1951 WESTLAKE DR TX 78746
| Owner | EMERALD APARTMENT LIMITED |
|---|---|
| Parcel ID | 0117110237 |
| Short ID | 117320 |
| Type | Real |
| Use Code | 04 Fourplex |
| Valuation | Income |
| Improvement SF | 4,864 SF |
| Land SF | 10,703 SF |
| Acres | 0.246 |
| Year Built | 1980 |
| Legal | LOT 2 EMERALD BAY |
| Neighborhood | M5705 |
| Land | $1,060,548 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $1,060,548 |
| Improvement | $163,006 |
|---|---|
| Total Improvement | $163,006 |
| Market | $1,223,554 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $1,223,554 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $1,223,554 |
| Taxable Value | $1,223,554 |
|---|
Appreciation: Market value has risen +34.0% from $913,100 (2021) to $1,223,554 (2025), a CAGR of 7.6% over 4 years. This represents moderate, steady growth. Most of this growth came in a single year (2022→2023), 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 4 taxing entities is 1.4019% in 2025 (-0.0070% vs 2024 — rates decreased ). At the current taxable value, estimated annual taxes are $17,153. Eanes ISD is the largest single contributor, at 59.4% of the total 2025 levy.
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 ($1,060,548 land vs $163,006 improvements), about $99/SF of land. With value concentrated in the land under a ~46-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 $1,223,554, 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 +7.6% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $1,764,023 by 2030, with an estimated annual tax burden around $20,125. 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.
8 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 095 | HVAC RESIDENTIAL | 4,864 SF | ✗ |
| 2ND | 2nd Floor | 2,448 SF | ✓ |
| 1ST | 1st Floor | 2,416 SF | ✓ |
| 581 | STORAGE ATT | 1,200 SF | ✓ |
| 512 | DECK UNCOVRED | 960 SF | ✗ |
| 011 | PORCH OPEN 1ST F | 32 SF | ✗ |
| 251 | BATHROOM | 6 SF | ✓ |
| 522 | FIREPLACE | 4 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 |
|---|---|---|---|---|---|---|---|---|---|
| IEA Eanes ISD | 1.0608% | 1.0046% | 0.8880% | 0.8855% | 0.8322% | -0.0533% | $10,182.42 | $10,182.42 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $4,598.67 | $4,598.67 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $1,444.08 | $1,444.08 | Paid |
| E09 Travis County ESD # 09 | 0.0807% | 0.0726% | 0.0735% | 0.0710% | 0.0758% | +0.0048% | $927.45 | $927.45 | Paid |
| Combined Rate | 1.6107% | 1.4941% | 1.3668% | 1.4089% | 1.4019% | -0.0070% | $17,152.62 | $17,152.62 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $1,137,722 | $1,223,554 | -7.0% |
| Assessed Value | $1,137,722 | $1,223,554 | -7.0% |
| Land Value | $782,932 | $1,060,548 | -26.2% |
| Improvement Value | $354,790 | $163,006 | +117.7% |
| Taxable Value | $1,137,722 | $1,223,554 | -7.0% |
| Total Tax 2026 = estimate |
~$15,949
Estimated
|
~$17,153
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $1,137,722 | $1,137,722 | +0 (+0.0%) |
| Taxable Value | $1,137,722 | $1,137,722 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $1,137,722 | $782,932 | $354,790 | — | $1,137,722 | $1,137,722 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $1,223,554 | $1,060,548 | $163,006 | — | $1,223,554 | $1,223,554 | ~$17,153 | Partial |
| 2024 | $1,283,432 | — | — | −$323,432 | $960,000 | $— | $17,096 | Verified |
| 2023 | $1,283,432 | — | — | −$323,432 | $960,000 | $— | $17,543 | Verified |
| 2022 | $943,700 | — | — | — | $960,000 ! | $— | $19,176 | Verified |
| 2021 | $913,100 | — | — | −$373,100 | $540,000 | $— | $15,200 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -7.0% | -7.0% | ~100% | Not available | Partial |
| 2025 | +0.8% | +0.8% | ~100% | Not available | Partial |
| 2024 | -5.5% | -5.5% | ~100% | 1.4100% | Verified |
| 2023 | +0.0% | +0.0% | ~100% | 1.3700% | Verified |
| 2022 | +36.0% | +36.0% | ~100% | 1.4900% | Verified |
| 2021 | base year | — | ~100% | 1.6600% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +29.7% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -7.0% | +5.5% | +9.2% | +36.0% | 2023 | -7.0% | 2026 |
| Assessment Ratio | 100.0% | 85.1% | — | 101.7% | 2022 | 59.1% | 2021 |
| Effective Tax Rate (2025) | 1.4000% | 1.4000% | — | 1.4000% | 2025 | 1.4000% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$17,153 | $17,234 | ~$18,961 | $19,176 | 2022 | $15,200 | 2021 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$1,316,435 | ~$1,316,435 | ~1.3497% | ~$17,767 | +7.6% |
| 2027 | ~$1,416,366 | ~$1,416,366 | ~1.2975% | ~$18,377 | +15.8% |
| 2028 | ~$1,523,883 | ~$1,523,883 | ~1.2453% | ~$18,976 | +24.5% |
| 2029 | ~$1,639,562 | ~$1,639,562 | ~1.1931% | ~$19,561 | +34.0% |
| 2030 | ~$1,764,023 | ~$1,764,023 | ~1.1409% | ~$20,125 | +44.2% |
| 2026 | ~$1,291,964 | ~$1,291,964 | ~1.4019% | ~$18,112 | +5.6% |
| 2027 | ~$1,364,198 | ~$1,364,198 | ~1.4019% | ~$19,124 | +11.5% |
| 2028 | ~$1,440,471 | ~$1,440,471 | ~1.4019% | ~$20,194 | +17.7% |
| 2029 | ~$1,521,009 | ~$1,521,009 | ~1.4019% | ~$21,323 | +24.3% |
| 2030 | ~$1,606,050 | ~$1,606,050 | ~1.4019% | ~$22,515 | +31.3% |
| 2026 | ~$1,340,906 | ~$1,340,906 | ~1.3236% | ~$17,748 | +9.6% |
| 2027 | ~$1,469,513 | ~$1,469,513 | ~1.2453% | ~$18,299 | +20.1% |
| 2028 | ~$1,610,455 | ~$1,610,455 | ~1.1670% | ~$18,793 | +31.6% |
| 2029 | ~$1,764,915 | ~$1,764,915 | ~1.0887% | ~$19,214 | +44.2% |
| 2030 | ~$1,934,189 | ~$1,934,189 | ~1.0103% | ~$19,542 | +58.1% |
In 2025, this property's market value of $1,223,554 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — +135% 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 | $1,223,554 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $1,283,432 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $1,283,432 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $943,700 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $913,100 | $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.