405 NECHES ST 2 TX 78701
| Owner | GREATER AUSTIN CHAMBER OF COMMERCE |
|---|---|
| Parcel ID | 0204042005 |
| Short ID | 525249 |
| Type | Real |
| Use Code | 52 Office Medium (10–35,000 SF) |
| Valuation | Income |
| Improvement SF | 18,785 SF |
| Land SF | 1,760 SF |
| Acres | 0.040 |
| Year Built | 2003 |
| Legal | 7% OF UNT RETAIL (AKA UNIT 2) NECHES HOTEL CONDOMINIUMS AMENDED PLUS 2.3100% INT IN COM AREA |
| Neighborhood | 52CBD |
| Land | $2,401,936 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $2,401,936 |
| Improvement | $6,467,074 |
|---|---|
| Total Improvement | $6,467,074 |
| Market | $8,869,010 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $8,869,010 |
| Value Limitation Adjustment (−) (homestead cap) | −$8,248,179 |
| Net Appraised (assessed) | $620,831 |
| Taxable Value | $620,831 |
|---|
Appreciation: Market value has risen +2409.4% from $353,437 (2021) to $8,869,010 (2025), a CAGR of 123.8% over 4 years. This is strong appreciation — well above typical inflation. Growth has been fairly evenly spread across these years rather than concentrated in one jump. Over the same span, the median Commercial parcel countywide rose +24.1%, so this parcel has outpaced the broader commercial 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 $12,705. Austin ISD is the largest single contributor, at 44.8% of the total 2025 levy.
Assessment Gap: Assessed value ($620,831) is $8,248,179 below market value, suggesting potential for an upward assessment in future years.
Asset Class: Commercial. No homestead exemptions apply — full market value is taxable. 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 27% of market value ($2,401,936 land vs $6,467,074 improvements), about $1,365/SF of land. Most value sits in the improvements, so building condition, age (~23 yrs), and rent roll drive the underwriting.
Submarket Position: At $8,869,010, this parcel sits in the top quartile (≥75th percentile) of Commercial property in Travis County — county median $1,417,484 (P25 $649,268 / P75 $3,347,260, n=13,608). Commercial here is the broad TCAD category — every commercial 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 +123.8% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $498,114,358 by 2030, with an estimated annual tax burden around $18,835. 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.
1 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 18,785 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% | $5,743.93 | $5,743.93 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $3,253.26 | $3,253.26 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $2,333.36 | $2,333.36 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $732.72 | $732.72 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $641.94 | $641.94 | Paid |
| P2U | — | — | — | — | — | — | $111.77 | $111.77 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $12,816.98 | $12,816.98 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $8,862,918 | $8,869,010 | -0.1% |
| Assessed Value | $620,404 | $620,831 | -0.1% |
| Land Value | $2,111,592 | $2,401,936 | -12.1% |
| Improvement Value | $6,751,326 | $6,467,074 | +4.4% |
| Taxable Value | $620,404 | $620,831 | -0.1% |
| HS Cap Loss | -$8,242,514 | — | |
| Total Tax 2026 = estimate |
~$12,696
Estimated
|
~$12,817
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $8,862,918 | $8,862,918 | +0 (+0.0%) |
| Taxable Value | $620,404 | $620,404 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $8,862,918 | $2,111,592 | $6,751,326 | −$8,242,514 | $620,404 | $620,404 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $8,869,010 | $2,401,936 | $6,467,074 | −$8,248,179 | $620,831 | $620,831 | ~$12,817 | Partial |
| 2024 | $8,814,711 | — | — | −$8,646,575 | $168,136 | $— | $12,332 | Verified |
| 2023 | $5,161,396 | — | — | −$4,993,260 | $168,136 | $— | $11,272 | Verified |
| 2022 | $— | — | — | — | $24,635 | $— | $7,135 | Verified |
| 2021 | $353,437 | — | — | −$328,802 | $24,635 | $— | $7,944 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -0.1% | -0.1% | ~100% | Not available | Partial |
| 2025 | +0.7% | +1337.9% | ~100% | Not available | Partial |
| 2024 | -0.0% | -0.0% | 7.0% | 0.1400% | Verified |
| 2023 | +70.8% | +70.8% | 7.0% | 0.1300% | Verified |
| 2022 | +6.4% | -92.5% | 7.0% | 0.1400% | Verified |
| 2021 | base year | — | ~100% | 2.2500% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +82.9% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -0.1% | +357.9% | +123.8% | +1360.3% | 2023 | -0.1% | 2026 |
| Assessment Ratio | 7.0% | 5.2% | — | 7.0% | 2021 | 1.9% | 2024 |
| Effective Tax Rate (2025) | 0.1400% | 0.1400% | — | 0.1400% | 2025 | 0.1400% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$12,817 | $11,091 | ~$16,199 | $12,817 | 2025 | $7,944 | 2021 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$19,850,248 | ~$682,914 | ~2.0139% | ~$13,753 | +123.8% |
| 2027 | ~$44,427,995 | ~$751,206 | ~1.9814% | ~$14,884 | +400.9% |
| 2028 | ~$99,436,881 | ~$826,326 | ~1.9488% | ~$16,104 | +1021.2% |
| 2029 | ~$222,555,472 | ~$908,959 | ~1.9163% | ~$17,418 | +2409.4% |
| 2030 | ~$498,114,358 | ~$999,855 | ~1.8837% | ~$18,835 | +5516.3% |
| 2026 | ~$19,672,867 | ~$682,914 | ~2.0465% | ~$13,976 | +121.8% |
| 2027 | ~$43,637,532 | ~$751,206 | ~2.0465% | ~$15,373 | +392.0% |
| 2028 | ~$96,794,951 | ~$826,326 | ~2.0465% | ~$16,911 | +991.4% |
| 2029 | ~$214,706,515 | ~$908,959 | ~2.0465% | ~$18,602 | +2320.9% |
| 2030 | ~$476,253,020 | ~$999,855 | ~2.0465% | ~$20,462 | +5269.9% |
| 2026 | ~$20,027,628 | ~$682,914 | ~1.9977% | ~$13,642 | +125.8% |
| 2027 | ~$45,225,552 | ~$751,206 | ~1.9488% | ~$14,640 | +409.9% |
| 2028 | ~$102,126,452 | ~$826,326 | ~1.9000% | ~$15,700 | +1051.5% |
| 2029 | ~$230,617,686 | ~$908,959 | ~1.8512% | ~$16,827 | +2500.3% |
| 2030 | ~$520,771,223 | ~$999,855 | ~1.8024% | ~$18,021 | +5771.8% |
In 2025, this property's market value of $8,869,010 places it in the top 25% for Commercial properties in Travis County (13608 comparable) — 6× the county median of $1,417,484. Commercial here is the broad TCAD category — every commercial 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 | $8,869,010 | $649,268 | $1,417,484 | $3,347,260 | ↑ Top 25% | -0.8% |
| 2024 | $8,814,711 | $661,016 | $1,438,465 | $3,471,171 | ↑ Top 25% | +0.0% |
| 2023 | $5,161,396 | $667,828 | $1,414,358 | $3,374,900 | ↑ Top 25% | +9.7% |
| 2022 | — | $553,066 | $1,215,730 | $2,939,150 | — | +3.3% |
| 2021 | $353,437 | $517,750 | $1,142,600 | $2,780,453 | ↓ Bottom 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.