981 26 Gateway · Bolivar Peninsula, TX 77650

$329,900

2 bd · 2.0 ba · 1,040 sqft · SingleFamily · 161 Days on market

Built 2005 Good condition 6,750 sqft lot Garage $317/sqft · 10% below area Est $368k · 10% 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 +30.0/30.0
• ARV discount +12.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 $953 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $330k).
• Recommended offer: $290k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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; 2 comparable units currently listed for rent nearby; 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).
• At $4,939/mo this rent would consume 83% 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $92k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($290k) 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 $290,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.50% ✓
• Cap rate: 12.19%
• Cash-on-cash: 21.07%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (median comp): $368,213
• List price: $329,900
• Delta: -10.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 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%)	2mo	$339,000	$316	84
979 Palmridge Dr	0.41mi	3/2.0 (+1)	1,110 (+7%)	3mo	$365,000	$329	62
978 Nassau Dr	0.18mi	3/2.5 (+1)	960 (-8%)	12mo	$249,900	$260	61
2917 Tropicana Ct	0.28mi	3/2.0 (+1)	1,116 (+7%)	11mo	$475,000	$426	61
3271 Hidden Gold	0.63mi	3/2.0 (+1)	1,040 (0%)	10mo	$325,900	$313	57
978 Biscayne Dr	0.23mi	3/1.5 (+1)	1,080 (+4%)	23mo	$315,000	$292	57
965 Mary Lynn	0.69mi	3/2.0 (+1)	1,036 (-0%)	13mo	$379,000	$366	51
3259 Pirates Cv	0.61mi	2/1.0	957 (-8%)	4mo	$235,000	$246	51
3287 Hidden Gold	0.67mi	3/2.0 (+1)	1,178 (+13%)	11mo	$349,900	$297	33
971 Sand Dune Dr	0.59mi	2/1.5	896 (-14%)	20mo	$298,000	$333	31
2773 E Lazy Ln E	0.56mi	3/2.0 (+1)	1,188 (+14%)	20mo	$359,900	$303	28

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: 2.2%
• Equity multiple: 1.08×
• Total profit: $7,713
• Equity at exit: $49,189

10-year hold

• IRR: 11.9%
• Equity multiple: 1.94×
• Total profit: $86,832
• 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: 31 active · 9 under contract
• Months of supply: 37.2 mo (3%/mo absorbed)
• Median asking: $399,000 ($344/sqft)
• Median days on market: 178 d
• This list price: 6% of active listings are priced below it
• ARV vs active asking: +2.8% 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: 5.6×

Monthly cashflow live

• Estimated rent: $4,939 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: −$1,037
• Net cashflow: $953

Break-even live

Break-even rent $3,733

Max offer price $329,900

Occupancy floor 76%

Sensitivity live

Price	-10% $1,181	-5% $1,067	+0% $953	+5% $839	+10% $725
Rent	-10% $563	-5% $758	+0% $953	+5% $1,148	+10% $1,343
Rate	-1.0pp $1,119	-0.5pp $1,037	base $953	+0.5pp $867	+1.0pp $780

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	$5,483	$3.89	0d	1	0.03mi
3229 Castle Dr Unit 1353849P Crystal Beach, TX	3.0	2.0	1420	$1,990	$1.40	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. 2026-11-08
   days on market $329,900 Active 161 DOM
2. 2026-11-07
   days on market $329,900 Active 160 DOM
3. 2026-11-06
   days on market $329,900 Active 159 DOM
4. 2026-11-05
   days on market $329,900 Active 158 DOM
5. 2026-11-04
   days on market $329,900 Active 157 DOM
6. 2026-11-02
   days on market $329,900 Active 155 DOM
7. 2026-11-01
   days on market $329,900 Active 154 DOM
8. 2026-10-31
   days on market $329,900 Active 153 DOM
9. 2026-10-30
   days on market $329,900 Active 152 DOM
10. 2026-10-29
    days on market $329,900 Active 151 DOM
11. 2026-10-28
    days on market $329,900 Active 150 DOM
12. 2026-10-27
    days on market $329,900 Active 149 DOM
13. 2026-10-26
    days on market $329,900 Active 148 DOM
14. 2026-10-25
    days on market $329,900 Active 147 DOM
15. 2026-10-24
    days on market $329,900 Active 146 DOM
16. 2026-10-23
    days on market $329,900 Active 145 DOM
17. 2026-10-22
    days on market $329,900 Active 144 DOM
18. 2026-10-21
    days on market $329,900 Active 143 DOM
19. 2026-10-20
    days on market $329,900 Active 142 DOM
20. 2026-10-19
    days on market $329,900 Active 141 DOM
21. 2026-10-18
    days on market $329,900 Active 140 DOM
22. 2026-10-17
    days on market $329,900 Active 139 DOM
23. 2026-10-16
    days on market $329,900 Active 138 DOM
24. 2026-10-15
    days on market $329,900 Active 137 DOM
25. 2026-10-14
    days on market $329,900 Active 136 DOM
26. 2026-10-13
    days on market $329,900 Active 135 DOM
27. 2026-10-12
    days on market $329,900 Active 134 DOM
28. 2026-10-11
    days on market $329,900 Active 133 DOM
29. 2026-10-10
    days on market $329,900 Active 132 DOM
30. 2026-10-09
    days on market $329,900 Active 131 DOM
31. 2026-10-08
    days on market $329,900 Active 130 DOM
32. 2026-10-07
    days on market $329,900 Active 129 DOM
33. 2026-10-06
    days on market $329,900 Active 128 DOM
34. 2026-10-05
    days on market $329,900 Active 127 DOM
35. 2026-10-04
    days on market $329,900 Active 126 DOM
36. 2026-10-04
    days on market $329,900 Active 125 DOM
37. 2026-10-02
    days on market $329,900 Active 124 DOM
38. 2026-10-01
    days on market $329,900 Active 123 DOM
39. 2026-09-30
    days on market $329,900 Active 122 DOM
40. 2026-09-29
    days on market $329,900 Active 121 DOM
41. 2026-09-28
    days on market $329,900 Active 120 DOM
42. 2026-09-27
    days on market $329,900 Active 119 DOM
43. 2026-09-26
    days on market $329,900 Active 118 DOM
44. 2026-09-25
    days on market $329,900 Active 117 DOM
45. 2026-09-24
    days on market $329,900 Active 116 DOM
46. 2026-09-23
    days on market $329,900 Active 115 DOM
47. 2026-09-22
    days on market $329,900 Active 114 DOM
48. 2026-09-21
    days on market $329,900 Active 113 DOM
49. 2026-09-20
    days on market $329,900 Active 112 DOM
50. 2026-09-19
    days on market $329,900 Active 111 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: $59,266
• − Mortgage interest: −$18,480
• − Property taxes: −$4,948
• − Insurance: −$9,678
• − Repairs & maintenance: −$4,741
• − Management: −$4,741
• − Depreciation: −$9,597
• Taxable income: $7,081
• Est. tax owed @ 24.0%: −$1,699
• After-tax cash flow: $9,734/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%
• 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