1104 Poseidon Dr · Portland, TX 78374

$256,499

4 bd · 2.0 ba · 1,676 sqft · SingleFamily · 7 Days on market

Built 2026 Good condition Est $337k · 24% 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 +15.0/15.0
• Cash flow +13.3/30.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +3.8/10.0
• Schools +3.7/10.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

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.

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

Property features AI

Finance

• Financial info: List price $278,999

Exterior

• Parking: 2 garage spaces (2 total parking spaces)
• Home design: Single-family home, Ramsey plan; Active listing
• Exterior features: Property located at 1104 Poseidon Dr, Portland, TX 78374

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Spec new construction (Ramsey plan); Living area approximately 1,676

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $256k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1 ($9/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 $224k (12.5% below list).
• Recommended offer: $224k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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; 10 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 32% 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $224,480 (12.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.88% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.01%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $336,876
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1118 Demeter Dr	0.18mi	4/2.0	1,668 (-0%)	3mo	$262,000	$157	88
2131 Artemis Dr	0.09mi	3/2.0 (-1)	1,634 (-2%)	1mo	$271,999	$166	86
2137 Artemis Dr	0.07mi	3/2.0 (-1)	1,634 (-2%)	4mo	$300,999	$184	85
2107 Fury	0.25mi	4/2.0	1,746 (+4%)	2mo	$324,990	$186	80
2103 Fury	0.27mi	3/2.0 (-1)	1,595 (-5%)	2mo	$319,990	$201	73
1111 Poseidon Dr	0.06mi	3/2.0 (-1)	1,474 (-12%)	1mo	$236,999	$161	72
1815 Clapper Rail Dr	0.60mi	3/2.0 (-1)	1,795 (+7%)	3mo	$384,900	$214	52
1812 White Ibis Dr	0.61mi	3/2.0 (-1)	1,817 (+8%)	2mo	$379,900	$209	51
1818 Spoonbill Dr	0.57mi	3/2.0 (-1)	1,817 (+8%)	4mo	$380,000	$209	51
1814 White Ibis Dr	0.62mi	4/3.0	1,817 (+8%)	5mo	$384,900	$212	49
2007 Cottonwood Dr	0.69mi	4/3.5	1,787 (+7%)	5mo	$271,000	$152	47
1816 Clapper Rail Dr	0.59mi	3/2.0 (-1)	1,896 (+13%)	1mo	$399,900	$211	45

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: -19.7%
• Equity multiple: 0.33×
• Total profit: $-48,059
• Equity at exit: $38,245

10-year hold

• IRR: -20.7%
• Equity multiple: 0.07×
• Total profit: $-67,070
• Equity at exit: $22,177

Cash invested: $71,820 (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: 9.5×

Monthly cashflow live

• Estimated rent: $2,245 high
• Mortgage (P&I): −$1,345
• Tax est. 1.5%: −$321 /mo · $3,847/yr
• Insurance: −$107
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $1

Break-even live

Break-even rent $2,244

Max offer price $256,499

Occupancy floor 95%

Sensitivity live

Price	-10% $178	-5% $89	+0% $1	+5% $-88	+10% $-176
Rent	-10% $-177	-5% $-88	+0% $1	+5% $89	+10% $178
Rate	-1.0pp $130	-0.5pp $66	base $1	+0.5pp $-66	+1.0pp $-133

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: $64,125
• Closing costs: $7,695
• Reserves months: —
• Total cash needed: —

Rent comps 10 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	0.13mi
2012 Cottonwood Dr Portland, TX	4.0	2.0	1619	$2,350	$1.45	23d	1	0.63mi
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	0.71mi
1801 Atascosa Dr Portland, TX	3.0	2.0	1594	$1,600	$1.00	15d	1	0.91mi
1601 Moore Ave Portland, TX	2.0–3.0	2.0–2.5	1295	$1,899	$1.47	15d	18	0.99mi
1719 Austin St Portland, TX	3.0	1.5	1127	$1,550	$1.38	46d	1	1.15mi
1506 Briar St Portland, TX	3.0	2.0	1803	$2,300	$1.28	45d	1	1.24mi
2201 Timberline Dr Unit Na Portland, TX	4.0	2.0	1484	$2,200	$1.48	15d	1	1.35mi
1825 Billy G Webb Portland, TX	1.0–3.0	1.0–2.0	1009	$1,983	$1.97	15d	32	1.50mi

Listing history 6 events

1. 2026-06-07
   pricedays on market $256,499 Active 7 DOM
2. 2026-06-03
   days on market $259,499 Active 3 DOM
3. 2026-06-03
   price $259,499 Active 2 DOM
4. 2026-06-02
   days on market $278,999 Active 2 DOM
5. 2026-05-31
   remarks 414-char remark
6. 2026-05-31
   listed $278,999 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: $26,938
• − Mortgage interest: −$14,368
• − Property taxes: −$3,847
• − Insurance: −$1,282
• − Repairs & maintenance: −$2,155
• − Management: −$2,155
• − Depreciation: −$7,462
• Taxable loss: −$4,332
• Est. tax savings @ 24.0%: +$1,040
• After-tax cash flow: $1,049/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 design and well-maintained exterior. It offers a good balance of functionality and style, making it an attractive option for both buyers and renters. Potential value can be further increased with minor updates to the exterior and interior.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Updating the flooring to a more modern style — Modern flooring can improve the overall look and feel of the home.
• Both Upgrading the kitchen appliances to a more modern style — Modern appliances can make the kitchen more functional and appealing to potential buyers/renters.
• Both Adding smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers/renters.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and add value to the home.

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 Updating the flooring to a more modern style — Modern flooring can improve the overall look and feel of the home. ↑
• Both Upgrading the kitchen appliances to a more modern style — Modern appliances can make the kitchen more functional and appealing to potential buyers/renters. ↑
• Both Adding smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers/renters. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and add value to the home. ↑

ⓘ 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