2128 Artemis Dr · Portland, TX 78374

$267,999

3 bd · 2.0 ba · 1,651 sqft · SingleFamily · 29 Days on market

Built 2026 4,791 sqft lot $162/sqft · 12% below area Est $305k · 12% under

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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).

• ARV discount +12.9/15.0
• Cash flow +9.1/30.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

The Carmel- This new single-level home provides ample space to live and grow. An open-concept floorplan combines the kitchen, dining area and family room, with convenient access to a covered patio for seamless entertaining and relaxation. Two secondary bedrooms can be found off the foyer, and the luxe owner's suite is tucked away into a private corner at the back of the home, offering direct access to an en-suite bathroom and roomy walk-in closet. 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

• Luxe owner's suite
• Walk-in closet
• Covered patio

Tags

• OPEN-CONCEPT FLOORPLAN
• COVERED PATIO
• LUXE OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET

Property features AI

Finance

• Financial info: Down payment resources available
• HOA & community: Subdivision: David Estates

Exterior

• Parking: 2-car garage
• Utilities: City water; City sewer; Garbage service by Republic; Electric service by AEP; Gas service by Centerpoint
• Home design: New construction by Lennar; Cement fiber exterior; Slab foundation; Composition roof
• Construction: Built new (approximate age 0)
• Exterior features: Privacy fence

Interior

• Kitchen: Island kitchen; Breakfast bar; Walk-in pantry; Stove/Range; Dishwasher
• Bedrooms: Master bedroom on lower level with walk-in closet and full bath; Bedroom 2: 10 x 12; Bedroom 3: 11 x 12; Master bedroom dimensions: 12 x 14
• Flooring: Carpeting; Vinyl flooring
• Bathrooms: 2 full bathrooms; Master bath is shower only (dimensions 10 x 7)
• Heating & cooling: Central heating; Electric and natural gas heat; Central air conditioning
• Interior features: Open floor plan with 1 living area; Island kitchen with breakfast bar; Walk-in pantry; Utility room inside; Cable TV available; Laundry on main level; Walk-in closets; Washer and dryer connections; Stove/Range; Dishwasher
• Laundry & utility: Washer connection; Dryer connection; Laundry 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 $268k.

Deal economics

• At list price, monthly cash flow is $-205 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (22.2% below list).
• Recommended offer: $209k (22.2% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 4.2% in Portland — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $8k 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 29 days — a 2% lower offer ($264k) is reasonable based on typical stale-listing flexibility.

Recommended offer $208,523 (22.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.78% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.27%
• DSCR: 0.85
• GRM: 10.7

CMA / ARV

• ARV (median comp): $304,844
• List price: $267,999
• Delta: -12.09%
• 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
2131 Artemis Dr	0.03mi	3/2.0	1,634 (-1%)	1mo	$271,999	$166	96
2137 Artemis Dr	0.06mi	3/2.0	1,634 (-1%)	4mo	$300,999	$184	92
2103 Fury	0.18mi	3/2.0	1,595 (-3%)	2mo	$319,990	$201	85
1118 Demeter Dr	0.23mi	4/2.0 (+1)	1,668 (+1%)	3mo	$262,000	$157	80
2107 Fury	0.16mi	4/2.0 (+1)	1,746 (+6%)	2mo	$324,990	$186	76
1111 Poseidon Dr	0.15mi	3/2.0	1,474 (-11%)	1mo	$236,999	$161	75
1815 Clapper Rail Dr	0.51mi	3/2.0	1,795 (+9%)	3mo	$384,900	$214	59
1818 Spoonbill Dr	0.48mi	3/2.0	1,817 (+10%)	4mo	$380,000	$209	57
1812 White Ibis Dr	0.53mi	3/2.0	1,817 (+10%)	2mo	$379,900	$209	57
1816 Clapper Rail Dr	0.50mi	3/2.0	1,896 (+15%)	1mo	$399,900	$211	51
2020 Oak Ridge Dr	0.75mi	3/2.0	1,852 (+12%)	2mo	$250,000	$135	44
2207 Tallow Dr	0.72mi	4/2.0 (+1)	1,853 (+12%)	2mo	$329,900	$178	40

