118 Driftwood Dr · Portland, TX 78374

$167,500

3 bd · 2.0 ba · 1,813 sqft · SingleFamily public records · 21 Days on market

Built 1963 7,000 sqft lot Est $252k · 34% under

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Why this score? — see what drove the C 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 +17.7/30.0
• ARV discount +15.0/15.0
• 1% rule +7.8/10.0
• DSCR +5.5/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this solid brick 3-bedroom, 2-bathroom property in Portland, Texas, offering 1,621 square feet of comfortable living space. Inside, you’ll find a functional layout with a cozy wood-burning fireplace that anchors the main living area. The garage conversion provides flexible space that can easily serve as a fourth bedroom, home office, or bonus room to fit your needs. Recent updates include a newer roof, giving peace of mind for years to come. Outside, enjoy a fully fenced backyard with plenty of room for pets, play, or future outdoor upgrades. This home is full of potential and ready for your personal touch. A great opportunity to create the space you’ve been wait

Key facts

• Solid brick
• Garage conversion
• Newer roof

Tags

• SOLID BRICK
• COZY WOOD-BURNING FIREPLACE
• GARAGE CONVERSION
• NEWER ROOF
• FULLY FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $165k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.3% 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.
• Market conditions: Rents soft (-1.8%/yr); 302 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 31% 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 $1k of loan paydown is wiped out by about $5k 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 21 days — a 2% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,987 (1.5% below list)

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.28% ✓
• Cap rate: 7.25%
• Cash-on-cash: 3.42%
• DSCR: 1.15
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $252,007
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Daniel Moore Ave	0.13mi	4/2.0 (+1)	1,701 (-6%)	6mo	$231,000	$136	74
1721 Denver St	0.45mi	3/2.0	1,787 (-1%)	5mo	$255,000	$143	73
215 Pecos Dr	0.55mi	3/2.0	1,792 (-1%)	6mo	$237,000	$132	67
1123 Orion Dr	0.47mi	3/2.0	1,713 (-6%)	5mo	$170,000	$99	65
1612 Memorial Pkwy	0.48mi	3/2.0	1,680 (-7%)	3mo	$238,000	$142	63
120 Presidio Dr	0.52mi	4/2.5 (+1)	1,754 (-3%)	2mo	$233,000	$133	62
214 Sabine St	0.65mi	3/2.0	1,734 (-4%)	1mo	$219,000	$126	61
2218 Memorial Pkwy	0.74mi	3/2.0	1,865 (+3%)	1mo	$260,000	$139	60
219 Terlingua Dr	0.62mi	3/2.0	1,671 (-8%)	2mo	$234,900	$141	56
230 Terlingua	0.70mi	3/2.0	1,708 (-6%)	4mo	$245,000	$143	55
117 E Broadway Ave	0.51mi	4/2.5 (+1)	1,589 (-12%)	2mo	$219,000	$138	47
1910 Chesapeake Bay Dr	0.72mi	4/2.0 (+1)	2,040 (+12%)	4mo	$393,000	$193	37

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: -15.3%
• Equity multiple: 0.47×
• Total profit: $-24,642
• Equity at exit: $24,975

10-year hold

• IRR: -15.5%
• Equity multiple: 0.28×
• Total profit: $-33,704
• Equity at exit: $14,482

Cash invested: $46,900 (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: 6.5×

Monthly cashflow live

• Estimated rent: $2,152 high
• Mortgage (P&I): −$878
• Tax from tax record: −$618 /mo · $7,419/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $134

Break-even live

Break-even rent $1,983

Max offer price $167,500

Occupancy floor 89%

Sensitivity live

Price	-10% $229	-5% $181	+0% $134	+5% $86	+10% $39
Rent	-10% $-36	-5% $49	+0% $134	+5% $219	+10% $304
Rate	-1.0pp $218	-0.5pp $176	base $134	+0.5pp $90	+1.0pp $46

