1305 Athena Dr · Portland, TX 78374

$235,499

3 bd · 2.0 ba · 1,269 sqft · SingleFamily · 2 Days on market

Built 2026 Good condition Est $264k · 11% 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 +12.4/15.0
• Cash flow +12.3/30.0
• Livability +4.0/5.0
• Condition / age +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

This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer.

Key facts

• Private corner
• Adjoining bathroom
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• MULTI-FUNCTIONAL KITCHEN
• PRIVATE CORNER
• ADJOINING BATHROOM

Property features AI

Finance

• Financial info: List price $235,499

Exterior

• Parking: 2 garage spaces (2 total parking spaces)
• Home design: Single-family home, Beckman plan; Active listing
• Construction: New construction (spec); Plan name: Beckman; Listing last modified Jun 16, 2026
• Exterior features: Address: 1305 Athena Dr, Portland, TX 78374

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Spec new construction (Plan: Beckman); Living area approximately 1,269

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-44 ($-532/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (14.9% below list).
• Recommended offer: $200k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $200,397 (14.9% 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: 0.85% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.81%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $263,952
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1103 Poseidon Dr	0.04mi	3/2.0	1,260 (-1%)	1mo	$233,999	$186	96
1109 Poseidon Dr	0.05mi	3/2.0	1,260 (-1%)	1mo	$224,999	$179	96
1119 Poseidon Dr	0.08mi	3/2.0	1,260 (-1%)	2mo	$239,999	$190	93
1104 Demeter Dr	0.16mi	3/2.0	1,226 (-3%)	2mo	$258,000	$210	85
1301 Hera Dr	0.22mi	3/2.0	1,260 (-1%)	9mo	$267,999	$213	81
1305 Hera Dr	0.22mi	3/2.0	1,260 (-1%)	9mo	$237,199	$188	81
1113 Athena Dr	0.22mi	3/2.0	1,260 (-1%)	10mo	$217,749	$173	81
1112 Athena Dr	0.21mi	3/2.0	1,260 (-1%)	11mo	$261,999	$208	80
1135 Athena Dr	0.20mi	3/2.0	1,260 (-1%)	12mo	$264,999	$210	80
1107 Athena Dr	0.23mi	3/2.0	1,260 (-1%)	11mo	$267,999	$213	79
1119 Athena Dr	0.21mi	3/2.0	1,260 (-1%)	12mo	$221,385	$176	79
2246 Medusa Dr	0.12mi	3/2.0	1,415 (+12%)	10mo	$309,685	$219	67

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: -21.0%
• Equity multiple: 0.29×
• Total profit: $-46,828
• Equity at exit: $35,114

10-year hold

• IRR: -23.5%
• Equity multiple: -0.02×
• Total profit: $-66,987
• Equity at exit: $20,362

Cash invested: $65,940 (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: 9.8×

Monthly cashflow live

• Estimated rent: $2,004 high
• Mortgage (P&I): −$1,235
• Tax est. 1.5%: −$294 /mo · $3,532/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $-44

Break-even live

Break-even rent $2,060

Max offer price $229,082

Occupancy floor 97%

Sensitivity live

Price	-10% $118	-5% $37	+0% $-44	+5% $-126	+10% $-207
Rent	-10% $-203	-5% $-124	+0% $-44	+5% $35	+10% $114
Rate	-1.0pp $74	-0.5pp $16	base $-44	+0.5pp $-105	+1.0pp $-167

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: $58,875
• Closing costs: $7,065
• 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	0.07mi
2012 Cottonwood Dr Portland, TX	4.0	2.0	1619	$2,350	$1.45	22d	1	0.64mi
2112 Westwood Dr Portland, TX	4.0	3.5	1863	$2,350	$1.26	14d	1	0.67mi
6736 Buddy Ganem Dr Portland, TX	3.0	2.0	1216	$1,595	$1.31	22d	1	0.77mi
1801 Atascosa Dr Portland, TX	3.0	2.0	1594	$1,600	$1.00	14d	1	0.95mi
1601 Moore Ave Portland, TX	2.0–3.0	2.0–2.5	1295	$1,899	$1.47	14d	18	0.98mi
201 Walker Ave Portland, TX	2.0	1.5	1195	$1,350	$1.13	14d	1	1.10mi
1719 Austin St Portland, TX	3.0	1.5	1127	$1,550	$1.38	45d	1	1.18mi
1506 Briar St Portland, TX	3.0	2.0	1803	$2,300	$1.28	44d	1	1.23mi
1461 Moore Ave Portland, TX	2.0	2.5	1313	$1,750	$1.33	14d	1	1.33mi
1404 Moore Ave Portland, TX	1.0–2.0	1.0	768	$1,400	$1.82	14d	10	1.33mi
1400 Moore Ave Portland, TX	1.0–2.0	1.0–2.0	768	$1,160	$1.51	44d	1	1.34mi
102 N Commonsway Dr Unit C Portland, TX	2.0	1.0	1008	$1,000	$0.99	44d	1	1.37mi
2201 Timberline Dr Unit Na Portland, TX	4.0	2.0	1484	$2,200	$1.48	14d	1	1.40mi
101 S Commonsway Dr Portland, TX	2.0	1.0	950	$1,050	$1.11	44d	1	1.43mi
101 S Commonsway Dr Unit 103C Portland, TX	2.0	1.5	950	$1,050	$1.11	44d	1	1.43mi
1028 Starlite Dr Portland, TX	3.0	1.5	984	$1,450	$1.47	22d	1	1.48mi

Listing history 3 events

1. 2026-06-18
   days on market $235,499 Active 2 DOM
2. 2026-06-16
   remarks 380-char remark
3. 2026-06-16
   listed $235,499 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: $24,048
• − Mortgage interest: −$13,192
• − Property taxes: −$3,532
• − Insurance: −$1,177
• − Repairs & maintenance: −$1,924
• − Management: −$1,924
• − Depreciation: −$6,851
• Taxable loss: −$4,552
• Est. tax savings @ 24.0%: +$1,093
• After-tax cash flow: $560/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-story home is in good condition with a modern and well-maintained interior and exterior. It is move-in ready and would benefit from some cosmetic updates to further enhance its value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Replace window treatments — Fresh window treatments improve curb appeal and interior aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Replace window treatments — Fresh window treatments improve curb appeal and interior aesthetics ↑

ⓘ 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