706 CUMMINGS ST TX 78701
| Owner | TOWN LAKE ASSOCIATES LP |
|---|---|
| Parcel ID | 0203030901 |
| Short ID | 190861 |
| Type | Real |
| Use Code | 108 Luxury Hi-Rise Apts 100+ |
| Valuation | Income |
| Improvement SF | 17,885 SF |
| Land SF | 31,375 SF |
| Acres | 0.720 |
| Year Built | 2008 |
| Legal | LOT 1-9 & LOT 10 LESS W 5FT BLK 2 OLT 72-73 DIV E BRIDGEVIEW |
| Neighborhood | 08HIR |
| Land | $20,393,750 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $20,393,750 |
| Improvement | $62,046,250 |
|---|---|
| Total Improvement | $62,046,250 |
| Market | $82,440,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $82,440,000 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $82,440,000 |
| Taxable Value | $82,440,000 |
|---|
Appreciation: Market value has risen +7756.3% from $1,049,344 (2021) to $82,440,000 (2025), a CAGR of 197.7% over 4 years. This is strong appreciation — well above typical inflation. Most of this growth came in a single year (2021→2022), 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 $1,687,122. 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 25% of market value ($20,393,750 land vs $62,046,250 improvements), about $650/SF of land. Most value sits in the improvements, so building condition, age (~18 yrs), and rent roll drive the underwriting.
Submarket Position: At $82,440,000, 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 +197.7% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $19,282,489,674 by 2030, with an estimated annual tax burden around $363,232,453. 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.
10 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| ADDL | Additional Floor | 179,860 SF | ✓ |
| 187 | PARKING GARAGE | 122,632 SF | ✓ |
| 3RD | 3rd Floor | 10,013 SF | ✓ |
| 2ND | 2nd Floor | 6,826 SF | ✓ |
| 4TH | 4th Floor | 6,818 SF | ✓ |
| 5TH | 5th Floor | 6,818 SF | ✓ |
| MISC | Miscellaneous | 6,000 SF | ✓ |
| 601 | POOL COMM'L | 1,500 SF | ✗ |
| 1ST | 1st Floor | 1,046 SF | ✓ |
| 132 | PLBG 5-FIXT AVG | 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% | $762,734.88 | $762,734.88 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $431,999.61 | $431,999.61 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $309,846.62 | $309,846.62 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $97,298.16 | $97,298.16 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $85,242.96 | $85,242.96 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $1,687,122.23 | $1,687,122.23 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $80,000,000 | $82,440,000 | -3.0% |
| Assessed Value | $80,000,000 | $82,440,000 | -3.0% |
| Land Value | $23,531,250 | $20,393,750 | +15.4% |
| Improvement Value | $56,468,750 | $62,046,250 | -9.0% |
| Taxable Value | $80,000,000 | $82,440,000 | -3.0% |
| Total Tax 2026 = estimate |
~$1,637,188
Estimated
|
~$1,687,122
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $86,535,153 | $80,000,000 | -6,535,153 (-7.6%) |
| Taxable Value | $86,535,153 | $80,000,000 | -6,535,153 (-7.6%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $80,000,000 | $23,531,250 | $56,468,750 | — | $80,000,000 | $80,000,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $82,440,000 | $20,393,750 | $62,046,250 | — | $82,440,000 | $82,440,000 | ~$1,687,122 | Partial |
| 2024 | $94,490,000 | — | — | −$92,491,412 | $1,998,588 | $— | $1,631,409 | Verified |
| 2023 | $78,600,000 | — | — | −$76,501,483 | $2,098,517 | $— | $1,495,898 | Verified |
| 2022 | $73,400,000 | — | — | −$71,301,483 | $2,098,517 | $— | $1,556,376 | Verified |
| 2021 | $1,049,344 | — | — | — | $1,049,344 | $— | $1,601,843 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +5.0% | +5.0% | ~100% | Not available | Partial |
| 2025 | -6.6% | -6.6% | ~100% | Not available | Partial |
| 2024 | -6.6% | -6.6% | ~100% | 1.8500% | Verified |
| 2023 | +14.2% | +14.2% | ~100% | 1.5800% | Verified |
| 2022 | +6.9% | +6.9% | ~100% | 1.8800% | Verified |
| 2021 | base year | — | ~100% | No billing data | Verified |
| Cumulative market value growth (earliest valid year → 2025): +6.6% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -3.0% | +1381.3% | +199.5% | +6894.8% | 2022 | -12.8% | 2025 |
| Assessment Ratio | 100.0% | 51.3% | — | 100.0% | 2021 | 2.1% | 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 |
$1,687,122 | $1,594,529 | ~$109,832,759 | $1,687,122 | 2025 | $1,495,898 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$245,438,681 | ~$245,438,681 | ~2.0139% | ~$4,942,979 | +197.7% |
| 2027 | ~$730,715,017 | ~$730,715,017 | ~1.9814% | ~$14,478,300 | +786.4% |
| 2028 | ~$2,175,469,795 | ~$2,175,469,795 | ~1.9488% | ~$42,396,415 | +2538.9% |
| 2029 | ~$6,476,764,150 | ~$6,476,764,150 | ~1.9163% | ~$124,113,648 | +7756.3% |
| 2030 | ~$19,282,489,674 | ~$19,282,489,674 | ~1.8837% | ~$363,232,453 | +23289.7% |
| 2026 | ~$243,789,881 | ~$243,789,881 | ~2.0465% | ~$4,989,123 | +195.7% |
| 2027 | ~$720,930,446 | ~$720,930,446 | ~2.0465% | ~$14,753,733 | +774.5% |
| 2028 | ~$2,131,920,761 | ~$2,131,920,761 | ~2.0465% | ~$43,629,439 | +2486.0% |
| 2029 | ~$6,304,472,441 | ~$6,304,472,441 | ~2.0465% | ~$129,020,083 | +7547.3% |
| 2030 | ~$18,643,456,877 | ~$18,643,456,877 | ~2.0465% | ~$381,535,548 | +22514.6% |
| 2026 | ~$247,087,481 | ~$247,087,481 | ~1.9977% | ~$4,935,973 | +199.7% |
| 2027 | ~$740,565,541 | ~$740,565,541 | ~1.9488% | ~$14,432,434 | +798.3% |
| 2028 | ~$2,219,607,882 | ~$2,219,607,882 | ~1.9000% | ~$42,172,922 | +2592.4% |
| 2029 | ~$6,652,563,317 | ~$6,652,563,317 | ~1.8512% | ~$123,151,853 | +7969.6% |
| 2030 | ~$19,938,926,622 | ~$19,938,926,622 | ~1.8024% | ~$359,373,481 | +24086.0% |
In 2025, this property's market value of $82,440,000 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 159× 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 | $82,440,000 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $94,490,000 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $78,600,000 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $73,400,000 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $1,049,344 | $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.