1128 Poseidon Dr · Portland, TX 78374

$254,499

4 bd · 2.0 ba · 1,667 sqft · SingleFamily · 217 Days on market

Built 2024 Excellent condition 4,791 sqft lot $153/sqft · at area comps Est $245k · at est. ↓ 7% 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 +14.5/30.0
• ARV discount +5.8/15.0
• Condition / age +4.8/5.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

Key facts

• Intimate dining area
• Walk-in closet
• Single-story design

Tags

• SINGLE-STORY DESIGN
• PENINSULA-STYLE KITCHEN
• INTIMATE DINING AREA
• OWNER'S SUITE
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $254k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $56 ($672/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (9.7% below list).
• Recommended offer: $224k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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).
• This rent runs 33% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 217 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $223,959 (12.0% below list)

Questions for the listing agent

1. It's been on market 217 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.90% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 9.2

CMA / ARV

• ARV (median comp): $245,141
• List price: $254,499
• Delta: 3.82%
• 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
1118 Demeter Dr	0.10mi	4/2.0	1,668 (+0%)	3mo	$262,000	$157	93
2131 Artemis Dr	0.19mi	3/2.0 (-1)	1,634 (-2%)	1mo	$271,999	$166	82
2137 Artemis Dr	0.15mi	3/2.0 (-1)	1,634 (-2%)	4mo	$300,999	$184	82
2107 Fury	0.32mi	4/2.0	1,746 (+5%)	2mo	$324,990	$186	75
1111 Poseidon Dr	0.06mi	3/2.0 (-1)	1,474 (-12%)	1mo	$236,999	$161	72
2103 Fury	0.35mi	3/2.0 (-1)	1,595 (-4%)	2mo	$319,990	$201	70
1815 Clapper Rail Dr	0.66mi	3/2.0 (-1)	1,795 (+8%)	3mo	$384,900	$214	48
1812 White Ibis Dr	0.67mi	3/2.0 (-1)	1,817 (+9%)	2mo	$379,900	$209	47
1818 Spoonbill Dr	0.64mi	3/2.0 (-1)	1,817 (+9%)	4mo	$380,000	$209	46
1814 White Ibis Dr	0.68mi	4/3.0	1,817 (+9%)	5mo	$384,900	$212	45
2007 Cottonwood Dr	0.73mi	4/3.5	1,787 (+7%)	5mo	$271,000	$152	44
1816 Clapper Rail Dr	0.66mi	3/2.0 (-1)	1,896 (+14%)	1mo	$399,900	$211	41

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: -18.2%
• Equity multiple: 0.38×
• Total profit: $-44,373
• Equity at exit: $37,947

10-year hold

• IRR: -17.8%
• Equity multiple: 0.16×
• Total profit: $-59,925
• Equity at exit: $22,004

Cash invested: $71,260 (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: 9.2×

Monthly cashflow live

• Estimated rent: $2,297 high
• Mortgage (P&I): −$1,335
• Tax est. 1.5%: −$318 /mo · $3,817/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $56

Break-even live

Break-even rent $2,226

Max offer price $254,499

Occupancy floor 93%

Sensitivity live

Price	-10% $232	-5% $144	+0% $56	+5% $-32	+10% $-120
Rent	-10% $-126	-5% $-35	+0% $56	+5% $147	+10% $237
Rate	-1.0pp $184	-0.5pp $121	base $56	+0.5pp $-10	+1.0pp $-77

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: $63,625
• Closing costs: $7,635
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	0.06mi
2012 Cottonwood Dr Portland, TX	4.0	2.0	1619	$2,350	$1.45	23d	1	0.72mi
2112 Westwood Dr Portland, TX	4.0	3.5	1863	$2,350	$1.26	15d	1	0.74mi
6736 Buddy Ganem Dr Portland, TX	3.0	2.0	1216	$1,595	$1.31	23d	1	0.80mi
1801 Atascosa Dr Portland, TX	3.0	2.0	1594	$1,600	$1.00	15d	1	1.04mi
1601 Moore Ave Portland, TX	2.0–3.0	2.0–2.5	1295	$1,899	$1.47	15d	18	1.04mi
1719 Austin St Portland, TX	3.0	1.5	1127	$1,550	$1.38	46d	1	1.27mi
1506 Briar St Portland, TX	3.0	2.0	1803	$2,300	$1.28	45d	1	1.29mi
2201 Timberline Dr Unit Na Portland, TX	4.0	2.0	1484	$2,200	$1.48	15d	1	1.49mi

