1111 Poseidon Dr · Portland, TX 78374

$236,999

3 bd · 2.0 ba · 1,474 sqft · SingleFamily · 161 Days on market

Built 2025 4,791 sqft lot Est $264k · 10% under ↓ 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 +12.9/30.0
• ARV discount +12.1/15.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

The Newlin - 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. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

Key facts

• Walk-in closet
• Open floorplan
• En-suite bathroom

Tags

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

Property features AI

Finance

• Financial info: Down payment assistance resource available
• HOA & community: Subdivision: David Estates; Neighborhood amenities: Other (see remarks)

Exterior

• Parking: 2-car garage
• Utilities: Connected to water system; Connected to sewer system
• Home design: New construction by Lennar; Slab foundation; Composition roof
• Construction: Built recently (new); Cement fiber exterior; Slab foundation; Composition roof
• Exterior features: Privacy fence; Cement fiber exterior

Interior

• Kitchen: Stove/Range; Dishwasher
• Bedrooms: Master bedroom on lower level with walk-in closet and full bath; Bedroom 2 (11 x 10); Bedroom 3 (10 x 11); Master bedroom dimensions 13 x 14
• Flooring: Carpeting; Vinyl flooring
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central heating; Electric and natural gas heat; Central air conditioning
• Interior features: Open floor plan; Breakfast bar; Utility room inside; Cable TV available; All bedrooms downstairs; Laundry on main level; Walk-in closets; 1 living area
• Laundry & utility: Washer connection; Dryer connection; Laundry located on main level; Utility room inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $237k.

Deal economics

• At list price, monthly cash flow is $-18 ($-217/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (13.5% below list).
• Recommended offer: $205k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 161 days — a 12% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $18k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $205,038 (13.5% 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. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.87% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $263,846
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Poseidon Dr	0.00mi	3/2.0	1,474 (0%)	1mo	$236,999	$161	99
1309 Hera Dr	0.17mi	3/2.0	1,474 (0%)	8mo	$279,999	$190	86
2131 Artemis Dr	0.13mi	3/2.0	1,634 (+11%)	1mo	$271,999	$166	75
1109 Poseidon Dr	0.01mi	3/2.0	1,260 (-14%)	1mo	$224,999	$179	75
2137 Artemis Dr	0.09mi	3/2.0	1,634 (+11%)	4mo	$300,999	$184	74
1103 Poseidon Dr	0.05mi	3/2.0	1,260 (-14%)	1mo	$233,999	$186	73
1119 Poseidon Dr	0.04mi	3/2.0	1,260 (-14%)	2mo	$239,999	$190	72
2103 Fury	0.29mi	3/2.0	1,595 (+8%)	2mo	$319,990	$201	71
1118 Demeter Dr	0.12mi	4/2.0 (+1)	1,668 (+13%)	3mo	$262,000	$157	65
1303 Hera Dr	0.17mi	4/2.0 (+1)	1,667 (+13%)	7mo	$266,999	$160	59
1307 Hera Dr	0.17mi	4/2.0 (+1)	1,667 (+13%)	8mo	$248,999	$149	59
1137 Athena Dr	0.16mi	4/2.0 (+1)	1,667 (+13%)	9mo	$240,999	$145	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: -20.3%
• Equity multiple: 0.31×
• Total profit: $-45,531
• Equity at exit: $35,337

10-year hold

• IRR: -21.8%
• Equity multiple: 0.03×
• Total profit: $-64,224
• Equity at exit: $20,491

Cash invested: $66,360 (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: 9.6×

Monthly cashflow live

• Estimated rent: $2,050 high
• Mortgage (P&I): −$1,243
• Tax est. 1.5%: −$296 /mo · $3,555/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $-18

Break-even live

Break-even rent $2,073

Max offer price $234,388

Occupancy floor 96%

Sensitivity live

Price	-10% $146	-5% $64	+0% $-18	+5% $-100	+10% $-182
Rent	-10% $-180	-5% $-99	+0% $-18	+5% $63	+10% $144
Rate	-1.0pp $101	-0.5pp $42	base $-18	+0.5pp $-79	+1.0pp $-142

