1913 Dolphin Dr · Portland, TX 78374

$190,000

3 bd · 2.5 ba · 1,815 sqft · SingleFamily public records · 56 Days on market

Built 1977 7,000 sqft lot $105/sqft · 23% below area Est $248k · 23% under

---

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 +16.2/30.0
• ARV discount +15.0/15.0
• 1% rule +5.9/10.0
• DSCR +5.0/10.0
• 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

Selling AS IS !! Looking for Investors, Flippers, or a Buyer wanting take on a project and make it their own.

Key facts

• 7,000 sq ft lot
• 2 garage spots
• Built 1977

Property features AI

Exterior

• Parking: 2-car garage; Front entry and rear/side/off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Brick and wood siding construction; Shingle roof; Slab foundation; Built on a 0.16-acre lot
• Exterior features: Storage; Chain link and wood fencing

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $1k of loan paydown is wiped out by about $6k 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 56 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.09% ✓
• Cap rate: 6.93%
• Cash-on-cash: 2.28%
• DSCR: 1.10
• GRM: 7.6

CMA / ARV

• ARV (median comp): $247,904
• List price: $190,000
• Delta: -23.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2020 Oak Ridge Dr	0.25mi	3/2.0	1,852 (+2%)	2mo	$250,000	$135	82
2204 Live Oak	0.22mi	3/2.0	1,894 (+4%)	1mo	$319,000	$168	79
2218 Memorial Pkwy	0.35mi	3/2.0	1,865 (+3%)	1mo	$260,000	$139	76
2331 Willow Dr	0.49mi	3/2.0	1,812 (-0%)	1mo	$219,500	$121	74
1812 White Ibis Dr	0.49mi	3/2.0	1,817 (+0%)	2mo	$379,900	$209	73
1816 Clapper Rail Dr	0.45mi	3/2.0	1,896 (+4%)	1mo	$399,900	$211	69
2018 Chesapeake Bay Dr	0.40mi	3/2.0	1,940 (+7%)	1mo	$314,000	$162	67
2417 Oak Brook Dr	0.66mi	4/2.0 (+1)	1,823 (+0%)	1mo	$314,000	$172	61
2207 Tallow Dr	0.73mi	4/2.0 (+1)	1,853 (+2%)	2mo	$329,900	$178	54
2103 Fury	0.60mi	3/2.0	1,595 (-12%)	2mo	$319,990	$201	48
2145 Medusa Dr	0.57mi	4/3.0 (+1)	2,024 (+12%)	1mo	$308,999	$153	46
2131 Artemis Dr	0.74mi	3/2.0	1,634 (-10%)	1mo	$271,999	$166	46

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: -16.6%
• Equity multiple: 0.43×
• Total profit: $-30,266
• Equity at exit: $28,330

10-year hold

• IRR: -16.3%
• Equity multiple: 0.23×
• Total profit: $-40,860
• Equity at exit: $16,428

Cash invested: $53,200 (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: 7.6×

Monthly cashflow live

• Estimated rent: $2,072 high
• Mortgage (P&I): −$996
• Tax from tax record: −$460 /mo · $5,521/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $101

Break-even live

Break-even rent $1,944

Max offer price $190,000

Occupancy floor 90%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1801 Atascosa Dr Portland, TX	3.0	2.0	1594	$1,600	$1.00	13d	1	0.26mi
2201 Timberline Dr Unit Na Portland, TX	4.0	2.0	1484	$2,200	$1.48	13d	1	0.57mi
2012 Cottonwood Dr Portland, TX	4.0	2.0	1619	$2,350	$1.45	21d	1	0.59mi
2112 Westwood Dr Portland, TX	4.0	3.5	1863	$2,350	$1.26	13d	1	0.67mi
1825 Billy G Webb Portland, TX	1.0–3.0	1.0–2.0	1009	$1,983	$1.97	13d	32	0.73mi
1203 Athena Dr Portland, TX	3.0	2.0	1535	$2,400	$1.56	13d	1	0.89mi
1601 Moore Ave Portland, TX	2.0–3.0	2.0–2.5	1295	$1,899	$1.47	13d	18	0.93mi
1461 Moore Ave Portland, TX	2.0	2.5	1313	$1,750	$1.33	13d	1	1.03mi
101 Terlingua Dr Portland, TX	3.0	2.0	1367	$1,995	$1.46	13d	1	1.09mi
1506 Briar St Portland, TX	3.0	2.0	1803	$2,300	$1.28	43d	1	1.11mi
544 Olympic Portland, TX	1.0–3.0	1.0–2.5	1079	$2,825	$2.62	13d	8	1.16mi
1012 Memorial Pkwy Portland, TX	3.0	2.0	1409	$1,850	$1.31	43d	1	1.18mi
207 Blanco Dr Portland, TX	4.0	2.0	1701	$2,550	$1.50	43d	1	1.29mi
217 Palmer Dr Portland, TX	3.0	2.0	1904	$2,175	$1.14	13d	1	1.47mi

Listing history 18 events

1. 2026-06-18
   days on market $190,000 Active 56 DOM
2. 2026-06-17
   days on market $190,000 Active 55 DOM
3. 2026-06-16
   days on market $190,000 Active 54 DOM
4. 2026-06-15
   days on market $190,000 Active 53 DOM
5. 2026-06-14
   days on market $190,000 Active 51 DOM
6. 2026-06-13
   days on market $190,000 Active 50 DOM
7. 2026-06-10
   days on market $190,000 Active 48 DOM
8. 2026-06-09
   days on market $190,000 Active 47 DOM
9. 2026-06-08
   days on market $190,000 Active 46 DOM
10. 2026-06-07
    days on market $190,000 Active 45 DOM
11. 2026-06-03
    days on market $190,000 Active 41 DOM
12. 2026-06-02
    days on market $190,000 Active 40 DOM
13. 2026-06-01
    days on market $190,000 Active 39 DOM
14. 2026-05-31
    days on market $190,000 Active 38 DOM
15. 2026-05-30
    days on market $190,000 Active 37 DOM
16. 2026-04-23
    listed $190,000 Active 111-char remark
17. 2025-10-22
    soldstatus
18. 2008-05-07
    soldstatus

ⓘ 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: $5,521 · $460/mo
• Projected year-2 tax: $5,521 · $460/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 · 27 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: $24,858
• − Mortgage interest: −$10,643
• − Property taxes: −$5,521
• − Insurance: −$950
• − Repairs & maintenance: −$1,989
• − Management: −$1,989
• − Depreciation: −$5,527
• Taxable loss: −$1,760
• Est. tax savings @ 24.0%: +$422
• After-tax cash flow: $1,633/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

3 events — show timeline

• 2026-04-23 Listed $190,000 CBMLS
• 2025-10-22 Sold (Public Records) — Public Records
• 2008-05-07 Sold (Public Records) — Public Records

Property tax history

+5.2%/yr

Latest (2025): $5,521 · +13.1% YoY. Source: county tax records.