51 RAINEY ST TX 78701
| Owner | SKYHOUSE AUSTIN LLC |
|---|---|
| Parcel ID | 0203030908 |
| Short ID | 190868 |
| Type | Real |
| Use Code | 108 Luxury Hi-Rise Apts 100+ |
| Valuation | Income |
| Improvement SF | 58,861 SF |
| Land SF | 66,696 SF |
| Acres | 1.531 |
| Year Built | 2014 |
| Legal | LOT 11-15 BLK 2 LESS W 5FT OLT 72-73 DIV E BRIDGEVIEW & 1.0199 AC OF BLK 2 OLT 72-73 DIVISION E & +7344 SQ FT OF RAINEY ST ALLEY DRISKILL & RAINEY SUBD |
| Neighborhood | 08HIR |
| Land | $38,874,376 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $38,874,376 |
| Improvement | $79,125,624 |
|---|---|
| Total Improvement | $79,125,624 |
| Market | $118,000,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $118,000,000 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $118,000,000 |
| Taxable Value | $118,000,000 |
|---|
Appreciation: Market value has risen +2458.5% from $4,612,082 (2021) to $118,000,000 (2025), a CAGR of 124.9% 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 $2,414,852. 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 33% of market value ($38,874,376 land vs $79,125,624 improvements), about $583/SF of land. Most value sits in the improvements, so building condition, age (~12 yrs), and rent roll drive the underwriting.
Submarket Position: At $118,000,000, 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 +124.9% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $6,789,897,859 by 2030, with an estimated annual tax burden around $3,579,868. 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 |
|---|---|---|---|
| SO | Sketch Only | 517,047 SF | ✗ |
| ADDL | Additional Floor | 181,603 SF | ✓ |
| 187 | PARKING GARAGE | 155,036 SF | ✓ |
| 1ST | 1st Floor | 36,309 SF | ✓ |
| 2ND | 2nd Floor | 13,838 SF | ✓ |
| 4TH | 4th Floor | 13,838 SF | ✓ |
| 5TH | 5th Floor | 13,838 SF | ✓ |
| 3RD | 3rd Floor | 8,714 SF | ✓ |
| MISC | Miscellaneous | 7,003 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% | $1,045,476.00 | $1,045,476.00 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $592,139.21 | $592,139.21 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $424,704.85 | $424,704.85 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $133,365.99 | $133,365.99 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $116,842.00 | $116,842.00 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $2,312,528.05 | $2,312,528.05 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $111,360,000 | $118,000,000 | -5.6% |
| Assessed Value | $111,360,000 | $118,000,000 | -5.6% |
| Land Value | $50,022,015 | $38,874,376 | +28.7% |
| Improvement Value | $61,337,985 | $79,125,624 | -22.5% |
| Taxable Value | $111,360,000 | $118,000,000 | -5.6% |
| Total Tax 2026 = estimate |
~$2,278,966
Estimated
|
~$2,312,528
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $111,360,000 | $111,360,000 | +0 (+0.0%) |
| Taxable Value | $111,360,000 | $111,360,000 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $111,360,000 | $50,022,015 | $61,337,985 | — | $111,360,000 | $111,360,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $118,000,000 | $38,874,376 | $79,125,624 | — | $118,000,000 | $118,000,000 | ~$2,312,528 | Partial |
| 2024 | $137,000,000 | — | — | −$136,999,999 | $1 | $— | $2,481,826 | Verified |
| 2023 | $123,739,264 | — | — | −$123,739,263 | $1 | $— | $2,484,746 | Verified |
| 2022 | $112,850,000 | — | — | −$112,849,999 | $1 | $— | $2,443,755 | Verified |
| 2021 | $4,612,082 | — | — | — | — | $— | $2,456,382 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -5.6% | -5.6% | ~100% | Not available | Partial |
| 2025 | -8.9% | -8.9% | ~100% | Not available | Partial |
| 2024 | -9.5% | -9.5% | ~100% | 1.9200% | Verified |
| 2023 | +15.7% | +15.7% | ~100% | 1.7400% | Verified |
| 2022 | +9.6% | +9.6% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 53.2600% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +4.6% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -5.6% | +469.5% | +127.6% | +2346.8% | 2022 | -13.9% | 2025 |
| Assessment Ratio | 100.0% | 40.0% | — | 100.0% | 2025 | 0.0% | 2022 |
| Effective Tax Rate (2025) | 1.9600% | 1.9600% | — | 1.9600% | 2025 | 1.9600% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$2,312,528 | $2,435,848 | ~$3,078,890 | $2,484,746 | 2023 | $2,312,528 | 2025 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$265,386,150 | ~$129,800,000 | ~2.0139% | ~$2,614,090 | +124.9% |
| 2027 | ~$596,862,785 | ~$142,780,000 | ~1.9814% | ~$2,829,026 | +405.8% |
| 2028 | ~$1,342,365,394 | ~$157,058,000 | ~1.9488% | ~$3,060,808 | +1037.6% |
| 2029 | ~$3,019,026,982 | ~$172,763,800 | ~1.9163% | ~$3,310,657 | +2458.5% |
| 2030 | ~$6,789,897,859 | ~$190,040,180 | ~1.8837% | ~$3,579,868 | +5654.2% |
| 2026 | ~$263,026,150 | ~$129,800,000 | ~2.0465% | ~$2,656,338 | +122.9% |
| 2027 | ~$586,294,539 | ~$142,780,000 | ~2.0465% | ~$2,921,971 | +396.9% |
| 2028 | ~$1,306,871,147 | ~$157,058,000 | ~2.0465% | ~$3,214,168 | +1007.5% |
| 2029 | ~$2,913,061,747 | ~$172,763,800 | ~2.0465% | ~$3,535,585 | +2368.7% |
| 2030 | ~$6,493,317,085 | ~$190,040,180 | ~2.0465% | ~$3,889,144 | +5402.8% |
| 2026 | ~$267,746,150 | ~$129,800,000 | ~1.9977% | ~$2,592,966 | +126.9% |
| 2027 | ~$607,525,431 | ~$142,780,000 | ~1.9488% | ~$2,782,553 | +414.9% |
| 2028 | ~$1,378,496,569 | ~$157,058,000 | ~1.9000% | ~$2,984,128 | +1068.2% |
| 2029 | ~$3,127,857,195 | ~$172,763,800 | ~1.8512% | ~$3,198,193 | +2550.7% |
| 2030 | ~$7,097,217,981 | ~$190,040,180 | ~1.8024% | ~$3,425,230 | +5914.6% |
In 2025, this property's market value of $118,000,000 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 227× 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 | $118,000,000 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $137,000,000 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $123,739,264 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $112,850,000 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $4,612,082 | $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.