610 12 ST 1 78701
| Owner | GS-IC SYMPHONY SQUARE OFFICE OWNER |
|---|---|
| Parcel ID | 0208051902 |
| Short ID | 951175 |
| Type | Real |
| Use Code | 50 Office Hi-Rise (≥6 Stories) |
| Valuation | Income |
| Improvement SF | 97,200 SF |
| Land SF | 40,211 SF |
| Acres | 0.923 |
| Year Built | 2023 |
| Legal | UNT 1 SYMPHONY SQUARE MASTER CONDOMINIUM PLUS 54.0 % INT IN COM AREA |
| Neighborhood | CBD1 |
| Land | $20,105,550 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $20,105,550 |
| Improvement | $7,088,965 |
|---|---|
| Total Improvement | $7,088,965 |
| Market | $27,194,515 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $27,194,515 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $27,194,515 |
| Taxable Value | $27,194,515 |
|---|
Appreciation: Market value has risen +8.2% from $25,143,443 (2023) to $27,194,515 (2025), a CAGR of 4.0% over 2 years. Growth has been relatively flat for this asset class. Most of this growth came in a single year (2025→2026), 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 fell -15.8%, 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 $556,532. Austin ISD is the largest single contributor, at 43.3% 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 74% of market value ($20,105,550 land vs $7,088,965 improvements), about $500/SF of land. With value concentrated in the land, this reads as a land-dominated asset — the classic higher-and-best-use / redevelopment signal. Underwrite the dirt, not the building.
Submarket Position: At $27,194,515, 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 +4.0% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $33,084,360 by 2030, with an estimated annual tax burden around $623,224. 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.
7 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 187 | PARKING GARAGE | 125,600 SF | ✓ |
| 1ST | 1st Floor | 32,400 SF | ✓ |
| 2ND | 2nd Floor | 32,400 SF | ✓ |
| 3RD | 3rd Floor | 32,400 SF | ✓ |
| 4TH | 4th Floor | 32,400 SF | ✓ |
| ADDL | Additional Floor | 31,000 SF | ✓ |
| 5TH | 5th Floor | 13,500 SF | ✓ |
Market value changed by 171% in 2023, 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% | $164,059.37 | $164,059.37 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $92,920.34 | $92,920.34 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $66,646.02 | $66,646.02 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $20,928.21 | $20,928.21 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $18,335.21 | $18,335.21 | Paid |
| P2U | — | — | — | — | — | — | $15,939.89 | $15,939.89 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $378,829.04 | $378,829.04 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $95,070,386 | $27,194,515 | +249.6% |
| Assessed Value | $95,070,386 | $27,194,515 | +249.6% |
| Land Value | $28,147,770 | $20,105,550 | +40.0% |
| Improvement Value | $66,922,616 | $7,088,965 | +844.0% |
| Taxable Value | — | $27,194,515 | — |
| Exemptions | — | F | |
| Total Tax | Pending certification |
~$378,829
Partial
|
|
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $95,070,386 | $95,070,386 | +0 (+0.0%) |
| Taxable Value | — | — | — |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $95,070,386 | $28,147,770 | $66,922,616 | — | $95,070,386 | $— | Not yet — post-cert | Certified — no billing yet |
| 2025 | $27,194,515 | $20,105,550 | $7,088,965 | — | $27,194,515 | $27,194,515 | ~$378,829 | Partial |
| 2024 | $74,037,991 | — | — | −$53,932,441 | $20,105,550 | $— | $739,176 | Verified |
| 2023 | $25,143,443 | — | — | −$5,037,893 | $20,105,550 | $— | $1,407,553 | Verified |
| 2022 | $— | — | — | — | $20,105,550 | $— | $523,318 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +249.6% ! | +249.6% | ~100% | Not available | Partial |
| 2025 | -23.7% | -23.7% | ~100% | Not available | Partial |
| 2024 | -51.8% | -51.8% | ~100% | 2.0700% | Verified |
| 2023 | +171.4% ! | +171.4% | ~100% | 1.9000% | Verified |
| 2022 | base year | — | ~100% | 1.9200% | Verified |
| Cumulative market value growth (earliest valid year → 2025): -0.3% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +249.6% | +126.9% | -10.9% | +249.6% | 2026 | -63.3% | 2025 |
| Assessment Ratio | 100.0% | 76.8% | — | 100.0% | 2025 | 27.2% | 2024 |
| Effective Tax Rate (2025) | 1.3900% | 1.3900% | — | 1.3900% | 2025 | 1.3900% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$378,829 | $841,853 | ~$596,267 | $1,407,553 | 2023 | $378,829 | 2025 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$28,281,966 | ~$28,281,966 | ~2.0139% | ~$569,581 | +4.0% |
| 2027 | ~$29,412,903 | ~$29,412,903 | ~1.9814% | ~$582,784 | +8.2% |
| 2028 | ~$30,589,063 | ~$30,589,063 | ~1.9488% | ~$596,132 | +12.5% |
| 2029 | ~$31,812,255 | ~$31,812,255 | ~1.9163% | ~$609,615 | +17.0% |
| 2030 | ~$33,084,360 | ~$33,084,360 | ~1.8837% | ~$623,224 | +21.7% |
| 2026 | ~$27,738,076 | ~$27,738,076 | ~2.0465% | ~$567,656 | +2.0% |
| 2027 | ~$28,292,502 | ~$28,292,502 | ~2.0465% | ~$579,002 | +4.0% |
| 2028 | ~$28,858,010 | ~$28,858,010 | ~2.0465% | ~$590,575 | +6.1% |
| 2029 | ~$29,434,821 | ~$29,434,821 | ~2.0465% | ~$602,379 | +8.2% |
| 2030 | ~$30,023,161 | ~$30,023,161 | ~2.0465% | ~$614,419 | +10.4% |
| 2026 | ~$28,825,857 | ~$28,825,857 | ~1.9977% | ~$575,843 | +6.0% |
| 2027 | ~$30,555,059 | ~$30,555,059 | ~1.9488% | ~$595,469 | +12.4% |
| 2028 | ~$32,387,993 | ~$32,387,993 | ~1.9000% | ~$615,377 | +19.1% |
| 2029 | ~$34,330,881 | ~$34,330,881 | ~1.8512% | ~$635,531 | +26.2% |
| 2030 | ~$36,390,318 | ~$36,390,318 | ~1.8024% | ~$655,889 | +33.8% |
In 2025, this property's market value of $27,194,515 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 52× 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 | $27,194,515 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $74,037,991 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $25,143,443 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | — | $506,618 | $615,058 | $906,429 | — | +39.1% |
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.