3346 Pirates Cv · Bolivar Peninsula, TX 77650

$398,000

3 bd · 2.0 ba · 1,288 sqft · SingleFamily public records · 142 Days on market

Built 2006 6,969 sqft lot $309/sqft · 17% below area Est $481k · 17% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +13.1/30.0
• DSCR +3.9/10.0
• 1% rule +3.4/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Appreciation +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to your coastal retreat in Lafitte’s Landing on Crystal Beach. This light and bright beach home offers three bedrooms, two bathrooms, and an inviting open floor plan designed for effortless coastal living. The island kitchen anchors the main living space, featuring ample counter space and a layout perfect for entertaining while staying connected with guests. Natural light fills the home, enhancing the airy coastal feel and creating a relaxed, welcoming atmosphere throughout. The primary suite provides a private retreat, while two additional bedrooms offer flexibility for guests, family, or a home office. Located just minutes from the beach, this home is ideal as a full-time residence, weekend getaway, or investment property. Enjoy the laid-back lifestyle, golf-cart-friendly community, and charm that make Crystal Beach such a sought-after destination.

Key facts

• Open floor plan
• Ample counter space
• Island kitchen

Tags

• OPEN FLOOR PLAN
• ISLAND KITCHEN
• AMPLE COUNTER SPACE
• NATURAL LIGHT
• PRIVATE RETREAT
• GOLF-CART-FRIENDLY COMMUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $398k.

Deal economics

• At list price, monthly cash flow is $-681 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $278k (30.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $334k (16.2% below list).
• Recommended offer: $278k (30.2% below list) — sets the bar for cash-flow.
• Cap rate 6.3% 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: schools D+, amenities F, commute 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.
• Market conditions: 770 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 142 days — a 12% lower offer ($350k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $277,758 (30.2% 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 142 days. Have you received any prior offers? Is the seller open to a 30% 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 9.9

CMA / ARV

• ARV (median comp): $480,845
• List price: $398,000
• Delta: -17.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3415 Sand Dollar Dr	0.12mi	3/2.0	1,296 (+1%)	2mo	$329,000	$254	92
3287 Hidden Gold	0.21mi	3/2.0	1,178 (-8%)	6mo	$349,900	$297	71
3089 Patty	0.69mi	3/2.0	1,280 (-1%)	2mo	$359,000	$280	65
3450 Hannas Reef	0.18mi	3/2.0	1,408 (+9%)	14mo	$550,000	$391	64
3185 Sea Castle Dr	0.49mi	3/2.5	1,344 (+4%)	7mo	$280,000	$208	62
3096 Diane	0.67mi	3/2.0	1,320 (+2%)	22mo	$349,000	$264	47

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: -28.9%
• Equity multiple: 0.04×
• Total profit: $-107,447
• Equity at exit: $59,343

10-year hold

• IRR: -28.2%
• Equity multiple: -0.33×
• Total profit: $-147,769
• Equity at exit: $34,412

Cash invested: $111,440 (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 77650

• Home prices YoY: -1.9%
• Active inventory: 770
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $3,336 medium
• Mortgage (P&I): −$2,087
• Tax from tax record: −$394 /mo · $4,728/yr
• Insurance: −$166
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $-681

Break-even live

Break-even rent $4,197

Max offer price $277,758

Occupancy floor —

Sensitivity live

Price	-10% $-455	-5% $-568	+0% $-681	+5% $-793	+10% $-906
Rent	-10% $-944	-5% $-812	+0% $-681	+5% $-549	+10% $-417
Rate	-1.0pp $-480	-0.5pp $-579	base $-681	+0.5pp $-784	+1.0pp $-889

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: $99,500
• Closing costs: $11,940
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3229 Castle Dr Unit 1353849P Crystal Beach, TX	3.0	2.0	1420	$3,035	$2.14	5d	1	0.36mi
1714 Texas 87 Unit 1252629P Port Bolivar, TX	3.0	2.0	1345	$4,459	$3.32	5d	1	1.07mi
956 Biscayne Unit 1560830P Crystal Beach, TX	4.0	2.0	1528	$3,026	$1.98	1d	1	1.09mi

