1107 Poseidon Dr · Portland, TX 78374

$242,499

3 bd · 2.0 ba · 1,474 sqft · SingleFamily · 85 Days on market

Built 2026 Excellent condition 4,791 sqft lot $165/sqft · at area comps Est $247k · at est. ↓ 9% since listing

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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).

• Cash flow +12.0/30.0
• ARV discount +8.3/15.0
• Condition / age +5.0/5.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion May 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• Walk-in closet
• Open floorplan
• Secondary bedrooms

Tags

• OPEN FLOORPLAN
• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• SECONDARY BEDROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $242k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-56 ($-673/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (15.4% below list).
• Recommended offer: $205k (15.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.2% in Portland — 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 80/100 on livability (#36 in TX, #1,740 nationally) — a professional / high-income tenant draw. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Gregory-Portland ISD (suburban): math 41% / reading 42% proficiency, ranked #314 of 826 in TX (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Andrews El (math 35% / reading 45%, grade F, #1,514 of 4,322 statewide, top 36%, 636 students, 64% FRL); Gregory-Portland Middle (math 43% / reading 39%, grade F, #613 of 1,662 statewide, top 38%, 1,124 students, 48% FRL); Gregory-Portland H S (math 28% / reading 50%, grade F, #859 of 1,632 statewide, top 53%, 1,464 students, 45% FRL).
• Market conditions: Rents soft (-1.8%/yr); 307 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 344 units permitted in San Patricio County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• San Patricio County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($228k) is reasonable based on typical stale-listing flexibility.

Recommended offer $205,038 (15.4% 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 85 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.85% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• GRM: 9.9

CMA / ARV

• ARV (median comp): $247,107
• List price: $242,499
• Delta: -1.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Poseidon Dr	0.02mi	3/2.0	1,474 (0%)	1mo	$236,999	$161	98
1309 Hera Dr	0.19mi	3/2.0	1,474 (0%)	8mo	$279,999	$190	85
2131 Artemis Dr	0.11mi	3/2.0	1,634 (+11%)	1mo	$271,999	$166	76
2137 Artemis Dr	0.08mi	3/2.0	1,634 (+11%)	4mo	$300,999	$184	75
1109 Poseidon Dr	0.01mi	3/2.0	1,260 (-14%)	1mo	$224,999	$179	75
1103 Poseidon Dr	0.03mi	3/2.0	1,260 (-14%)	1mo	$233,999	$186	74
2103 Fury	0.28mi	3/2.0	1,595 (+8%)	2mo	$319,990	$201	72
1119 Poseidon Dr	0.06mi	3/2.0	1,260 (-14%)	2mo	$239,999	$190	72
1118 Demeter Dr	0.14mi	4/2.0 (+1)	1,668 (+13%)	3mo	$262,000	$157	64
1303 Hera Dr	0.19mi	4/2.0 (+1)	1,667 (+13%)	7mo	$266,999	$160	58
1307 Hera Dr	0.19mi	4/2.0 (+1)	1,667 (+13%)	8mo	$248,999	$149	58
1137 Athena Dr	0.18mi	4/2.0 (+1)	1,667 (+13%)	9mo	$240,999	$145	58

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.3%
• Equity multiple: 0.28×
• Total profit: $-48,843
• Equity at exit: $36,157

10-year hold

• IRR: -24.1%
• Equity multiple: -0.03×
• Total profit: $-70,225
• Equity at exit: $20,967

Cash invested: $67,900 (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 78374

• Rents YoY: -1.8%
• Active inventory: 307
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,050 high
• Mortgage (P&I): −$1,272
• Tax est. 1.5%: −$303 /mo · $3,637/yr
• Insurance: −$101
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $-56

Break-even live

Break-even rent $2,121

Max offer price $234,388

Occupancy floor 98%

Sensitivity live

Price	-10% $112	-5% $28	+0% $-56	+5% $-140	+10% $-224
Rent	-10% $-218	-5% $-137	+0% $-56	+5% $25	+10% $106
Rate	-1.0pp $66	-0.5pp $6	base $-56	+0.5pp $-119	+1.0pp $-183

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: $60,625
• Closing costs: $7,275
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1203 Athena Dr Portland, TX	3.0	2.0	1535	$2,400	$1.56	15d	1	0.07mi
2012 Cottonwood Dr Portland, TX	4.0	2.0	1619	$2,350	$1.45	23d	1	0.64mi
2112 Westwood Dr Portland, TX	4.0	3.5	1863	$2,350	$1.26	15d	1	0.67mi
6736 Buddy Ganem Dr Portland, TX	3.0	2.0	1216	$1,595	$1.31	23d	1	0.77mi
1801 Atascosa Dr Portland, TX	3.0	2.0	1594	$1,600	$1.00	15d	1	0.95mi
1601 Moore Ave Portland, TX	2.0–3.0	2.0–2.5	1295	$1,899	$1.47	15d	18	0.98mi
201 Walker Ave Portland, TX	2.0	1.5	1195	$1,350	$1.13	15d	1	1.10mi
1719 Austin St Portland, TX	3.0	1.5	1127	$1,550	$1.38	46d	1	1.18mi
1506 Briar St Portland, TX	3.0	2.0	1803	$2,300	$1.28	45d	1	1.23mi
1461 Moore Ave Portland, TX	2.0	2.5	1313	$1,750	$1.33	15d	1	1.33mi
1404 Moore Ave Portland, TX	1.0–2.0	1.0	768	$1,400	$1.82	15d	10	1.33mi
1400 Moore Ave Portland, TX	1.0–2.0	1.0–2.0	768	$1,160	$1.51	45d	1	1.34mi
102 N Commonsway Dr Unit C Portland, TX	2.0	1.0	1008	$1,000	$0.99	45d	1	1.37mi
2201 Timberline Dr Unit Na Portland, TX	4.0	2.0	1484	$2,200	$1.48	15d	1	1.40mi
101 S Commonsway Dr Portland, TX	2.0	1.0	950	$1,050	$1.11	45d	1	1.43mi
101 S Commonsway Dr Unit 103C Portland, TX	2.0	1.5	950	$1,050	$1.11	45d	1	1.43mi
1028 Starlite Dr Portland, TX	3.0	1.5	984	$1,450	$1.47	23d	1	1.48mi

