989 Alberdie Dr · Bolivar Peninsula, TX 77650

$274,900

4 bd · 1.0 ba · 2,428 sqft · SingleFamily public records · 17 Days on market

Built 1965 Good condition 0.41 ac lot Garage $113/sqft · 59% below area

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Appreciation +2.7/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0

Listing remarks

HIGHEST AND BEST DUE 07/29/26 - 3:00. Come view this beautiful 4 bedroom 3 and a 1/2 bath!! Plenty of space for friends, or it can continue to be a top-dollar rental. This home offers plenty of outdoor living space and is minutes from the beach. Updated kitchen, bathrooms, exterior paint, and floors throughout the house are just a few of the many updates! After an enjoyable day at the beach, you can relax on your deck, watching the sunset! Take the ferry and enjoy all the Gulf Coast has to offer! Your dream home is waiting on YOU!

Key facts

• Updated floors
• Updated bathrooms
• Deck

Tags

• OUTDOOR LIVING SPACE
• UPDATED KITCHEN
• UPDATED BATHROOMS
• UPDATED EXTERIOR PAINT
• UPDATED FLOORS
• DECK

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $275k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $275k).
• Recommended offer: $271k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 2.0% 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: 881 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 $5,478/mo this rent would consume 92% 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 $8k 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 $77k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 10y 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 $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $270,776 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.99% ✓
• Cap rate: 16.07%
• Cash-on-cash: 34.93%
• DSCR: 2.55
• GRM: 4.2

CMA / ARV

• ARV (median comp): $670,394
• List price: $274,900
• Delta: -55.27%
• 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
2025 Vista Dr	0.29mi	4/3.0	2,184 (-10%)	1mo	$575,000	$263	61
834 Kahla Dr	0.61mi	4/3.5	2,550 (+5%)	5mo	$799,000	$313	49
2336 Martinique	0.73mi	4/3.0	2,390 (-2%)	12mo	$664,990	$278	45
2320 Trinidad Dr	0.69mi	4/4.0	2,348 (-3%)	11mo	$1,250,000	$532	41
lot 34 Martinique	0.74mi	4/3.0	2,390 (-2%)	23mo	$649,000	$272	36
1219 N Crystal Beach Rd	0.70mi	4/2.0	2,064 (-15%)	10mo	$709,000	$344	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: 22.6%
• Equity multiple: 1.93×
• Total profit: $71,439
• Equity at exit: $40,988

10-year hold

• IRR: 30.7%
• Equity multiple: 3.77×
• Total profit: $212,833
• Equity at exit: $23,768

Cash invested: $76,972 (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: 36 active · 4 under contract
• Months of supply: 54.0 mo (2%/mo absorbed)
• Median asking: $699,000 ($321/sqft)
• Median days on market: 152 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -13.9% 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: 881
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $5,478 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$531 /mo · $6,373/yr
• Insurance: −$115
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,150
• Net cashflow: $1,814

Break-even live

Break-even rent $3,182

Max offer price $274,900

Occupancy floor 62%

Sensitivity live

Price	-10% $1,969	-5% $1,892	+0% $1,814	+5% $1,736	+10% $1,658
Rent	-10% $1,381	-5% $1,597	+0% $1,814	+5% $2,030	+10% $2,247
Rate	-1.0pp $1,952	-0.5pp $1,884	base $1,814	+0.5pp $1,743	+1.0pp $1,670

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: $68,725
• Closing costs: $8,247
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
951 Gulf Shores Dr Unit 1223252P Crystal Beach, TX	3.0–6.0	2.0–5.0	2362	$5,478	$2.32	0d	2	0.34mi

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public waterSeptic tank
• Home design: Residential propertyBuilt in 1965Pillar/post/pier foundationComposition roof
• Construction: Cement siding
• Exterior features: Cleared lot