Listing history 32 events

1. 2026-06-18
   days on market $398,000 Active 142 DOM
2. 2026-06-17
   days on market $398,000 Active 141 DOM
3. 2026-06-16
   days on market $398,000 Active 140 DOM
4. 2026-06-15
   days on market $398,000 Active 139 DOM
5. 2026-06-13
   days on market $398,000 Active 137 DOM
6. 2026-06-09
   days on market $398,000 Active 133 DOM
7. 2026-06-08
   days on market $398,000 Active 132 DOM
8. 2026-06-07
   days on market $398,000 Active 131 DOM
9. 2026-06-04
   days on market $398,000 Active 128 DOM
10. 2026-06-03
    days on market $398,000 Active 127 DOM
11. 2026-06-02
    days on market $398,000 Active 126 DOM
12. 2026-06-01
    days on market $398,000 Active 125 DOM
13. 2026-05-31
    days on market $398,000 Active 124 DOM
14. 2026-01-27
    listed $398,000 Active 876-char remark

    Show marketing remark (876 chars)

    Welcome to your coastal retreat in Lafitte’s Landing on Crystal Beach. This light and bright beach home offers three bedrooms, two bathrooms, and an inviting open floor plan designed for effortless coastal living. The island kitchen anchors the main living space, featuring ample counter space and a layout perfect for entertaining while staying connected with guests. Natural light fills the home, enhancing the airy coastal feel and creating a relaxed, welcoming atmosphere throughout. The primary suite provides a private retreat, while two additional bedrooms offer flexibility for guests, family, or a home office. Located just minutes from the beach, this home is ideal as a full-time residence, weekend getaway, or investment property. Enjoy the laid-back lifestyle, golf-cart-friendly community, and charm that make Crystal Beach such a sought-after destination.

15. 2025-10-31
    historical
16. 2025-04-21
    listed $398,000 Active
17. 2025-04-21
    historical
18. 2024-04-21
    listed $435,000 Active
19. 2021-08-30
    soldstatus
20. 2021-08-20
    soldstatus Sold
21. 2021-07-11
    status Pending
22. 2021-06-30
    status Option Pending
23. 2021-06-25
    listed $392,840 Active
24. 2018-02-05
    soldstatus Sold
25. 2018-01-29
    soldstatus
26. 2017-12-27
    status Pending
27. 2017-12-20
    status Option Pending
28. 2017-09-08
    listed $245,000 Active
29. 2017-07-12
    historical
30. 2015-06-26
    listed $259,000 Active
31. 2007-03-27
    soldstatus
32. 2004-08-27
    soldstatus

ⓘ 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: $4,728 · $394/mo
• Projected year-2 tax: $7,283 · $607/mo
• Expected delta: +$2,556/yr (+$213/mo · 54.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $40,030
• − Mortgage interest: −$22,294
• − Property taxes: −$4,728
• − Insurance: −$10,018
• − Repairs & maintenance: −$3,202
• − Management: −$3,202
• − Depreciation: −$11,578
• Taxable loss: −$14,993
• Est. tax savings @ 24.0%: +$3,598
• After-tax cash flow: $-4,570/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.

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

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): 2,362

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 (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%

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

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

+53.7% since first listed

19 events — show timeline

• 2026-01-27 Listed $398,000 HARMLS
• 2025-10-31 Listing Removed — HARMLS
• 2025-04-21 Listing Removed — HARMLS
• 2025-04-21 Listed $398,000 HARMLS
• 2024-04-21 Listed $435,000 HARMLS
• 2021-08-30 Sold (Public Records) — Public Records
• 2021-08-20 Sold (MLS) — HARMLS
• 2021-07-11 Pending — HARMLS
• 2021-06-30 Pending — HARMLS
• 2021-06-25 Listed $392,840 HARMLS
• 2018-02-05 Sold (MLS) — HARMLS
• 2018-01-29 Sold (Public Records) — Public Records
• 2017-12-27 Pending — HARMLS
• 2017-12-20 Pending — HARMLS
• 2017-09-08 Listed $245,000 HARMLS
• 2017-07-12 Listing Removed — HARMLS
• 2015-06-26 Listed $259,000 HARMLS
• 2007-03-27 Sold (Public Records) — Public Records
• 2004-08-27 Sold (Public Records) — Public Records

Property tax history

+2.4%/yr

Latest (2025): $4,728 · -25.2% YoY. Source: county tax records.