602 E 7 ST TX 78701
| Owner | CABOT-CHASE LTD |
|---|---|
| Parcel ID | 0206041210 |
| Short ID | 194640 |
| Type | Real |
| Use Code | 31 Night Club / Bar |
| Valuation | Income |
| Improvement SF | 1,773 SF |
| Land SF | 4,864 SF |
| Acres | 0.112 |
| Year Built | 1950 |
| Legal | W 38FT OF LOT 2 BLOCK 089 ORIGINAL CITY |
| Neighborhood | 31CBD |
| Land | $1,702,400 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $1,702,400 |
| Improvement | — |
|---|---|
| Total Improvement | — |
| Market | $1,341,237 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $1,341,237 |
| Value Limitation Adjustment (−) (homestead cap) | −$326,719 |
| Net Appraised (assessed) | $1,014,518 |
| Taxable Value | $1,014,518 |
|---|
Appreciation: Market value has risen +90.8% from $702,887 (2021) to $1,341,237 (2025), a CAGR of 17.5% over 4 years. This is strong appreciation — well above typical inflation. Most of this growth came in a single year (2024→2025), not a steady climb — worth checking what drove that reappraisal rather than assuming a smooth trend. 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 $20,762. Austin ISD is the largest single contributor, at 44.2% of the total 2025 levy.
Assessment Gap: Assessed value ($1,014,518) is $326,719 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 127% of market value ($1,702,400 land vs $0 improvements), about $350/SF of land. With value concentrated in the land under a ~76-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 $1,341,237, this parcel sits in the lower-middle (25th–50th 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 +17.5% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $3,008,019 by 2030, with an estimated annual tax burden around $30,778. 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.
2 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 1,773 SF | ✓ |
| 501 | CANOPY | 72 SF | ✗ |
Market value changed by 81% in 2024, 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% | $9,386.32 | $9,386.32 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $5,316.25 | $5,316.25 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $3,813.02 | $3,813.02 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $1,197.36 | $1,197.36 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $1,049.01 | $1,049.01 | Paid |
| P2U | — | — | — | — | — | — | $475.93 | $475.93 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $21,237.89 | $21,237.89 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $1,187,946 | $1,341,237 | -11.4% |
| Assessed Value | $1,187,946 | $1,014,518 | +17.1% |
| Land Value | $1,216,000 | $1,702,400 | -28.6% |
| Improvement Value | — | — | — |
| Taxable Value | $1,187,946 | $1,014,518 | +17.1% |
| Total Tax 2026 = estimate |
~$24,311
Estimated
|
~$21,238
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $1,250,469 | $1,187,946 | -62,523 (-5.0%) |
| Taxable Value | $1,217,422 | $1,187,946 | -29,476 (-2.4%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $1,187,946 | $1,216,000 | — | — | $1,187,946 | $1,187,946 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $1,341,237 | $1,702,400 | — | −$326,719 | $1,014,518 | $1,014,518 | ~$21,238 | Partial |
| 2024 | $704,527 | — | — | — | $1,308,890 ! | $— | $17,074 | Verified |
| 2023 | $704,527 | — | — | −$47,887 | $656,640 | $— | $12,936 | Verified |
| 2022 | $703,934 | — | — | −$47,294 | $656,640 | $— | $14,118 | Verified |
| 2021 | $702,887 | — | — | −$46,247 | $656,640 | $— | $15,526 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -6.8% | +20.0% | 97.4% | Not available | Partial |
| 2025 | +2.5% | +20.0% | 75.6% | Not available | Partial |
| 2024 | +81.2% ! | +17.1% | 64.6% | 1.3000% | Verified |
| 2023 | +2.5% | +2.5% | ~100% | 1.7900% | Verified |
| 2022 | +0.1% | +0.1% | ~100% | 2.0000% | Verified |
| 2021 | base year | — | ~100% | 2.2100% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +90.5% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -11.4% | +15.8% | +20.6% | +90.4% | 2025 | -11.4% | 2026 |
| Assessment Ratio | 100.0% | 106.9% | — | 185.8% | 2024 | 75.6% | 2025 |
| Effective Tax Rate (2025) | 1.5800% | 1.5800% | — | 1.5800% | 2025 | 1.5800% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$21,238 | $16,179 | ~$26,471 | $21,238 | 2025 | $12,936 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$1,576,379 | ~$1,115,970 | ~2.0139% | ~$22,475 | +17.5% |
| 2027 | ~$1,852,745 | ~$1,227,567 | ~1.9814% | ~$24,323 | +38.1% |
| 2028 | ~$2,177,562 | ~$1,350,323 | ~1.9488% | ~$26,316 | +62.4% |
| 2029 | ~$2,559,326 | ~$1,485,356 | ~1.9163% | ~$28,464 | +90.8% |
| 2030 | ~$3,008,019 | ~$1,633,891 | ~1.8837% | ~$30,778 | +124.3% |
| 2026 | ~$1,549,554 | ~$1,115,970 | ~2.0465% | ~$22,838 | +15.5% |
| 2027 | ~$1,790,226 | ~$1,227,567 | ~2.0465% | ~$25,122 | +33.5% |
| 2028 | ~$2,068,278 | ~$1,350,323 | ~2.0465% | ~$27,634 | +54.2% |
| 2029 | ~$2,389,517 | ~$1,485,356 | ~2.0465% | ~$30,398 | +78.2% |
| 2030 | ~$2,760,650 | ~$1,633,891 | ~2.0465% | ~$33,437 | +105.8% |
| 2026 | ~$1,603,203 | ~$1,115,970 | ~1.9977% | ~$22,293 | +19.5% |
| 2027 | ~$1,916,336 | ~$1,227,567 | ~1.9488% | ~$23,923 | +42.9% |
| 2028 | ~$2,290,629 | ~$1,350,323 | ~1.9000% | ~$25,656 | +70.8% |
| 2029 | ~$2,738,028 | ~$1,485,356 | ~1.8512% | ~$27,497 | +104.1% |
| 2030 | ~$3,272,811 | ~$1,633,891 | ~1.8024% | ~$29,449 | +144.0% |
In 2025, this property's market value of $1,341,237 places it in the 25th–50th percentile for Commercial properties in Travis County (13608 comparable) — -5% below 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 | $1,341,237 | $649,268 | $1,417,484 | $3,347,260 | ↓ Below median | -0.8% |
| 2024 | $704,527 | $661,016 | $1,438,465 | $3,471,171 | ↓ Below median | +0.0% |
| 2023 | $704,527 | $667,828 | $1,414,358 | $3,374,900 | ↓ Below median | +9.7% |
| 2022 | $703,934 | $553,066 | $1,215,730 | $2,939,150 | ↓ Below median | +3.3% |
| 2021 | $702,887 | $517,750 | $1,142,600 | $2,780,453 | ↓ Below 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.