1309 Athena Dr · Portland, TX 78374

$245,499

3 bd · 2.0 ba · 1,484 sqft · SingleFamily · 18 Days on market

Built 2026 Good condition Est $273k · 10% 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 +12.0/15.0
• Cash flow +11.5/30.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

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, which are comfortable spaces for household members and overnight guests.

Key facts

• Walk-in closet
• Open floorplan
• Secondary bedrooms

Tags

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

Property features AI

Finance

• Other: Address: 1309 Athena Dr, Portland TX 78374; Plan name: Newlin
• Financial info: List price $262,999; Inventory type: Spec
• HOA & community: HOA details not specified

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Security: Security features not specified
• Utilities: Utilities details not specified
• Home design: Spec new-construction home (Plan name: Newlin); Active listing
• Construction: Construction year not specified; Construction materials and foundation not specified; Roof details not specified
• Exterior features: Living area approximately 1484

Interior

• Kitchen: Included appliances not specified
• Bedrooms: 3 bedrooms
• Flooring: Flooring details not specified
• Bathrooms: 2 full bathrooms
• Heating & cooling: HVAC details not specified
• Interior features: Open living area
• Laundry & utility: Laundry location not specified

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-80 ($-961/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (16.7% below list).
• Recommended offer: $205k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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.
• Market conditions: Rents soft (-1.8%/yr); 302 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 18 days — a 2% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Recommended offer $204,622 (16.7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.83% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.40%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $273,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Poseidon Dr	0.07mi	3/2.0	1,474 (-1%)	1mo	$236,999	$161	95
1139 Athena Dr	0.17mi	3/2.0	1,474 (-1%)	10mo	$274,999	$187	82
1309 Hera Dr	0.22mi	3/2.0	1,474 (-1%)	8mo	$279,999	$190	82
2246 Medusa Dr	0.10mi	3/2.0	1,415 (-5%)	10mo	$309,685	$219	80
2131 Artemis Dr	0.08mi	3/2.0	1,634 (+10%)	1mo	$271,999	$166	78
2137 Artemis Dr	0.05mi	3/2.0	1,634 (+10%)	4mo	$300,999	$184	78
2103 Fury	0.23mi	3/2.0	1,595 (+8%)	2mo	$319,990	$201	76
1118 Demeter Dr	0.13mi	4/2.0 (+1)	1,668 (+12%)	3mo	$262,000	$157	66
2253 Medusa Dr	0.13mi	4/2.0 (+1)	1,665 (+12%)	9mo	$323,590	$194	61
1137 Athena Dr	0.18mi	4/2.0 (+1)	1,667 (+12%)	9mo	$240,999	$145	59
1303 Hera Dr	0.22mi	4/2.0 (+1)	1,667 (+12%)	7mo	$266,999	$160	58
1307 Hera Dr	0.22mi	4/2.0 (+1)	1,667 (+12%)	8mo	$248,999	$149	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: -22.0%
• Equity multiple: 0.26×
• Total profit: $-50,847
• Equity at exit: $36,605

10-year hold

• IRR: -25.7%
• Equity multiple: -0.07×
• Total profit: $-73,893
• Equity at exit: $21,226

Cash invested: $68,740 (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: 302
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,046 high
• Mortgage (P&I): −$1,287
• Tax est. 1.5%: −$307 /mo · $3,682/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $-80

Break-even live

Break-even rent $2,148

Max offer price $233,912

Occupancy floor 99%

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: $61,375
• Closing costs: $7,365
• 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	14d	1	0.10mi
2012 Cottonwood Dr Portland, TX	4.0	2.0	1619	$2,350	$1.45	21d	1	0.57mi
2112 Westwood Dr Portland, TX	4.0	3.5	1863	$2,350	$1.26	14d	1	0.60mi
6736 Buddy Ganem Dr Portland, TX	3.0	2.0	1216	$1,595	$1.31	21d	1	0.80mi
1801 Atascosa Dr Portland, TX	3.0	2.0	1594	$1,600	$1.00	14d	1	0.89mi
1601 Moore Ave Portland, TX	2.0–3.0	2.0–2.5	1295	$1,899	$1.47	14d	18	0.91mi
201 Walker Ave Portland, TX	2.0	1.5	1195	$1,350	$1.13	14d	1	1.04mi
1719 Austin St Portland, TX	3.0	1.5	1127	$1,550	$1.38	44d	1	1.13mi
1506 Briar St Portland, TX	3.0	2.0	1803	$2,300	$1.28	44d	1	1.16mi
1461 Moore Ave Portland, TX	2.0	2.5	1313	$1,750	$1.33	14d	1	1.26mi
1404 Moore Ave Portland, TX	1.0–2.0	1.0	768	$1,400	$1.82	14d	10	1.26mi
1400 Moore Ave Portland, TX	1.0–2.0	1.0–2.0	768	$1,160	$1.51	44d	1	1.27mi
102 N Commonsway Dr Unit C Portland, TX	2.0	1.0	1008	$1,000	$0.99	44d	1	1.31mi
2201 Timberline Dr Unit Na Portland, TX	4.0	2.0	1484	$2,200	$1.48	14d	1	1.35mi
101 S Commonsway Dr Portland, TX	2.0	1.0	950	$1,050	$1.11	44d	1	1.37mi
101 S Commonsway Dr Unit 103C Portland, TX	2.0	1.5	950	$1,050	$1.11	44d	1	1.37mi
1028 Starlite Dr Portland, TX	3.0	1.5	984	$1,450	$1.47	21d	1	1.41mi

Listing history 16 events

1. 2026-06-18
   days on market $245,499 Active 18 DOM
2. 2026-06-17
   days on market $245,499 Active 17 DOM
3. 2026-06-16
   days on market $245,499 Active 16 DOM
4. 2026-06-15
   price $245,499 Active 15 DOM
5. 2026-06-15
   days on market $244,749 Active 15 DOM
6. 2026-06-14
   days on market $244,749 Active 13 DOM
7. 2026-06-13
   pricedays on market $244,749 Active 12 DOM
8. 2026-06-10
   days on market $243,999 Active 10 DOM
9. 2026-06-09
   days on market $243,999 Active 9 DOM
10. 2026-06-08
    pricedays on market $243,999 Active 8 DOM
11. 2026-06-07
    days on market $243,499 Active 7 DOM
12. 2026-06-03
    days on market $243,499 Active 3 DOM
13. 2026-06-03
    price $243,499 Active 2 DOM
14. 2026-06-02
    pricedays on market $242,999 Active 2 DOM
15. 2026-05-31
    remarks 399-char remark
16. 2026-05-31
    listed $262,999 Active 1 DOM

ⓘ 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: $24,555
• − Mortgage interest: −$13,752
• − Property taxes: −$3,682
• − Insurance: −$1,227
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − Depreciation: −$7,142
• Taxable loss: −$5,178
• Est. tax savings @ 24.0%: +$1,243
• After-tax cash flow: $282/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

Good 80/100 Cosmetic rehab

This single-level home features a spacious open floorplan with modern finishes and a good condition. It is move-in ready with minor cosmetic updates needed for optimal resale and rental value.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal
• Rental Clean gutters — Keeps home in good condition

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal ↑
• Rental Clean gutters — Keeps home in good condition ↑

ⓘ 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