1302 NORWALK LN TX 78703
| Owner | WEATHERFORD LAURA S & ALICE F & |
|---|---|
| Parcel ID | 0113060808 |
| Short ID | 112975 |
| Type | Real |
| Use Code | 05 Apartment 5–25 Units |
| Valuation | Income |
| Improvement SF | 4,200 SF |
| Land SF | 12,122 SF |
| Acres | 0.278 |
| Year Built | 1963 |
| Legal | LOT 2A BLK 8 RESUB PT OF LT 1 & 2 WESTFIELD A |
| Neighborhood | 05CEN |
| Land | $1,090,980 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $1,090,980 |
| Improvement | $163,700 |
|---|---|
| Total Improvement | $163,700 |
| Market | $1,254,680 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $1,254,680 |
| Value Limitation Adjustment (−) (homestead cap) | −$35,881 |
| Net Appraised (assessed) | $1,218,799 |
| Exemptions (−) (HS,OV65) | −$181,062 |
|---|---|
| Taxable Value | $1,037,737 |
Appreciation: Market value has risen +27.5% from $984,270 (2021) to $1,254,680 (2025), a CAGR of 6.3% over 4 years. This represents moderate, steady growth. Most of this growth came in a single year (2023→2024), not a steady climb — worth checking what drove that reappraisal rather than assuming a smooth trend. Over the same span, the median Multi-Family parcel countywide rose +37.9%, so this parcel has lagged the broader multi-family market over the same period.
Tax Burden: The combined rate across 5 taxing entities is 2.0465% in 2025 (+0.0647% vs 2024 — rates increased ). At the current taxable value, estimated annual taxes are $21,237. Austin ISD is the largest single contributor, at 45.1% of the total 2025 levy.
Assessment Gap: Assessed value ($1,218,799) is $35,881 below market value, suggesting potential for an upward assessment in future years.
Asset Class: Multi-family residential. This is valued using the income approach, so changes in rent roll or occupancy move the appraisal more directly than they would for a cost-approach property.
Value Composition: Land carries 87% of market value ($1,090,980 land vs $163,700 improvements), about $90/SF of land. With value concentrated in the land under a ~63-year-old structure, this reads as a land-dominated asset — the classic higher-and-best-use / redevelopment signal. Underwrite the dirt, not the building.
Submarket Position: At $1,254,680, this parcel sits in the top quartile (≥75th percentile) of Multi-Family property in Travis County — county median $519,778 (P25 $438,669 / P75 $749,859, n=12,584). Multi-Family here is the broad TCAD category — every multi-family property countywide, any size or use — not a use-code-specific peer group. See the Peer Set and the Where This Property Stands benchmark below, which narrows to this property's actual use code, for parcel-level comparables.
Forward Outlook: Holding the +6.3% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $1,699,442 by 2030, with an estimated annual tax burden around $32,013. Estimated Forward figures are model projections, not certified — see the 6-Year Projection section for the low/base/high bands.
No delinquent taxes on record.
5 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 4,200 SF | ✓ |
| 591 | MASONRY TRIM SF | 600 SF | ✗ |
| 132 | PLBG 5-FIXT AVG | 1 SF | ✓ |
| 249 | OBS OVEN/BURN FV | 1 SF | ✓ |
| 539 | FENCE FV | 1 SF | ✗ |
No large value jumps, delinquencies, or data anomalies found for this parcel.