Interior

• Kitchen: Breakfast barKitchen open to family room
• Bedrooms: Primary bedroom (First floor) 16x15Bedroom (First floor) 14x11Bedroom (First floor) 12x12Bedroom (First floor) 12x11
• Bathrooms: 3 full bathrooms1 half bathroom
• Heating & cooling: Central heating (electric)Central air conditioning (electric)
• Interior features: Breakfast barJetted tubKitchen/family room comboSeparate showerCeiling fans

Listing history 50 events

1. 2026-08-06
   days on market $274,900 Active 17 DOM
2. 2026-08-05
   days on market $274,900 Active 16 DOM
3. 2026-08-04
   days on market $274,900 Active 15 DOM
4. 2026-08-03
   days on market $274,900 Active 14 DOM
5. 2026-07-31
   days on market $274,900 Active 11 DOM
6. 2026-07-30
   days on market $274,900 Active 9 DOM
7. 2026-07-28
   remarks 538-char remark
8. 2026-07-28
   days on market $274,900 Active 8 DOM
9. 2026-07-26
   days on market $274,900 Active 6 DOM
10. 2026-07-24
    days on market $274,900 Active 4 DOM
11. 2026-07-23
    days on market $274,900 Active 3 DOM
12. 2026-07-22
    days on market $274,900 Active 2 DOM
13. 2026-07-21
    days on marketlisting id $274,900 Active 1 DOM
14. 2026-07-06
    days on market $274,900 Active 25 DOM
15. 2026-07-05
    days on market $274,900 Active 24 DOM
16. 2026-07-03
    days on market $274,900 Active 23 DOM
17. 2026-07-02
    days on market $274,900 Active 22 DOM
18. 2026-07-01
    days on market $274,900 Active 21 DOM
19. 2026-06-30
    days on market $274,900 Active 20 DOM
20. 2026-06-29
    days on market $274,900 Active 19 DOM
21. 2026-06-28
    days on market $274,900 Active 18 DOM
22. 2026-06-27
    days on market $274,900 Active 17 DOM
23. 2026-06-26
    days on market $274,900 Active 16 DOM
24. 2026-06-24
    days on market $274,900 Active 14 DOM
25. 2026-06-22
    days on market $274,900 Active 12 DOM
26. 2026-06-21
    days on market $274,900 Active 11 DOM
27. 2026-06-18
    days on market $274,900 Active 8 DOM
28. 2026-06-17
    days on market $274,900 Active 7 DOM
29. 2026-06-16
    days on market $274,900 Active 6 DOM
30. 2026-06-15
    days on market $274,900 Active 5 DOM
31. 2026-06-13
    pricedays on marketlisting id $274,900 Active 3 DOM
32. 2026-06-04
    days on market $299,900 Active 177 DOM
33. 2026-06-03
    days on market $299,900 Active 176 DOM
34. 2026-06-02
    days on market $299,900 Active 175 DOM
35. 2026-06-01
    days on market $299,900 Active 174 DOM
36. 2026-05-31
    days on market $299,900 Active 173 DOM
37. 2026-04-22
    price $299,900 500-char remark
38. 2026-03-20
    price $324,900 500-char remark
39. 2026-02-18
    price $349,900 500-char remark
40. 2026-01-14
    price $374,900 500-char remark
41. 2025-12-09
    listed $399,900 Active 500-char remark
42. 2025-04-18
    historical
43. 2025-04-01
    price $474,900
44. 2025-03-12
    price $499,900
45. 2025-02-04
    price $514,900
46. 2025-01-27
    listed $524,900 Active
47. 2025-01-13
    historical
48. 2024-12-13
    price $524,900
49. 2024-10-31
    price $544,900
50. 2024-09-18
    price $559,900

ⓘ 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: $6,373 · $531/mo
• Projected year-2 tax: $6,373 · $531/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $65,736
• − Mortgage interest: −$15,399
• − Property taxes: −$6,373
• − Insurance: −$6,493
• − Repairs & maintenance: −$5,259
• − Management: −$5,259
• − Depreciation: −$7,997
• Taxable income: $18,956
• Est. tax owed @ 24.0%: −$4,550
• After-tax cash flow: $17,217/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 Cosmetic rehab Est. rehab $12,140–$36,420 screening

