506 W 15 ST TX 78701
| Owner | 506 W 15TH LLC |
|---|---|
| Parcel ID | 0210020912 |
| Short ID | 199752 |
| Type | Real |
| Use Code | 59 Office / Retail (SFR Conv.) |
| Valuation | Income |
| Improvement SF | 3,728 SF |
| Land SF | 8,919 SF |
| Acres | 0.205 |
| Year Built | 1910 |
| Legal | E64' OF W128' OF S128' & & 10' ADJ ALLEY OLT 30 DIVISION E |
| Neighborhood | 59CBD |
| Land | $2,675,700 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $2,675,700 |
| Improvement | — |
|---|---|
| Total Improvement | — |
| Market | $2,607,500 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $2,607,500 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $2,607,500 |
| Taxable Value | $2,607,500 |
|---|
Appreciation: Market value has risen +32.2% from $1,972,122 (2021) to $2,607,500 (2025), a CAGR of 7.2% over 4 years. This represents moderate, steady growth. Most of this growth came in a single year (2023→2024), 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 $53,362. Austin ISD is the largest single contributor, at 45.2% 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 103% of market value ($2,675,700 land vs $0 improvements), about $300/SF of land. With value concentrated in the land under a ~116-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 $2,607,500, 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 +7.2% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $3,696,898 by 2030, with an estimated annual tax burden around $69,640. 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.
8 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 095 | HVAC RESIDENTIAL | 3,728 SF | ✗ |
| 1ST | 1st Floor | 3,476 SF | ✓ |
| 551 | PAVED AREA | 2,950 SF | ✗ |
| 611 | TERRACE | 460 SF | ✗ |
| 2ND | 2nd Floor | 252 SF | ✓ |
| 011C | PORCH OPEN 1ST COMM | 96 SF | ✗ |
| 435 | FENCE IRON LF | 70 SF | ✗ |
| 251 | BATHROOM | 3 SF | ✓ |
Market value changed by 175% 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% | $24,124.59 | $24,124.59 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $13,663.74 | $13,663.74 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $9,800.16 | $9,800.16 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $3,077.45 | $3,077.45 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $2,696.16 | $2,696.16 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $53,362.10 | $53,362.10 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $2,607,500 | $2,607,500 | +0.0% |
| Assessed Value | $2,607,500 | $2,607,500 | +0.0% |
| Land Value | $2,229,750 | $2,675,700 | -16.7% |
| Improvement Value | $377,750 | — | — |
| Taxable Value | $2,607,500 | $2,607,500 | +0.0% |
| Total Tax 2026 = estimate |
~$53,362
Estimated
|
~$53,362
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $3,497,722 | $2,607,500 | -890,222 (-25.5%) |
| Taxable Value | $3,129,000 | $2,607,500 | -521,500 (-16.7%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $2,607,500 | $2,229,750 | $377,750 | — | $2,607,500 | $2,607,500 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $2,607,500 | $2,675,700 | — | — | $2,607,500 | $2,607,500 | ~$53,362 | Partial |
| 2024 | $3,464,800 | — | — | — | $4,356,000 ! | $— | $82,399 | Verified |
| 2023 | $1,894,076 | — | — | — | $4,356,000 ! | $— | $61,578 | Verified |
| 2022 | $1,894,076 | — | — | −$587,276 | $1,306,800 | $— | $36,580 | Verified |
| 2021 | $1,972,122 | — | — | −$665,322 | $1,306,800 | $— | $41,228 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +34.1% | +20.0% | 89.5% | Not available | Partial |
| 2025 | -41.9% | -37.3% | ~100% | Not available | Partial |
| 2024 | -13.9% | -20.2% | 92.7% | 1.8400% | Verified |
| 2023 | +174.9% ! | +174.9% | ~100% | 1.1800% | Verified |
| 2022 | +0.0% | +0.0% | ~100% | 1.9300% | Verified |
| 2021 | base year | — | ~100% | 2.0900% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +37.7% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +0.0% | +10.8% | +7.2% | +82.9% | 2024 | -24.7% | 2025 |
| Assessment Ratio | 100.0% | 115.2% | — | 230.0% | 2023 | 66.3% | 2021 |
| Effective Tax Rate (2025) | 2.0500% | 2.0500% | — | 2.0500% | 2025 | 2.0500% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$53,362 | $55,029 | ~$62,816 | $82,399 | 2024 | $36,580 | 2022 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$2,796,063 | ~$2,796,063 | ~2.0139% | ~$56,311 | +7.2% |
| 2027 | ~$2,998,262 | ~$2,998,262 | ~1.9814% | ~$59,407 | +15.0% |
| 2028 | ~$3,215,083 | ~$3,215,083 | ~1.9488% | ~$62,657 | +23.3% |
| 2029 | ~$3,447,584 | ~$3,447,584 | ~1.9163% | ~$66,066 | +32.2% |
| 2030 | ~$3,696,898 | ~$3,696,898 | ~1.8837% | ~$69,640 | +41.8% |
| 2026 | ~$2,743,913 | ~$2,743,913 | ~2.0465% | ~$56,154 | +5.2% |
| 2027 | ~$2,887,463 | ~$2,887,463 | ~2.0465% | ~$59,091 | +10.7% |
| 2028 | ~$3,038,522 | ~$3,038,522 | ~2.0465% | ~$62,183 | +16.5% |
| 2029 | ~$3,197,484 | ~$3,197,484 | ~2.0465% | ~$65,436 | +22.6% |
| 2030 | ~$3,364,762 | ~$3,364,762 | ~2.0465% | ~$68,859 | +29.0% |
| 2026 | ~$2,848,213 | ~$2,848,213 | ~1.9977% | ~$56,898 | +9.2% |
| 2027 | ~$3,111,148 | ~$3,111,148 | ~1.9488% | ~$60,631 | +19.3% |
| 2028 | ~$3,398,355 | ~$3,398,355 | ~1.9000% | ~$64,569 | +30.3% |
| 2029 | ~$3,712,076 | ~$3,712,076 | ~1.8512% | ~$68,718 | +42.4% |
| 2030 | ~$4,054,759 | ~$4,054,759 | ~1.8024% | ~$73,082 | +55.5% |
In 2025, this property's market value of $2,607,500 places it in the 50th–75th percentile for Commercial properties in Travis County (13608 comparable) — +84% 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 | $2,607,500 | $649,268 | $1,417,484 | $3,347,260 | ↑ Above median | -0.8% |
| 2024 | $3,464,800 | $661,016 | $1,438,465 | $3,471,171 | ↑ Above median | +0.0% |
| 2023 | $1,894,076 | $667,828 | $1,414,358 | $3,374,900 | ↑ Above median | +9.7% |
| 2022 | $1,894,076 | $553,066 | $1,215,730 | $2,939,150 | ↑ Above median | +3.3% |
| 2021 | $1,972,122 | $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.