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: $41,875
• Closing costs: $5,025
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2201 Timberline Dr Unit Na Portland, TX	4.0	2.0	1484	$2,200	$1.48	14d	1	0.46mi
1012 Memorial Pkwy Portland, TX	3.0	2.0	1409	$1,850	$1.31	44d	1	0.48mi
101 Terlingua Dr Portland, TX	3.0	2.0	1367	$1,995	$1.46	14d	1	0.51mi
207 Blanco Dr Portland, TX	4.0	2.0	1701	$2,550	$1.50	44d	1	0.54mi
1801 Atascosa Dr Portland, TX	3.0	2.0	1594	$1,600	$1.00	14d	1	0.63mi
1825 Billy G Webb Portland, TX	1.0–3.0	1.0–2.0	1009	$1,983	$1.97	14d	32	0.69mi
544 Olympic Portland, TX	1.0–3.0	1.0–2.5	1079	$2,825	$2.62	14d	8	0.74mi
1461 Moore Ave Portland, TX	2.0	2.5	1313	$1,750	$1.33	14d	1	0.78mi
103 Magnolia Pl Portland, TX	3.0	2.0	1541	$2,100	$1.36	14d	1	0.83mi
214 Shore Dr Portland, TX	3.0	3.0	2289	$3,200	$1.40	44d	1	1.01mi
1506 Briar St Portland, TX	3.0	2.0	1803	$2,300	$1.28	44d	1	1.01mi
2012 Cottonwood Dr Portland, TX	4.0	2.0	1619	$2,350	$1.45	22d	1	1.02mi
1601 Moore Ave Portland, TX	2.0–3.0	2.0–2.5	1295	$1,899	$1.47	14d	18	1.03mi
2112 Westwood Dr Portland, TX	4.0	3.5	1863	$2,350	$1.26	14d	1	1.05mi
217 Palmer Dr Portland, TX	3.0	2.0	1904	$2,175	$1.14	14d	1	1.23mi

Listing history 24 events

1. 2026-03-03
   status Pending
2. 2026-02-25
   historical
3. 2026-02-03
   listed $167,500 Active
4. 2025-04-16
   price $199,900
5. 2025-04-16
   status Active
6. 2025-04-07
   historical Active Under Contract
7. 2025-04-04
   status Active
8. 2025-03-26
   historical Active Under Contract
9. 2025-01-14
   status Active
10. 2025-01-02
    historical Active Under Contract
11. 2024-11-20
    price $195,000
12. 2024-10-19
    price $199,900
13. 2024-08-01
    listed $245,000 Active
14. 2022-10-06
    historical
15. 2022-08-16
    listed $259,900 Active
16. 2017-06-14
    historical
17. 2017-05-10
    soldstatus
18. 2017-05-08
    soldstatus Closed
19. 2017-04-07
    status Pending
20. 2017-03-22
    historical Option Period
21. 2017-03-17
    status Pending
22. 2017-03-09
    status Active
23. 2017-02-12
    status Pending
24. 2017-01-31
    listed $150,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $7,419 · $618/mo
• Projected year-2 tax: $7,419 · $618/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 28 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,826
• − Mortgage interest: −$9,383
• − Property taxes: −$7,419
• − Insurance: −$838
• − Repairs & maintenance: −$2,066
• − Management: −$2,066
• − Depreciation: −$4,873
• Taxable loss: −$817
• Est. tax savings @ 24.0%: +$196
• After-tax cash flow: $1,802/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

+11.7% since first listed

24 events — show timeline

• 2026-03-03 Pending — CBMLS
• 2026-02-25 Delisted — CBMLS
• 2026-02-03 Listed $167,500 CBMLS
• 2025-04-16 Price Changed $199,900 CBMLS
• 2025-04-16 Relisted — CBMLS
• 2025-04-07 Contingent — CBMLS
• 2025-04-04 Relisted — CBMLS
• 2025-03-26 Contingent — CBMLS
• 2025-01-14 Relisted — CBMLS
• 2025-01-02 Contingent — CBMLS
• 2024-11-20 Price Changed $195,000 CBMLS
• 2024-10-19 Price Changed $199,900 CBMLS
• 2024-08-01 Listed $245,000 CBMLS
• 2022-10-06 Delisted — CBMLS
• 2022-08-16 Listed $259,900 CBMLS
• 2017-06-14 Delisted — CBMLS
• 2017-05-10 Sold (Public Records) — Public Records
• 2017-05-08 Sold (MLS) — CBMLS
• 2017-04-07 Pending — CBMLS
• 2017-03-22 Contingent — CBMLS
• 2017-03-17 Pending — CBMLS
• 2017-03-09 Relisted — CBMLS
• 2017-02-12 Pending — CBMLS
• 2017-01-31 Listed $150,000 CBMLS

Property tax history

+9.5%/yr

Latest (2025): $7,419 · +6.9% YoY. Source: county tax records.