Listing history 27 events

1. 2026-06-21
   days on market $254,499 Active 217 DOM
2. 2026-06-18
   days on market $254,499 Active 214 DOM
3. 2026-06-17
   days on market $254,499 Active 213 DOM
4. 2026-06-16
   days on market $254,499 Active 212 DOM
5. 2026-06-15
   days on market $254,499 Active 211 DOM
6. 2026-06-14
   days on market $254,499 Active 209 DOM
7. 2026-06-13
   days on market $254,499 Active 208 DOM
8. 2026-06-10
   days on market $254,499 Active 206 DOM
9. 2026-06-09
   days on market $254,499 Active 205 DOM
10. 2026-06-08
    days on market $254,499 Active 204 DOM
11. 2026-06-07
    days on market $254,499 Active 203 DOM
12. 2026-06-03
    days on market $254,499 Active 199 DOM
13. 2026-06-02
    days on market $254,499 Active 198 DOM
14. 2026-06-01
    days on market $254,499 Active 197 DOM
15. 2026-05-31
    statusdays on market $254,499 Active 196 DOM
16. 2026-05-30
    days on market $254,499 Price Change 195 DOM
17. 2026-05-16
    price $251,499 526-char remark

    Show marketing remark (526 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

18. 2026-05-15
    status Back on Market 526-char remark

    Show marketing remark (526 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

19. 2026-05-06
    status Pending 526-char remark

    Show marketing remark (526 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

20. 2026-04-29
    price $259,999 526-char remark

    Show marketing remark (526 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

21. 2026-04-15
    price $279,999 526-char remark

    Show marketing remark (526 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

22. 2026-02-27
    price $283,999 526-char remark

    Show marketing remark (526 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

23. 2026-02-24
    price $282,999 526-char remark

    Show marketing remark (526 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

24. 2026-02-10
    price $280,999 526-char remark

    Show marketing remark (526 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

25. 2026-01-27
    price $279,999 526-char remark

    Show marketing remark (526 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

26. 2026-01-23
    price $278,999 526-char remark

    Show marketing remark (526 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

27. 2025-11-07
    listed $269,999 New 526-char remark

    Show marketing remark (526 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Prices and features may vary and are subject to change. 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: $27,566
• − Mortgage interest: −$14,256
• − Property taxes: −$3,817
• − Insurance: −$1,272
• − Repairs & maintenance: −$2,205
• − Management: −$2,205
• − Depreciation: −$7,404
• Taxable loss: −$3,594
• Est. tax savings @ 24.0%: +$863
• After-tax cash flow: $1,534/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 95/100 None rehab

This single-story home is in excellent condition with modern finishes and a well-maintained exterior. It offers a spacious layout with a modern kitchen and two bathrooms. The property is move-in ready and has the potential for further value increases through minor updates.

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 make the kitchen more functional and attractive to potential buyers/tenants.

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 make the kitchen more functional and attractive to potential buyers/tenants. ↑

ⓘ 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

-6.9% since first listed

11 events — show timeline

• 2026-05-16 Price Changed $251,499 LERA
• 2026-05-15 Relisted — LERA
• 2026-05-06 Pending — LERA
• 2026-04-29 Price Changed $259,999 LERA
• 2026-04-15 Price Changed $279,999 LERA
• 2026-02-27 Price Changed $283,999 LERA
• 2026-02-24 Price Changed $282,999 LERA
• 2026-02-10 Price Changed $280,999 LERA
• 2026-01-27 Price Changed $279,999 LERA
• 2026-01-23 Price Changed $278,999 LERA
• 2025-11-07 Listed $269,999 LERA