401 W 2 ST TX 78701
| Owner | CITY OF AUSTIN |
|---|---|
| Parcel ID | 0205010509 |
| Short ID | 525257 |
| Type | Real |
| Use Code | 32 Restaurant |
| Valuation | Income |
| Improvement SF | 3,750 SF |
| Land SF | 4,630 SF |
| Acres | 0.106 |
| Year Built | 1880 |
| Legal | LOT 5 BLOCK 002 ORIGINAL CITY AMENDMENT OF AMENDED PLAT OF LOTS 5&6 PLUS 59 SQ FT VAC ST PLUS 59 SQ FT VAC ST |
| Neighborhood | 32CBD |
| Land | $3,852,160 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $3,852,160 |
| Improvement | — |
|---|---|
| Total Improvement | — |
| Market | $3,024,456 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $3,024,456 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $3,024,456 |
| Exemptions (−) (HT) | −$756,114 |
|---|---|
| Taxable Value | $2,268,342 |
Appreciation: Market value has risen +30.9% from $2,310,171 (2021) to $3,024,456 (2025), a CAGR of 7.0% over 4 years. This represents moderate, steady growth. 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 $46,421. Austin ISD is the largest single contributor, at 46.8% of the total 2025 levy.
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 127% of market value ($3,852,160 land vs $0 improvements), about $832/SF of land. With value concentrated in the land under a ~146-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 $3,024,456, this parcel sits in the upper-middle (50th–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 +7.0% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $4,235,466 by 2030, with an estimated annual tax burden around $79,785. 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.
4 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 491 | SPRINKLER HEADS | 3,750 SF | ✗ |
| 1ST | 1st Floor | 1,950 SF | ✓ |
| 2ND | 2nd Floor | 1,800 SF | ✓ |
| 611 | TERRACE | 450 SF | ✗ |
Market value changed by 88% in 2026, flagged as unusually large. Verify against comparable sales before using this value in underwriting.
| 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% | $24,484.48 | $24,484.48 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $11,886.50 | $11,886.50 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $8,525.45 | $8,525.45 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $3,127.29 | $3,127.29 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $2,677.17 | $2,677.17 | Paid |
| P2U | — | — | — | — | — | — | $1,635.72 | $1,635.72 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $52,336.61 | $52,336.61 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $3,153,081 | $3,024,456 | +4.3% |
| Assessed Value | $3,153,081 | $3,024,456 | +4.3% |
| Land Value | $3,704,000 | $3,852,160 | -3.8% |
| Improvement Value | — | — | — |
| Taxable Value | $2,225,214 | $2,268,342 | -1.9% |
| Exemptions | HT | HT | |
| Total Tax 2026 = estimate |
~$45,539
Estimated
|
~$52,337
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $5,684,625 | $3,153,081 | -2,531,544 (-44.5%) |
| Taxable Value | $2,701,480 | $2,225,214 | -476,266 (-17.6%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $3,153,081 | $3,704,000 | — | — | $3,153,081 | $2,225,214 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $3,024,456 | $3,852,160 | — | — | $3,024,456 | $2,268,342 | ~$52,337 | Partial |
| 2024 | $2,600,000 | — | — | — | $2,649,848 ! | $— | $44,582 | Verified |
| 2023 | $2,500,000 | — | — | −$92,400 | $2,407,600 | $— | $39,395 | Verified |
| 2022 | $2,462,930 | — | — | −$55,330 | $2,407,600 | $— | $41,795 | Verified |
| 2021 | $2,310,171 | — | — | — | $2,407,600 ! | $— | $45,222 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +88.0% ! | +20.0% | 63.8% | Not available | Partial |
| 2025 | +14.1% | +14.1% | ~100% | Not available | Partial |
| 2024 | +1.9% | +1.9% | ~100% | 1.6800% | Verified |
| 2023 | +4.0% | +4.0% | ~100% | 1.5200% | Verified |
| 2022 | +1.5% | +1.5% | ~100% | 1.6700% | Verified |
| 2021 | base year | — | ~100% | 1.9600% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +22.8% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +4.3% | +6.5% | +6.1% | +16.3% | 2025 | +1.5% | 2023 |
| Assessment Ratio | 100.0% | 100.0% | — | 104.2% | 2021 | 96.3% | 2023 |
| Effective Tax Rate (2025) | 1.7300% | 1.7300% | — | 1.7300% | 2025 | 1.7300% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$52,337 | $44,666 | ~$72,305 | $52,337 | 2025 | $39,395 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$3,235,177 | ~$3,235,177 | ~2.0139% | ~$65,154 | +7.0% |
| 2027 | ~$3,460,580 | ~$3,460,580 | ~1.9814% | ~$68,568 | +14.4% |
| 2028 | ~$3,701,686 | ~$3,701,686 | ~1.9488% | ~$72,140 | +22.4% |
| 2029 | ~$3,959,592 | ~$3,959,592 | ~1.9163% | ~$75,877 | +30.9% |
| 2030 | ~$4,235,466 | ~$4,235,466 | ~1.8837% | ~$79,785 | +40.0% |
| 2026 | ~$3,174,688 | ~$3,174,688 | ~2.0465% | ~$64,970 | +5.0% |
| 2027 | ~$3,332,382 | ~$3,332,382 | ~2.0465% | ~$68,197 | +10.2% |
| 2028 | ~$3,497,910 | ~$3,497,910 | ~2.0465% | ~$71,584 | +15.7% |
| 2029 | ~$3,671,659 | ~$3,671,659 | ~2.0465% | ~$75,140 | +21.4% |
| 2030 | ~$3,854,039 | ~$3,854,039 | ~2.0465% | ~$78,872 | +27.4% |
| 2026 | ~$3,295,666 | ~$3,295,666 | ~1.9977% | ~$65,836 | +9.0% |
| 2027 | ~$3,591,196 | ~$3,591,196 | ~1.9488% | ~$69,987 | +18.7% |
| 2028 | ~$3,913,228 | ~$3,913,228 | ~1.9000% | ~$74,352 | +29.4% |
| 2029 | ~$4,264,136 | ~$4,264,136 | ~1.8512% | ~$78,937 | +41.0% |
| 2030 | ~$4,646,511 | ~$4,646,511 | ~1.8024% | ~$83,747 | +53.6% |
In 2025, this property's market value of $3,024,456 places it in the 50th–75th percentile for Commercial properties in Travis County (13608 comparable) — +113% above 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 | $3,024,456 | $649,268 | $1,417,484 | $3,347,260 | ↑ Above median | -0.8% |
| 2024 | $2,600,000 | $661,016 | $1,438,465 | $3,471,171 | ↑ Above median | +0.0% |
| 2023 | $2,500,000 | $667,828 | $1,414,358 | $3,374,900 | ↑ Above median | +9.7% |
| 2022 | $2,462,930 | $553,066 | $1,215,730 | $2,939,150 | ↑ Above median | +3.3% |
| 2021 | $2,310,171 | $517,750 | $1,142,600 | $2,780,453 | ↑ Above median | 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.