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: -25.2%
• Equity multiple: 0.17×
• Total profit: $-62,547
• Equity at exit: $39,960

10-year hold

• IRR: -34.1%
• Equity multiple: -0.26×
• Total profit: $-94,745
• Equity at exit: $23,172

Cash invested: $75,040 (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: 10.7×

Monthly cashflow live

• Estimated rent: $2,085 high
• Mortgage (P&I): −$1,405
• Tax est. 1.5%: −$335 /mo · $4,020/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $-205

Break-even live

Break-even rent $2,344

Max offer price $238,373

Occupancy floor —

Sensitivity live

Price	-10% $-20	-5% $-112	+0% $-205	+5% $-297	+10% $-390
Rent	-10% $-369	-5% $-287	+0% $-205	+5% $-122	+10% $-40
Rate	-1.0pp $-70	-0.5pp $-137	base $-205	+0.5pp $-274	+1.0pp $-345

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: $67,000
• Closing costs: $8,040
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	0.21mi
2012 Cottonwood Dr Portland, TX	4.0	2.0	1619	$2,350	$1.45	23d	1	0.56mi
2112 Westwood Dr Portland, TX	4.0	3.5	1863	$2,350	$1.26	15d	1	0.61mi
6736 Buddy Ganem Dr Portland, TX	3.0	2.0	1216	$1,595	$1.31	23d	1	0.69mi
1801 Atascosa Dr Portland, TX	3.0	2.0	1594	$1,600	$1.00	15d	1	0.82mi
1601 Moore Ave Portland, TX	2.0–3.0	2.0–2.5	1295	$1,899	$1.47	15d	18	0.93mi
201 Walker Ave Portland, TX	2.0	1.5	1195	$1,350	$1.13	15d	1	1.00mi
1719 Austin St Portland, TX	3.0	1.5	1127	$1,550	$1.38	46d	1	1.06mi
1506 Briar St Portland, TX	3.0	2.0	1803	$2,300	$1.28	45d	1	1.19mi
1461 Moore Ave Portland, TX	2.0	2.5	1313	$1,750	$1.33	15d	1	1.25mi
2201 Timberline Dr Unit Na Portland, TX	4.0	2.0	1484	$2,200	$1.48	15d	1	1.26mi
1825 Billy G Webb Portland, TX	1.0–3.0	1.0–2.0	1009	$1,983	$1.97	15d	32	1.41mi

Listing history 8 events

1. 2026-05-16
   status Pending 639-char remark
2. 2026-05-08
   price $267,999 639-char remark
3. 2026-05-06
   price $265,999 639-char remark
4. 2026-04-30
   price $261,999 639-char remark
5. 2026-04-28
   price $267,999 639-char remark
6. 2026-04-22
   price $269,999 639-char remark
7. 2026-04-21
   price $273,999 639-char remark
8. 2026-04-17
   listed $269,999 New 639-char remark

ⓘ 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: $25,023
• − Mortgage interest: −$15,012
• − Property taxes: −$4,020
• − Insurance: −$1,340
• − Repairs & maintenance: −$2,002
• − Management: −$2,002
• − Depreciation: −$7,796
• Taxable loss: −$7,149
• Est. tax savings @ 24.0%: +$1,716
• After-tax cash flow: $-741/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

-0.7% since first listed

8 events — show timeline

• 2026-05-16 Pending — LERA
• 2026-05-08 Price Changed $267,999 LERA
• 2026-05-06 Price Changed $265,999 LERA
• 2026-04-30 Price Changed $261,999 LERA
• 2026-04-28 Price Changed $267,999 LERA
• 2026-04-22 Price Changed $269,999 LERA
• 2026-04-21 Price Changed $273,999 LERA
• 2026-04-17 Listed $269,999 LERA