1110 Poseidon Dr · Portland, TX 78374

$232,749

3 bd · 2.0 ba · 1,260 sqft · SingleFamily · 64 Days on market

Built 2026 Poor condition 4,791 sqft lot $185/sqft · at area comps Est $236k · at est. ↓ 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 +12.9/30.0
• ARV discount +8.0/15.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Schools +3.7/10.0
• Rent growth +2.0/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

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 July 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

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $233k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-15 ($-185/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (13.4% below list).
• Recommended offer: $202k (13.4% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 64 days — a 6% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $22k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $201,650 (13.4% 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 64 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 6.21%
• Cash-on-cash: -0.28%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (median comp): $235,524
• List price: $232,749
• Delta: -1.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1109 Poseidon Dr	0.03mi	3/2.0	1,260 (0%)	1mo	$224,999	$179	98
1103 Poseidon Dr	0.04mi	3/2.0	1,260 (0%)	1mo	$233,999	$186	98
1119 Poseidon Dr	0.07mi	3/2.0	1,260 (0%)	2mo	$239,999	$190	95
1104 Demeter Dr	0.20mi	3/2.0	1,226 (-3%)	2mo	$258,000	$210	84
1301 Hera Dr	0.20mi	3/2.0	1,260 (0%)	9mo	$267,999	$213	83
1305 Hera Dr	0.20mi	3/2.0	1,260 (0%)	9mo	$237,199	$188	83
1135 Athena Dr	0.20mi	3/2.0	1,260 (0%)	12mo	$264,999	$210	80
1113 Athena Dr	0.25mi	3/2.0	1,260 (0%)	10mo	$217,749	$173	80
1119 Athena Dr	0.24mi	3/2.0	1,260 (0%)	12mo	$221,385	$176	79
1107 Athena Dr	0.27mi	3/2.0	1,260 (0%)	11mo	$267,999	$213	79
1112 Athena Dr	0.25mi	3/2.0	1,260 (0%)	11mo	$261,999	$208	79
2246 Medusa Dr	0.18mi	3/2.0	1,415 (+12%)	10mo	$309,685	$219	63

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: -20.2%
• Equity multiple: 0.32×
• Total profit: $-44,578
• Equity at exit: $34,704

10-year hold

• IRR: -21.7%
• Equity multiple: 0.04×
• Total profit: $-62,799
• Equity at exit: $20,124

Cash invested: $65,170 (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: $2,016 high
• Mortgage (P&I): −$1,221
• Tax est. 1.5%: −$291 /mo · $3,491/yr
• Insurance: −$97
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $-15

Break-even live

Break-even rent $2,036

Max offer price $230,515

Occupancy floor 96%

Sensitivity live

Price	-10% $145	-5% $65	+0% $-15	+5% $-96	+10% $-176
Rent	-10% $-175	-5% $-95	+0% $-15	+5% $64	+10% $144
Rate	-1.0pp $102	-0.5pp $44	base $-15	+0.5pp $-76	+1.0pp $-137

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: $58,187
• Closing costs: $6,982
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1203 Athena Dr Portland, TX	3.0	2.0	1535	$2,400	$1.56	16d	1	0.09mi
2012 Cottonwood Dr Portland, TX	4.0	2.0	1619	$2,350	$1.45	24d	1	0.70mi
2112 Westwood Dr Portland, TX	4.0	3.5	1863	$2,350	$1.26	16d	1	0.74mi
6736 Buddy Ganem Dr Portland, TX	3.0	2.0	1216	$1,595	$1.31	24d	1	0.75mi
1801 Atascosa Dr Portland, TX	3.0	2.0	1594	$1,600	$1.00	16d	1	1.00mi
1601 Moore Ave Portland, TX	2.0–3.0	2.0–2.5	1295	$1,899	$1.47	16d	18	1.05mi
201 Walker Ave Portland, TX	2.0	1.5	1195	$1,350	$1.13	16d	1	1.17mi
1719 Austin St Portland, TX	3.0	1.5	1127	$1,550	$1.38	47d	1	1.24mi
1506 Briar St Portland, TX	3.0	2.0	1803	$2,300	$1.28	46d	1	1.30mi
1461 Moore Ave Portland, TX	2.0	2.5	1313	$1,750	$1.33	16d	1	1.39mi
1404 Moore Ave Portland, TX	1.0–2.0	1.0	768	$1,400	$1.82	16d	10	1.39mi
1400 Moore Ave Portland, TX	1.0–2.0	1.0–2.0	768	$1,160	$1.51	46d	1	1.40mi
102 N Commonsway Dr Unit C Portland, TX	2.0	1.0	1008	$1,000	$0.99	46d	1	1.42mi
2201 Timberline Dr Unit Na Portland, TX	4.0	2.0	1484	$2,200	$1.48	16d	1	1.44mi
101 S Commonsway Dr Portland, TX	2.0	1.0	950	$1,050	$1.11	46d	1	1.49mi
101 S Commonsway Dr Unit 103C Portland, TX	2.0	1.5	950	$1,050	$1.11	46d	1	1.49mi

