1103 Poseidon Dr · Portland, TX 78374

$233,999

3 bd · 2.0 ba · 1,260 sqft · SingleFamily · 54 Days on market

Built 2026 Excellent condition 4,791 sqft lot Est $262k · 11% under ↓ 9% 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 +12.5/30.0
• ARV discount +12.3/15.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• Schools +3.7/10.0
• 1% rule +3.6/10.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

The Beckman- This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. 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

• 4,791 sq ft lot
• 2 garage spots
• Built 2026

Property features AI

Finance

• Financial info: Down payment resources available
• HOA & community: Neighborhood amenities: Other - see remarks

Exterior

• Parking: 2-car garage
• Utilities: Water system (COP); Sewer system (COP); Gas supplied by CPE; Electricity supplied by AEP; Garbage service by Republic
• Home design: New construction; Slab foundation; Composition roof; Subdivision: David Estates
• Construction: Built by Lennar
• 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 (10 x 10); Bedroom 3 (10 x 11); Master bedroom (12 x 13)
• Flooring: Carpeting; Vinyl flooring
• Bathrooms: 2 full bathrooms; Master bath with tub/shower combination (9 x 5)
• Heating & cooling: Central heating; Electric and natural gas heating; Central air conditioning
• Interior features: Open floor plan; Breakfast bar; Utility room inside; 1 living area; Cable TV available; All bedrooms downstairs; Laundry on main level; Walk-in closets
• Laundry & utility: Washer connection; Dryer connection

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $234k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-36 ($-429/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (14.5% below list).
• Recommended offer: $200k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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 54 days — a 3% lower offer ($227k) is reasonable based on typical stale-listing flexibility.

Recommended offer $200,178 (14.5% 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 54 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
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: 0.86% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $262,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1103 Poseidon Dr	0.00mi	3/2.0	1,260 (0%)	1mo	$233,999	$186	99
1109 Poseidon Dr	0.04mi	3/2.0	1,260 (0%)	1mo	$224,999	$179	98
1119 Poseidon Dr	0.08mi	3/2.0	1,260 (0%)	2mo	$239,999	$190	95
1104 Demeter Dr	0.19mi	3/2.0	1,226 (-3%)	2mo	$258,000	$210	85
1301 Hera Dr	0.22mi	3/2.0	1,260 (0%)	9mo	$267,999	$213	82
1305 Hera Dr	0.22mi	3/2.0	1,260 (0%)	9mo	$237,199	$188	82
1113 Athena Dr	0.24mi	3/2.0	1,260 (0%)	10mo	$217,749	$173	80
1135 Athena Dr	0.21mi	3/2.0	1,260 (0%)	12mo	$264,999	$210	80
1112 Athena Dr	0.24mi	3/2.0	1,260 (0%)	11mo	$261,999	$208	79
1107 Athena Dr	0.26mi	3/2.0	1,260 (0%)	11mo	$267,999	$213	79
1119 Athena Dr	0.23mi	3/2.0	1,260 (0%)	12mo	$221,385	$176	79
2246 Medusa Dr	0.15mi	3/2.0	1,415 (+12%)	10mo	$309,685	$219	64

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: -20.8%
• Equity multiple: 0.30×
• Total profit: $-46,028
• Equity at exit: $34,890

10-year hold

• IRR: -22.9%
• Equity multiple: -0.00×
• Total profit: $-65,558
• Equity at exit: $20,232

Cash invested: $65,520 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,002 high
• Mortgage (P&I): −$1,227
• Tax est. 1.5%: −$292 /mo · $3,510/yr
• Insurance: −$97
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-36

Break-even live

Break-even rent $2,047

Max offer price $228,832

Occupancy floor 97%

Sensitivity live

Price	-10% $126	-5% $45	+0% $-36	+5% $-117	+10% $-197
Rent	-10% $-194	-5% $-115	+0% $-36	+5% $43	+10% $122
Rate	-1.0pp $82	-0.5pp $24	base $-36	+0.5pp $-96	+1.0pp $-158

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: $58,500
• Closing costs: $7,020
• 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 8 events

1. 2026-04-15
   status Pending
2. 2026-04-10
   price $233,999
3. 2026-04-09
   price $238,999
4. 2026-03-18
   price $258,999
5. 2026-03-18
   price $238,999
6. 2026-02-27
   price $258,999
7. 2026-02-24
   price $257,999
8. 2026-02-20
   listed $255,999 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: $24,021
• − Mortgage interest: −$13,108
• − Property taxes: −$3,510
• − Insurance: −$1,170
• − Repairs & maintenance: −$1,922
• − Management: −$1,922
• − Depreciation: −$6,807
• Taxable loss: −$4,417
• Est. tax savings @ 24.0%: +$1,060
• After-tax cash flow: $632/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 · 13 photos

Excellent 95/100 None rehab

This single-family home is in excellent condition with no visible repairs needed. It offers a good investment opportunity with potential for both resale and rental value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and resale value
• Both Landscaping the front yard — Improves curb appeal and rental value
• Both Updating the kitchen appliances — Modernizes the kitchen and enhances resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and resale value ↑
• Both Landscaping the front yard — Improves curb appeal and rental value ↑
• Both Updating the kitchen appliances — Modernizes the kitchen and enhances resale value ↑

ⓘ 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

-8.6% since first listed

8 events — show timeline

• 2026-04-15 Pending — LERA
• 2026-04-10 Price Changed $233,999 LERA
• 2026-04-09 Price Changed $238,999 LERA
• 2026-03-18 Price Changed $258,999 LERA
• 2026-03-18 Price Changed $238,999 LERA
• 2026-02-27 Price Changed $258,999 LERA
• 2026-02-24 Price Changed $257,999 LERA
• 2026-02-20 Listed $255,999 LERA