| Entity | 2021 Rate | 2022 Rate | 2023 Rate | 2024 Rate | 2025 Rate | YoY (2024→25) | Amt Due | Amt Paid | Balance |
|---|---|---|---|---|---|---|---|---|---|
| IAU Austin ISD | 1.0617% | 0.9966% | 0.8595% | 0.9505% | 0.9252% | -0.0253% | $9,525.76 | $9,525.76 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $5,395.22 | $5,395.22 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $3,900.28 | $3,900.28 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $1,215.15 | $1,215.15 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $1,064.60 | $1,064.60 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $21,101.01 | $21,101.01 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $1,209,870 | $1,254,680 | -3.6% |
| Assessed Value | $1,209,870 | $1,218,799 | -0.7% |
| Land Value | $1,090,980 | $1,090,980 | +0.0% |
| Improvement Value | $118,890 | $163,700 | -27.4% |
| Taxable Value | $1,024,121 | $1,037,737 | -1.3% |
| Exemptions | HS,OV65 | HS,OV65 | |
| Total Tax 2026 = estimate |
~$20,958
Estimated
|
~$21,101
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $1,209,870 | $1,209,870 | +0 (+0.0%) |
| Taxable Value | $1,026,170 | $1,024,121 | -2,049 (-0.2%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $1,209,870 | $1,090,980 | $118,890 | — | $1,209,870 | $1,024,121 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $1,254,680 | $1,090,980 | $163,700 | −$35,881 | $1,218,799 | $1,037,737 | ~$21,101 | Partial |
| 2024 | $1,178,579 | — | — | −$148,579 | $1,030,000 | $— | $17,157 | Verified |
| 2023 | $917,700 | — | — | — | $1,090,980 ! | $— | $17,999 | Verified |
| 2022 | $917,700 | — | — | −$154,014 | $763,686 | $— | $15,974 | Verified |
| 2021 | $984,270 | — | — | −$220,584 | $763,686 | $— | $17,788 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -3.6% | -0.7% | ~100% | Not available | Partial |
| 2025 | +21.8% | +18.3% | 97.1% | Not available | Partial |
| 2024 | -12.6% | -10.4% | ~100% | 1.6700% | Verified |
| 2023 | +28.4% | +25.3% | 97.6% | 1.5300% | Verified |
| 2022 | +0.0% | +0.0% | ~100% | 1.7400% | Verified |
| 2021 | base year | — | ~100% | 1.8100% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +36.7% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -3.6% | +4.9% | +7.0% | +28.4% | 2024 | -6.8% | 2022 |
| Assessment Ratio | 100.0% | 94.0% | — | 118.9% | 2023 | 77.6% | 2021 |
| Effective Tax Rate (2025) | 1.6800% | 1.6800% | — | 1.6800% | 2025 | 1.6800% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$21,101 | $18,004 | ~$29,383 | $21,101 | 2025 | $15,974 | 2022 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$1,333,177 | ~$1,333,177 | ~2.0139% | ~$26,849 | +6.3% |
| 2027 | ~$1,416,584 | ~$1,416,584 | ~1.9814% | ~$28,068 | +12.9% |
| 2028 | ~$1,505,210 | ~$1,505,210 | ~1.9488% | ~$29,334 | +20.0% |
| 2029 | ~$1,599,380 | ~$1,599,380 | ~1.9163% | ~$30,649 | +27.5% |
| 2030 | ~$1,699,442 | ~$1,699,442 | ~1.8837% | ~$32,013 | +35.4% |
| 2026 | ~$1,308,083 | ~$1,308,083 | ~2.0465% | ~$26,770 | +4.3% |
| 2027 | ~$1,363,759 | ~$1,363,759 | ~2.0465% | ~$27,909 | +8.7% |
| 2028 | ~$1,421,804 | ~$1,421,804 | ~2.0465% | ~$29,097 | +13.3% |
| 2029 | ~$1,482,321 | ~$1,482,321 | ~2.0465% | ~$30,335 | +18.1% |
| 2030 | ~$1,545,413 | ~$1,545,413 | ~2.0465% | ~$31,627 | +23.2% |
| 2026 | ~$1,358,270 | ~$1,340,679 | ~1.9977% | ~$26,782 | +8.3% |
| 2027 | ~$1,470,413 | ~$1,470,413 | ~1.9488% | ~$28,656 | +17.2% |
| 2028 | ~$1,591,815 | ~$1,591,815 | ~1.9000% | ~$30,245 | +26.9% |
| 2029 | ~$1,723,240 | ~$1,723,240 | ~1.8512% | ~$31,901 | +37.3% |
| 2030 | ~$1,865,515 | ~$1,865,515 | ~1.8024% | ~$33,624 | +48.7% |
In 2025, this property's market value of $1,254,680 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — +141% above the county median of $519,778. Multi-Family here is the broad TCAD category — every multi-family property countywide, any size or use — not a use-code-specific peer group. Use the Use Code filter above to narrow to this property's actual type.
| Year | This Property | Bottom 25% | Median | Top 25% | Position | Group YoY |
|---|---|---|---|---|---|---|
| 2025 | $1,254,680 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $1,178,579 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $917,700 | $503,905 | $617,035 | $919,932 | ↑ Above median | +0.9% |
| 2022 | $917,700 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $984,270 | $300,453 | $376,850 | $539,896 | ↑ Top 25% | base yr |
Estimate only. The appraisal district sets value as of Jan 1 (not at sale price). A sale is strong evidence of market value and is typically reflected in the next Jan 1 valuation. Taxing units set rates annually. Modeled from government data — not a legal or tax opinion.