This home is in good condition with updated interiors and a well-maintained exterior. It offers a good balance of updates and maintenance, making it a solid investment for both resale and rental.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and protects the siding from weathering. ↑
• Both Landscaping and trimming the grass — Improves curb appeal and maintains a well-maintained appearance. ↑

ⓘ 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 26/100

Zoned Schools

Elementary Crenshaw El And Middle F TX #2,791/4,322 Nat'l #28,475/41,679 Middle Central Middle F TX #1,445/1,662 Nat'l #11,801/14,009 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

---

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

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public waterSeptic tank
• Home design: Residential propertyBuilt in 1965Pillar/post/pier foundationComposition roof
• Construction: Cement siding
• Exterior features: Cleared lot

Interior

• Kitchen: Breakfast barKitchen open to family room
• Bedrooms: Primary bedroom (First floor) 16x15Bedroom (First floor) 14x11Bedroom (First floor) 12x12Bedroom (First floor) 12x11
• Bathrooms: 3 full bathrooms1 half bathroom
• Heating & cooling: Central heating (electric)Central air conditioning (electric)
• Interior features: Breakfast barJetted tubKitchen/family room comboSeparate showerCeiling fans

Price history

+48.6% since first listed

46 events — show timeline

• 2026-07-20 Listed $274,900 HARMLS
• 2026-07-05 Listing Removed — HARMLS
• 2026-06-10 Listed $274,900 HARMLS
• 2026-06-05 Listing Removed — HARMLS
• 2026-04-22 Price Changed $299,900 HARMLS
• 2026-03-20 Price Changed $324,900 HARMLS
• 2026-02-18 Price Changed $349,900 HARMLS
• 2026-01-14 Price Changed $374,900 HARMLS
• 2025-12-09 Listed $399,900 HARMLS
• 2025-04-18 Listing Removed — HARMLS
• 2025-04-01 Price Changed $474,900 HARMLS
• 2025-03-12 Price Changed $499,900 HARMLS
• 2025-02-04 Price Changed $514,900 HARMLS
• 2025-01-27 Listed $524,900 HARMLS
• 2025-01-13 Listing Removed — HARMLS
• 2024-12-13 Price Changed $524,900 HARMLS
• 2024-10-31 Price Changed $544,900 HARMLS
• 2024-09-18 Price Changed $559,900 HARMLS
• 2024-07-26 Price Changed $579,900 HARMLS
• 2024-07-01 Price Changed $584,900 HARMLS
• 2024-06-13 Listed $599,900 HARMLS
• 2024-05-11 Listing Removed — HARMLS
• 2023-12-30 Listed $698,999 HARMLS
• 2023-12-05 Listing Removed — HARMLS
• 2023-09-04 Price Changed $699,999 HARMLS
• 2023-08-22 Relisted — HARMLS
• 2023-08-21 Price Changed $710,000 HARMLS
• 2023-08-21 Listing Removed — HARMLS
• 2023-08-16 Price Changed $715,000 HARMLS
• 2023-08-08 Relisted — HARMLS
• 2023-08-07 Listing Removed — HARMLS
• 2023-06-22 Listed $795,000 HARMLS
• 2022-01-18 Sold (Public Records) — Public Records
• 2022-01-14 Sold (MLS) — HARMLS
• 2021-12-21 Pending — HARMLS
• 2021-11-30 Pending — HARMLS
• 2021-11-19 Pending — HARMLS
• 2021-11-11 Listed $325,000 HARMLS
• 2020-07-17 Listing Removed — HARMLS
• 2020-06-23 Listed $260,000 HARMLS
• 2019-10-29 Listing Removed — HARMLS
• 2019-06-12 Listed $325,000 HARMLS
• 2017-08-07 Sold (MLS) — HARMLS
• 2017-07-23 Pending — HARMLS
• 2017-07-12 Pending — HARMLS
• 2016-12-23 Listed $185,000 HARMLS

Property tax history

+32.2%/yr

Latest (2025): $6,373 · -13.0% YoY. Source: county tax records.