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$370,000

338 Lema Dr, Portland, TX, 78374

On MarketInfo
Just AddedInfo
Beds3 Beds
Baths2 Bath
Baths1,966 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$188.2 / sqft
Year BuiltBuilt in 1999

Property Lead Type:

Absentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Garage AvailableGarage Available
AppliancesDishwasher, Electric Cooktop
FlooringVinyl

Exterior

Exterior FeaturesStorage
Lot Size7,492 sqft

Building Information

Year Built1999
Roof Type105
Garage Spaces2

Land Information

APN1097-0005-0002-000
Lot Number2
SubdivisionNorth Shore Unit 5
Land UseResidential
Legal DescriptionNORTH SHORE UNIT 5 BLK 5 LOT 2
Census Tract010603
Assessed Land Value$72,956
Assessed Improvement Value$269,428
Assessment Year2025

About this property

Fresh, bright and move-in ready! This beautifully updated home combines soaring vaulted ceilings, an open-concept layout and an impressive list of 2025–2026 improvements. The spacious living area is anchored by a fireplace and flows easily into the dining area and kitchen, creating a comfortable space for both everyday living and entertaining. The kitchen has been refreshed with professionally installed quartz countertops (2026), white cabinetry, impact-rated replacement windows, oversized sink with filtration system and newer appliances, including dual ovens, cooktop, dishwasher and refrigerator. LifeProof waterproof luxury vinyl plank flooring runs throughout the home, complemented by new baseboards and fresh Chantilly Lace interior paint completed in 2025. The primary suite offers a spacious bath with quartz countertops, updated faucets, separate soaking tub and shower, plus generous closet storage. The guest bath has also been refreshed with a quartz countertop, new vanity, sink, faucet and hardware. One of the home's biggest updates is the complete 2026 roof replacement. The previous roofing was removed to the decking, damaged plywood replaced as needed, and the roof professionally reconstructed by a licensed and insured roofing company with a 50-year warranty. The backyard structure received a new roof as well. Step outside to a fenced backyard with a large covered patio, providing plenty of room for outdoor dining, entertaining or relaxing in the shade. A storage shed adds even more functionality. Additional recent improvements include a 2026 water heater, garage door and rails, fencing updates, HVAC condenser fan motor and matching run capacitor, along with a newer washer and dryer. With major improvements already completed, abundant natural light, generous living spaces and a backyard ready to enjoy, this home offers the updates buyers want without sacrificing character or functionality.

Investor Tools

$272,101Estimated Mortgage Balance
$72,899Estimated Equity
21% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,220 /month
Positive
Cash Flow Estimate:
$740 /month

Interested in this property?

Shawndel Kiefner

Rockport Properties

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$630/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$5,835
$342,384
2025
$72,956
$269,428
$342,384
No

Tax History

Year
Tax Paid
Assessed Value
2024
$5,835
$342,384

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Rocket Mortgage Llc
Unknown
$280,000
No
First
Jan 6, 2025
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$272,101
$72,899
21%
79%
$1,679/mo

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Portland

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