Listing history 27 events

1. 2026-06-18
   status $232,749 Pending 64 DOM
2. 2026-06-18
   days on market $232,749 Price Change 64 DOM
3. 2026-06-17
   days on market $232,749 Price Change 63 DOM
4. 2026-06-16
   days on market $232,749 Price Change 62 DOM
5. 2026-06-15
   days on market $232,749 Price Change 61 DOM
6. 2026-06-14
   days on market $232,749 Price Change 59 DOM
7. 2026-06-13
   pricedays on market $232,749 Price Change 58 DOM
8. 2026-06-10
   days on market $231,999 Price Change 56 DOM
9. 2026-06-09
   days on market $231,999 Price Change 55 DOM
10. 2026-06-09
    price $231,999 Price Change 54 DOM
11. 2026-06-08
    days on market $231,499 Price Change 54 DOM
12. 2026-06-07
    days on market $231,499 Price Change 53 DOM
13. 2026-06-03
    days on market $231,499 Price Change 49 DOM
14. 2026-06-03
    price $231,499 Price Change 48 DOM
15. 2026-06-02
    pricedays on market $230,999 Price Change 48 DOM
16. 2026-06-01
    days on market $230,499 Price Change 47 DOM
17. 2026-05-31
    days on market $230,499 Price Change 46 DOM
18. 2026-05-30
    days on market $230,499 Price Change 45 DOM
19. 2026-05-16
    price $231,499 581-char remark

    Show marketing remark (581 chars)

    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 July 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.

20. 2026-05-15
    price $231,499 380-char remark

    Show marketing remark (380 chars)

    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.

21. 2026-05-12
    price $230,999 581-char remark

    Show marketing remark (581 chars)

    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 July 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.

22. 2026-05-10
    price $230,999 380-char remark

    Show marketing remark (380 chars)

    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.

23. 2026-05-06
    price $230,499 581-char remark

    Show marketing remark (581 chars)

    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 July 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.

24. 2026-05-05
    price $230,499 380-char remark

    Show marketing remark (581 chars)

    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 July 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.

25. 2026-05-05
    price $254,499 581-char remark

    Show marketing remark (581 chars)

    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 July 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.

26. 2026-05-04
    listed $254,499 Active 380-char remark

    Show marketing remark (380 chars)

    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.

27. 2026-04-15
    listed $253,999 New 581-char remark

    Show marketing remark (581 chars)

    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 July 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.

ⓘ 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: $24,198
• − Mortgage interest: −$13,038
• − Property taxes: −$3,491
• − Insurance: −$1,164
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − Depreciation: −$6,771
• Taxable loss: −$4,137
• Est. tax savings @ 24.0%: +$993
• After-tax cash flow: $808/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 · 6 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including landscaping and exterior painting, to improve its condition and value.

Repairs flagged

• Major Landscaping — Overgrown vegetation and lack of landscaping
• Major Exterior painting — Paint appears faded and uneven

Value-add opportunities

• Both Landscaping and exterior painting — Enhances curb appeal and property value
• Resale Kitchen renovation — Modern kitchen is a key selling point
• Resale Bathroom updates — Fresh and functional bathroom is a selling point

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Overgrown vegetation and lack of landscaping	Major	$15,000–50,000
Exterior painting · Paint appears faded and uneven	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Landscaping and exterior painting — Enhances curb appeal and property value ↑
• Resale Kitchen renovation — Modern kitchen is a key selling point ↑
• Resale Bathroom updates — Fresh and functional bathroom is a selling point ↑

ⓘ 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

-8.9% since first listed

9 events — show timeline

• 2026-05-16 Price Changed $231,499 LERA
• 2026-05-15 Price Changed $231,499 Zillow
• 2026-05-12 Price Changed $230,999 LERA
• 2026-05-10 Price Changed $230,999 Zillow
• 2026-05-06 Price Changed $230,499 LERA
• 2026-05-05 Price Changed $230,499 Zillow
• 2026-05-05 Price Changed $254,499 LERA
• 2026-05-04 Listed $254,499 Zillow
• 2026-04-15 Listed $253,999 LERA