1007 S CONGRESS AVE TX 78704
| Owner | MUSIC LANE 1007 OWNER LP |
|---|---|
| Parcel ID | 0201011504 |
| Short ID | 932408 |
| Type | Real |
| Use Code | 08 Apartment 100+ Units |
| Valuation | Income |
| Improvement SF | 214,721 SF |
| Land SF | 179,050 SF |
| Acres | 4.110 |
| Year Built | 2000 |
| Legal | UNT RESIDENTIAL UNIT CITYVIEW CONDOMINIUMS PLUS 61.96 % INT IN COM AREA |
| Neighborhood | 08CBD |
| Land | $22,381,271 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $22,381,271 |
| Improvement | $39,118,729 |
|---|---|
| Total Improvement | $39,118,729 |
| Market | $61,500,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $61,500,000 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $61,500,000 |
| Taxable Value | $61,500,000 |
|---|
Appreciation: Market value has risen +174.8% from $22,381,272 (2021) to $61,500,000 (2025), a CAGR of 28.8% over 4 years. This is strong appreciation — well above typical inflation. Most of this growth came in a single year (2021→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 outpaced 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 $1,258,588. Austin ISD is the largest single contributor, at 45.2% 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 36% of market value ($22,381,271 land vs $39,118,729 improvements), about $125/SF of land. Most value sits in the improvements, so building condition, age (~26 yrs), and rent roll drive the underwriting.
Submarket Position: At $61,500,000, 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 +28.8% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $217,577,035 by 2030, with an estimated annual tax burden around $1,865,778. 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.
9 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 214,721 SF | ✓ |
| 187 | PARKING GARAGE | 120,000 SF | ✓ |
| 551 | PAVED AREA | 50,000 SF | ✗ |
| 601 | POOL COMM'L | 2,000 SF | ✗ |
| 132 | PLBG 5-FIXT AVG | 1 SF | ✓ |
| 142 | BATHTUB AVG | 1 SF | ✓ |
| 152 | COMMODE AVG | 1 SF | ✓ |
| 162 | LAVATORY AVG | 1 SF | ✓ |
| 276 | ELEVATOR COM PAS | 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% | $568,998.00 | $568,998.00 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $322,270.46 | $322,270.46 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $231,144.68 | $231,144.68 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $72,584.15 | $72,584.15 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $63,591.00 | $63,591.00 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $1,258,588.29 | $1,258,588.29 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $58,900,000 | $61,500,000 | -4.2% |
| Assessed Value | $58,900,000 | $61,500,000 | -4.2% |
| Land Value | $22,381,271 | $22,381,271 | +0.0% |
| Improvement Value | $36,518,729 | $39,118,729 | -6.6% |
| Taxable Value | $58,900,000 | $61,500,000 | -4.2% |
| Total Tax 2026 = estimate |
~$1,205,380
Estimated
|
~$1,258,588
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $63,860,497 | $58,900,000 | -4,960,497 (-7.8%) |
| Taxable Value | $63,860,497 | $58,900,000 | -4,960,497 (-7.8%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $58,900,000 | $22,381,271 | $36,518,729 | — | $58,900,000 | $58,900,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $61,500,000 | $22,381,271 | $39,118,729 | — | $61,500,000 | $61,500,000 | ~$1,258,588 | Partial |
| 2024 | $74,500,000 | — | — | −$52,118,729 | $22,381,271 | $— | $1,266,004 | Verified |
| 2023 | $71,000,000 | — | — | −$48,618,729 | $22,381,271 | $— | $1,353,233 | Verified |
| 2022 | $— | — | — | — | $22,381,271 | $— | $1,413,250 | Verified |
| 2021 | $22,381,272 | — | — | — | $22,381,272 | $— | $1,409,174 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +3.8% | +3.8% | ~100% | Not available | Partial |
| 2025 | -7.5% | -7.5% | ~100% | Not available | Partial |
| 2024 | -16.8% | -16.8% | ~100% | 1.9000% | Verified |
| 2023 | -2.8% | -2.8% | ~100% | 1.6900% | Verified |
| 2022 | +21.8% | +21.8% | ~100% | 1.7200% | Verified |
| 2021 | base year | — | ~100% | 6.3000% | Verified |
| Cumulative market value growth (earliest valid year → 2025): -8.9% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -4.2% | +50.1% | +29.9% | +217.2% | 2023 | -17.4% | 2025 |
| Assessment Ratio | 100.0% | 72.3% | — | 100.0% | 2021 | 30.0% | 2024 |
| Effective Tax Rate (2025) | 2.0500% | 2.0500% | — | 2.0500% | 2025 | 2.0500% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$1,258,588 | $1,321,750 | ~$1,604,676 | $1,409,174 | 2021 | $1,258,588 | 2025 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$79,181,314 | ~$67,650,000 | ~2.0139% | ~$1,362,428 | +28.8% |
| 2027 | ~$101,946,024 | ~$74,415,000 | ~1.9814% | ~$1,474,450 | +65.8% |
| 2028 | ~$131,255,611 | ~$81,856,500 | ~1.9488% | ~$1,595,252 | +113.4% |
| 2029 | ~$168,991,736 | ~$90,042,150 | ~1.9163% | ~$1,725,470 | +174.8% |
| 2030 | ~$217,577,035 | ~$99,046,365 | ~1.8837% | ~$1,865,778 | +253.8% |
| 2026 | ~$77,951,314 | ~$67,650,000 | ~2.0465% | ~$1,384,447 | +26.8% |
| 2027 | ~$98,803,371 | ~$74,415,000 | ~2.0465% | ~$1,522,892 | +60.7% |
| 2028 | ~$125,233,375 | ~$81,856,500 | ~2.0465% | ~$1,675,181 | +103.6% |
| 2029 | ~$158,733,433 | ~$90,042,150 | ~2.0465% | ~$1,842,699 | +158.1% |
| 2030 | ~$201,194,791 | ~$99,046,365 | ~2.0465% | ~$2,026,969 | +227.1% |
| 2026 | ~$80,411,314 | ~$67,650,000 | ~1.9977% | ~$1,351,419 | +30.8% |
| 2027 | ~$105,137,876 | ~$74,415,000 | ~1.9488% | ~$1,450,229 | +71.0% |
| 2028 | ~$137,467,882 | ~$81,856,500 | ~1.9000% | ~$1,555,287 | +123.5% |
| 2029 | ~$179,739,399 | ~$90,042,150 | ~1.8512% | ~$1,666,855 | +192.3% |
| 2030 | ~$235,009,450 | ~$99,046,365 | ~1.8024% | ~$1,785,183 | +282.1% |
In 2025, this property's market value of $61,500,000 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 118× 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 | $61,500,000 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $74,500,000 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $71,000,000 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | — | $506,618 | $615,058 | $906,429 | — | +39.1% |
| 2021 | $22,381,272 | $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.