Listing history 7 events

1. 2026-05-13
   status Pending 526-char remark

   Show marketing remark (526 chars)

   The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion May 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

2. 2026-05-06
   price $242,499 526-char remark

   Show marketing remark (526 chars)

   The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion May 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

3. 2026-05-05
   price $248,499 526-char remark

   Show marketing remark (526 chars)

   The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion May 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

4. 2026-04-15
   price $267,999 526-char remark

   Show marketing remark (526 chars)

   The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion May 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

5. 2026-02-27
   price $271,999 526-char remark

   Show marketing remark (526 chars)

   The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion May 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

6. 2026-02-24
   price $270,999 526-char remark

   Show marketing remark (526 chars)

   The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion May 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

7. 2026-02-17
   listed $266,999 New 526-char remark

   Show marketing remark (526 chars)

   The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion May 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

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

Taxation est. · year 1

• Rental income: $24,605
• − Mortgage interest: −$13,584
• − Property taxes: −$3,637
• − Insurance: −$1,212
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − Depreciation: −$7,055
• Taxable loss: −$4,820
• Est. tax savings @ 24.0%: +$1,157
• After-tax cash flow: $484/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 · 12 photos

Excellent 100/100 None rehab

This single-level home showcases a spacious open floorplan with modern finishes and a clean, well-maintained appearance. It is move-in ready and ready for minor updates to enhance its curb appeal and functionality.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value.
• Both Adding smart home features — Smart home features can increase property value and attract tech-savvy buyers/tenants.
• Both Upgrading the kitchen appliances — Modern appliances can improve the functionality and appeal of the kitchen.
• Both Upgrading the bathroom fixtures — Upgraded fixtures can enhance the functionality and appeal of the bathroom.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑
• Both Adding smart home features — Smart home features can increase property value and attract tech-savvy buyers/tenants. ↑
• Both Upgrading the kitchen appliances — Modern appliances can improve the functionality and appeal of the kitchen. ↑
• Both Upgrading the bathroom fixtures — Upgraded fixtures can enhance the functionality and appeal of the bathroom. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Gregory-Portland ISD
• NCES district ID: 4821780
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 42% ▼ -9.00%
• Median HH income: $59,135
• Composite: 36.62/100
• National rank: #4622
• State rank: #314 of 826 in TX

Livability — Portland

• Score: 80/100
• State rank: #36
• US rank: #1740

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portland, TX
• County: San Patricio County · 31,224 people
• City population: 20,408
• Metro: Corpus Christi, TX
• Population (ZIP): 20,408
• Household income: $83,504
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 523.0

Population outlook (San Patricio County) Hauer SSP2

• Today (2025): 75,538 people
• By 2030: 79,575 · +5.3%
• By 2040: 87,670 · +16.1%
• By 2050: 96,107 · +27.2%
• By 2075: 117,984 · +56.2%
• By 2100: 130,010 · +72.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 51% Hispanic / Latino 41% Two or more races 19% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 35% Cuban 2%
• Common ancestry: Lithuanian 2% Slovak 2% Estonian 1%
• Foreign-born: 7% · Canada
• Languages at home: 79% English-only · Spanish 18% Other Indo-European 2% Tagalog/Filipino 0%

Political lean MEDSL · San Patricio

• 2024 margin: Solid R (+36.4) · D 31.4% · R 67.8%
• 2008→2024 swing: -19.8pp toward R · 2008: -16.6pp · 2024: -36.4pp
• All cycles: 2024: R+36.4 2020: R+29.1 2016: R+24.1 2012: R+20.6 2008: R+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -227.28%
• Current HPI: 166.5529
• Rent YoY: ▼ -1.84%
• Metro: Corpus Christi, TX
• 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

-9.2% since first listed

7 events — show timeline

• 2026-05-13 Pending — LERA
• 2026-05-06 Price Changed $242,499 LERA
• 2026-05-05 Price Changed $248,499 LERA
• 2026-04-15 Price Changed $267,999 LERA
• 2026-02-27 Price Changed $271,999 LERA
• 2026-02-24 Price Changed $270,999 LERA
• 2026-02-17 Listed $266,999 LERA