1105 Poseidon Dr · Portland, TX 78374

$255,499

4 bd · 2.0 ba · 1,667 sqft · SingleFamily · 78 Days on market

Built 2026 Excellent condition 4,791 sqft lot $153/sqft · at area comps Est $247k · at est. ↓ 10% 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 +14.3/30.0
• ARV discount +6.0/15.0
• Condition / age +5.0/5.0
• DSCR +4.3/10.0
• 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. 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

• Intimate dining area
• Attached bathroom
• Walk-in closet

Tags

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

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $255k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $46 ($551/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 $229k (10.2% below list).
• Recommended offer: $229k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 78 days — a 6% lower offer ($240k) is reasonable based on typical stale-listing flexibility.

Recommended offer $229,317 (10.2% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 10% 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: 6.51%
• Cash-on-cash: 0.77%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (median comp): $247,071
• List price: $255,499
• Delta: 3.41%
• 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	0.15mi	4/2.0	1,668 (+0%)	3mo	$262,000	$157	90
2131 Artemis Dr	0.10mi	3/2.0 (-1)	1,634 (-2%)	1mo	$271,999	$166	86
2137 Artemis Dr	0.06mi	3/2.0 (-1)	1,634 (-2%)	4mo	$300,999	$184	86
2107 Fury	0.25mi	4/2.0	1,746 (+5%)	2mo	$324,990	$186	79
2103 Fury	0.27mi	3/2.0 (-1)	1,595 (-4%)	2mo	$319,990	$201	74
1111 Poseidon Dr	0.04mi	3/2.0 (-1)	1,474 (-12%)	1mo	$236,999	$161	73
1815 Clapper Rail Dr	0.60mi	3/2.0 (-1)	1,795 (+8%)	3mo	$384,900	$214	52
1812 White Ibis Dr	0.61mi	3/2.0 (-1)	1,817 (+9%)	2mo	$379,900	$209	50
1818 Spoonbill Dr	0.57mi	3/2.0 (-1)	1,817 (+9%)	4mo	$380,000	$209	50
1814 White Ibis Dr	0.61mi	4/3.0	1,817 (+9%)	5mo	$384,900	$212	48
2007 Cottonwood Dr	0.68mi	4/3.5	1,787 (+7%)	5mo	$271,000	$152	46
1816 Clapper Rail Dr	0.59mi	3/2.0 (-1)	1,896 (+14%)	1mo	$399,900	$211	44

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: -18.5%
• Equity multiple: 0.37×
• Total profit: $-45,163
• Equity at exit: $38,096

10-year hold

• IRR: -18.3%
• Equity multiple: 0.14×
• Total profit: $-61,393
• Equity at exit: $22,091

Cash invested: $71,540 (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: 9.3×

Monthly cashflow live

• Estimated rent: $2,293 high
• Mortgage (P&I): −$1,340
• Tax est. 1.5%: −$319 /mo · $3,832/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $46

Break-even live

Break-even rent $2,235

Max offer price $255,499

Occupancy floor 93%

Sensitivity live

Price	-10% $222	-5% $134	+0% $46	+5% $-42	+10% $-131
Rent	-10% $-135	-5% $-45	+0% $46	+5% $136	+10% $227
Rate	-1.0pp $175	-0.5pp $111	base $46	+0.5pp $-20	+1.0pp $-88

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: $63,875
• Closing costs: $7,665
• 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	0.07mi
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
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
2201 Timberline Dr Unit Na Portland, TX	4.0	2.0	1484	$2,200	$1.48	15d	1	1.40mi

Listing history 6 events

1. 2026-05-13
   status Pending 614-char remark

   Show marketing remark (614 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. 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 $255,499 614-char remark

   Show marketing remark (614 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. 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 $261,499 614-char remark

   Show marketing remark (614 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. 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 $280,999 614-char remark

   Show marketing remark (614 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. 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 $284,999 614-char remark

   Show marketing remark (614 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. 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
   listed $283,999 New 614-char remark

   Show marketing remark (614 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. 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: $27,518
• − Mortgage interest: −$14,312
• − Property taxes: −$3,832
• − Insurance: −$1,277
• − Repairs & maintenance: −$2,201
• − Management: −$2,201
• − Depreciation: −$7,433
• Taxable loss: −$3,739
• Est. tax savings @ 24.0%: +$897
• After-tax cash flow: $1,448/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 · 6 photos

Excellent 100/100 None rehab

This new single-story home is move-in ready with modern design and excellent condition.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Painting — Fresh paint can make a home more appealing
• Both Lighting — Improved lighting can make the home more inviting

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Painting — Fresh paint can make a home more appealing ↑
• Both Lighting — Improved lighting can make the home more inviting ↑

ⓘ 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

-10.0% since first listed

6 events — show timeline

• 2026-05-13 Pending — LERA
• 2026-05-06 Price Changed $255,499 LERA
• 2026-05-05 Price Changed $261,499 LERA
• 2026-04-15 Price Changed $280,999 LERA
• 2026-02-27 Price Changed $284,999 LERA
• 2026-02-24 Listed $283,999 LERA