooms can improve the rental experience and increase rental value. ↑

ⓘ 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.

F Composite school gradezoned avg 46/100

Zoned Schools

Elementary Parker El F TX #1,995/4,322 Nat'l #23,081/41,679 Middle Austin Middle A TX #35/1,662 Nat'l #537/14,009 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%
• Common ancestry: Lithuanian 6% Romanian 3% Iranian 3%
• Foreign-born: 13% · Canada
• 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

• Other: Furnished
• HOA & community: Private trash pickup

Exterior

• Parking: Detached garage (1 car)
• Utilities: Cable TV availableCommercial water on siteElectric on siteSeptic on siteCommercial sewer on sitePrivate trash pickup on site
• Home design: Single-story home
• Construction: Pilings foundationComposition shingle roof
• Exterior features: DeckCleared lotOther view (see remarks)

Interior

• Kitchen: Range/CooktopRefrigeratorMicrowaveDishwasher
• Flooring: Vinyl
• Bathrooms: Has master bath
• Heating & cooling: Central electric heatingCentral electric cooling
• Interior features: Furniture remains/inventory includedVinyl flooring
• Laundry & utility: WasherDryerElectric water connectionElectric dryer connection

Price history

1 event — show timeline

• 2026-05-31 Listed $349,900 Galveston MLS