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: $59,250
• Closing costs: $7,110
• 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	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
201 Walker Ave Portland, TX	2.0	1.5	1195	$1,350	$1.13	15d	1	1.10mi
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
1461 Moore Ave Portland, TX	2.0	2.5	1313	$1,750	$1.33	15d	1	1.33mi
1404 Moore Ave Portland, TX	1.0–2.0	1.0	768	$1,400	$1.82	15d	10	1.33mi
1400 Moore Ave Portland, TX	1.0–2.0	1.0–2.0	768	$1,160	$1.51	45d	1	1.34mi
102 N Commonsway Dr Unit C Portland, TX	2.0	1.0	1008	$1,000	$0.99	45d	1	1.37mi
2201 Timberline Dr Unit Na Portland, TX	4.0	2.0	1484	$2,200	$1.48	15d	1	1.40mi
101 S Commonsway Dr Portland, TX	2.0	1.0	950	$1,050	$1.11	45d	1	1.43mi
101 S Commonsway Dr Unit 103C Portland, TX	2.0	1.5	950	$1,050	$1.11	45d	1	1.43mi
1028 Starlite Dr Portland, TX	3.0	1.5	984	$1,450	$1.47	23d	1	1.48mi

Listing history 29 events

1. 2026-04-18
   status Pending
2. 2026-04-15
   price $236,999
3. 2026-04-10
   price $241,999
4. 2026-04-09
   status Back on Market
5. 2026-04-07
   status Pending
6. 2026-04-02
   price $236,999
7. 2026-03-31
   price $238,999
8. 2026-03-28
   price $239,999
9. 2026-03-25
   price $240,999
10. 2026-03-24
    price $241,999
11. 2026-03-12
    price $243,999
12. 2026-03-04
    price $245,999
13. 2026-02-25
    price $248,999
14. 2026-02-24
    price $266,999
15. 2026-02-10
    price $264,999
16. 2026-02-04
    price $263,999
17. 2026-02-03
    price $248,999
18. 2026-01-27
    price $247,999
19. 2026-01-24
    price $246,999
20. 2026-01-23
    price $248,999
21. 2026-01-14
    price $239,999
22. 2026-01-13
    price $241,999
23. 2026-01-03
    price $242,999
24. 2025-12-23
    price $244,999
25. 2025-12-21
    price $248,999
26. 2025-12-13
    price $249,999
27. 2025-11-18
    price $245,999
28. 2025-11-11
    price $246,999
29. 2025-11-06
    listed $254,999 New

ⓘ 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: $24,605
• − Mortgage interest: −$13,276
• − Property taxes: −$3,555
• − Insurance: −$1,185
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − Depreciation: −$6,895
• Taxable loss: −$4,242
• Est. tax savings @ 24.0%: +$1,018
• After-tax cash flow: $802/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.

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

-7.1% since first listed

29 events — show timeline

• 2026-04-18 Pending — LERA
• 2026-04-15 Price Changed $236,999 LERA
• 2026-04-10 Price Changed $241,999 LERA
• 2026-04-09 Relisted — LERA
• 2026-04-07 Pending — LERA
• 2026-04-02 Price Changed $236,999 LERA
• 2026-03-31 Price Changed $238,999 LERA
• 2026-03-28 Price Changed $239,999 LERA
• 2026-03-25 Price Changed $240,999 LERA
• 2026-03-24 Price Changed $241,999 LERA
• 2026-03-12 Price Changed $243,999 LERA
• 2026-03-04 Price Changed $245,999 LERA
• 2026-02-25 Price Changed $248,999 LERA
• 2026-02-24 Price Changed $266,999 LERA
• 2026-02-10 Price Changed $264,999 LERA
• 2026-02-04 Price Changed $263,999 LERA
• 2026-02-03 Price Changed $248,999 LERA
• 2026-01-27 Price Changed $247,999 LERA
• 2026-01-24 Price Changed $246,999 LERA
• 2026-01-23 Price Changed $248,999 LERA
• 2026-01-14 Price Changed $239,999 LERA
• 2026-01-13 Price Changed $241,999 LERA
• 2026-01-03 Price Changed $242,999 LERA
• 2025-12-23 Price Changed $244,999 LERA
• 2025-12-21 Price Changed $248,999 LERA
• 2025-12-13 Price Changed $249,999 LERA
• 2025-11-18 Price Changed $245,999 LERA
• 2025-11-11 Price Changed $246,999 LERA
• 2025-11-06 Listed $254,999 LERA