507 W 16 ST TX 78701
| Owner | 507 W 16TH LLC |
|---|---|
| Parcel ID | 0210020904 |
| Short ID | 199744 |
| Type | Real |
| Use Code | 05 Apartment 5–25 Units |
| Valuation | Income |
| Improvement SF | 2,842 SF |
| Land SF | 5,401 SF |
| Acres | 0.124 |
| Year Built | 1959 |
| Legal | 0.124 ACR OF OLT 30 DIVISION E |
| Neighborhood | 05CBD |
| Land | $1,620,432 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $1,620,432 |
| Improvement | $35,672 |
|---|---|
| Total Improvement | $35,672 |
| Market | $1,656,104 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $1,656,104 |
| Value Limitation Adjustment (−) (homestead cap) | −$52,117 |
| Net Appraised (assessed) | $1,603,987 |
| Taxable Value | $1,603,987 |
|---|
Appreciation: Market value has risen +126.3% from $731,793 (2021) to $1,656,104 (2025), a CAGR of 22.7% 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 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 $32,825. Austin ISD is the largest single contributor, at 45.2% of the total 2025 levy.
Assessment Gap: Assessed value ($1,603,987) is $52,117 below market value, suggesting potential for an upward assessment in future years.
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 98% of market value ($1,620,432 land vs $35,672 improvements), about $300/SF of land. With value concentrated in the land under a ~67-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 $1,656,104, 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 +22.6% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $4,596,866 by 2030, with an estimated annual tax burden around $48,662. 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 |
|---|---|---|---|
| 1ST | 1st Floor | 1,575 SF | ✓ |
| 2ND | 2nd Floor | 1,267 SF | ✓ |
| 061C | CARPORT ATT 1ST COMM | 792 SF | ✗ |
| 611 | TERRACE | 220 SF | ✗ |
| 581C | STORAGE ATT COMM | 176 SF | ✓ |
| SO | Sketch Only | 56 SF | ✗ |
| 011C | PORCH OPEN 1ST COMM | 48 SF | ✗ |
| 132 | PLBG 5-FIXT AVG | 1 SF | ✓ |
| 303 | STAIRWAYS FV | 1 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% | $14,840.09 | $14,840.09 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $8,405.16 | $8,405.16 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $6,028.50 | $6,028.50 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $1,893.07 | $1,893.07 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $1,658.52 | $1,658.52 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $32,825.34 | $32,825.34 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $1,117,184 | $1,656,104 | -32.5% |
| Assessed Value | $1,117,184 | $1,603,987 | -30.3% |
| Land Value | $1,080,288 | $1,620,432 | -33.3% |
| Improvement Value | $36,896 | $35,672 | +3.4% |
| Taxable Value | $1,117,184 | $1,603,987 | -30.3% |
| Total Tax 2026 = estimate |
~$22,863
Estimated
|
~$32,825
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $1,117,184 | $1,117,184 | +0 (+0.0%) |
| Taxable Value | $1,117,184 | $1,117,184 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $1,117,184 | $1,080,288 | $36,896 | — | $1,117,184 | $1,117,184 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $1,656,104 | $1,620,432 | $35,672 | −$52,117 | $1,603,987 | $1,603,987 | ~$32,825 | Partial |
| 2024 | $1,266,320 | — | — | — | $1,336,656 ! | $— | $26,490 | Verified |
| 2023 | $1,151,200 | — | — | — | $1,266,320 ! | $— | $22,911 | Verified |
| 2022 | $737,341 | — | — | −$62,161 | $675,180 | $— | $22,735 | Verified |
| 2021 | $731,793 | — | — | −$56,613 | $675,180 | $— | $16,050 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -32.5% | -30.3% | ~100% | Not available | Partial |
| 2025 | +23.9% | +20.0% | 96.8% | Not available | Partial |
| 2024 | +5.6% | +5.6% | ~100% | 1.9800% | Verified |
| 2023 | +10.0% | +10.0% | ~100% | 1.8100% | Verified |
| 2022 | +56.1% | +56.1% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 2.1900% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +124.6% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -32.5% | +13.0% | +34.5% | +56.1% | 2023 | -32.5% | 2026 |
| Assessment Ratio | 100.0% | 99.4% | — | 110.0% | 2023 | 91.6% | 2022 |
| Effective Tax Rate (2025) | 1.9800% | 1.9800% | — | 1.9800% | 2025 | 1.9800% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$32,825 | $24,202 | ~$41,852 | $32,825 | 2025 | $16,050 | 2021 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$2,031,246 | ~$1,764,386 | ~2.0139% | ~$35,534 | +22.7% |
| 2027 | ~$2,491,365 | ~$1,940,824 | ~1.9814% | ~$38,455 | +50.4% |
| 2028 | ~$3,055,710 | ~$2,134,907 | ~1.9488% | ~$41,606 | +84.5% |
| 2029 | ~$3,747,891 | ~$2,348,397 | ~1.9163% | ~$45,002 | +126.3% |
| 2030 | ~$4,596,866 | ~$2,583,237 | ~1.8837% | ~$48,662 | +177.6% |
| 2026 | ~$1,998,124 | ~$1,764,386 | ~2.0465% | ~$36,108 | +20.7% |
| 2027 | ~$2,410,777 | ~$1,940,824 | ~2.0465% | ~$39,719 | +45.6% |
| 2028 | ~$2,908,652 | ~$2,134,907 | ~2.0465% | ~$43,691 | +75.6% |
| 2029 | ~$3,509,349 | ~$2,348,397 | ~2.0465% | ~$48,060 | +111.9% |
| 2030 | ~$4,234,102 | ~$2,583,237 | ~2.0465% | ~$52,866 | +155.7% |
| 2026 | ~$2,064,368 | ~$1,764,386 | ~1.9977% | ~$35,246 | +24.7% |
| 2027 | ~$2,573,277 | ~$1,940,824 | ~1.9488% | ~$37,824 | +55.4% |
| 2028 | ~$3,207,643 | ~$2,134,907 | ~1.9000% | ~$40,564 | +93.7% |
| 2029 | ~$3,998,392 | ~$2,348,397 | ~1.8512% | ~$43,473 | +141.4% |
| 2030 | ~$4,984,078 | ~$2,583,237 | ~1.8024% | ~$46,560 | +201.0% |
In 2025, this property's market value of $1,656,104 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 3× 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 | $1,656,104 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $1,266,320 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $1,151,200 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $737,341 | $506,618 | $615,058 | $906,429 | ↑ Above median | +39.1% |
| 2021 | $731,793 | $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.