408 W 15 ST TX 78701
| Owner | SEJ ASSET MGMT & INVSTMNT CO |
|---|---|
| Parcel ID | 0210021501 |
| Short ID | 199810 |
| Type | Real |
| Use Code | 48 Convenience Store |
| Valuation | Income |
| Improvement SF | 2,515 SF |
| Land SF | 9,743 SF |
| Acres | 0.224 |
| Year Built | 1969 |
| Legal | 0.2237 AC OF OLT 31 DIVISION E |
| Neighborhood | 48CEN |
| Land | $4,871,555 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $4,871,555 |
| Improvement | — |
|---|---|
| Total Improvement | — |
| Market | $4,000,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $4,000,000 |
| Value Limitation Adjustment (−) (homestead cap) | −$348,160 |
| Net Appraised (assessed) | $3,651,840 |
| Exemptions (−) | −$7,000 |
|---|---|
| Taxable Value | $3,644,840 |
Appreciation: Market value has risen +173.5% from $1,462,467 (2021) to $4,000,000 (2025), a CAGR of 28.6% 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 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 $74,591. Austin ISD is the largest single contributor, at 45.2% of the total 2025 levy.
Assessment Gap: Assessed value ($3,651,840) is $348,160 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 122% of market value ($4,871,555 land vs $0 improvements), about $500/SF of land. With value concentrated in the land under a ~57-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 $4,000,000, this parcel sits in the top quartile (≥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 +28.6% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $14,069,459 by 2030, with an estimated annual tax burden around $110,789. 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 |
|---|---|---|---|
| 551 | PAVED AREA | 6,500 SF | ✗ |
| 1ST | 1st Floor | 2,515 SF | ✓ |
| 541 | FENCE COMM LF | 48 SF | ✗ |
| 559 | PAVED AREA FV | 1 SF | ✗ |
Market value changed by 100% 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% | $33,722.06 | $33,722.06 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $19,099.58 | $19,099.58 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $13,698.95 | $13,698.95 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $4,301.75 | $4,301.75 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $3,768.76 | $3,768.76 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $74,591.10 | $74,591.10 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $4,885,316 | $4,000,000 | +22.1% |
| Assessed Value | $4,382,208 | $3,651,840 | +20.0% |
| Land Value | $4,871,555 | $4,871,555 | +0.0% |
| Improvement Value | $13,761 | — | — |
| Taxable Value | $4,375,208 | $3,644,840 | +20.0% |
| Exemptions | — | @ | |
| HS Cap Loss | -$503,108 | — | |
| Total Tax 2026 = estimate |
~$89,538
Estimated
|
~$74,591
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $4,990,635 | $4,885,316 | -105,319 (-2.1%) |
| Taxable Value | $4,375,208 | $4,375,208 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $4,885,316 | $4,871,555 | $13,761 | −$503,108 | $4,382,208 | $4,375,208 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $4,000,000 | $4,871,555 | — | −$348,160 | $3,651,840 | $3,644,840 | ~$74,591 | Partial |
| 2024 | $3,003,481 | — | — | — | $3,043,200 ! | $— | $60,172 | Verified |
| 2023 | $1,498,089 | — | — | — | $3,003,481 ! | $— | $54,214 | Verified |
| 2022 | $1,498,089 | — | — | −$36,622 | $1,461,467 | $— | $29,448 | Verified |
| 2021 | $1,462,467 | — | — | −$1,000 | $1,461,467 | $— | $32,456 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +24.8% | +20.0% | 87.8% | Not available | Partial |
| 2025 | +31.4% | +20.0% | 91.3% | Not available | Partial |
| 2024 | +1.3% | +1.3% | ~100% | 1.9800% | Verified |
| 2023 | +100.5% ! | +100.5% | ~100% | 1.8100% | Verified |
| 2022 | +0.0% | +0.0% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 2.2200% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +167.0% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +22.1% | +31.6% | +23.9% | +100.5% | 2024 | +0.0% | 2023 |
| Assessment Ratio | 89.7% | 113.4% | — | 200.5% | 2023 | 89.7% | 2026 |
| Effective Tax Rate (2025) | 1.8600% | 1.8600% | — | 1.8600% | 2025 | 1.8600% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$74,591 | $50,176 | ~$95,285 | $74,591 | 2025 | $29,448 | 2022 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$5,144,030 | ~$4,017,024 | ~2.0139% | ~$80,900 | +28.6% |
| 2027 | ~$6,615,260 | ~$4,418,726 | ~1.9814% | ~$87,552 | +65.4% |
| 2028 | ~$8,507,274 | ~$4,860,599 | ~1.9488% | ~$94,725 | +112.7% |
| 2029 | ~$10,940,418 | ~$5,346,659 | ~1.9163% | ~$102,458 | +173.5% |
| 2030 | ~$14,069,459 | ~$5,881,325 | ~1.8837% | ~$110,789 | +251.7% |
| 2026 | ~$5,064,030 | ~$4,017,024 | ~2.0465% | ~$82,208 | +26.6% |
| 2027 | ~$6,411,099 | ~$4,418,726 | ~2.0465% | ~$90,429 | +60.3% |
| 2028 | ~$8,116,499 | ~$4,860,599 | ~2.0465% | ~$99,471 | +102.9% |
| 2029 | ~$10,275,549 | ~$5,346,659 | ~2.0465% | ~$109,419 | +156.9% |
| 2030 | ~$13,008,921 | ~$5,881,325 | ~2.0465% | ~$120,360 | +225.2% |
| 2026 | ~$5,224,030 | ~$4,017,024 | ~1.9977% | ~$80,247 | +30.6% |
| 2027 | ~$6,822,622 | ~$4,418,726 | ~1.9488% | ~$86,114 | +70.6% |
| 2028 | ~$8,910,395 | ~$4,860,599 | ~1.9000% | ~$92,352 | +122.8% |
| 2029 | ~$11,637,042 | ~$5,346,659 | ~1.8512% | ~$98,977 | +190.9% |
| 2030 | ~$15,198,063 | ~$5,881,325 | ~1.8024% | ~$106,003 | +280.0% |
In 2025, this property's market value of $4,000,000 places it in the top 25% for Commercial properties in Travis County (13608 comparable) — +182% 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 | $4,000,000 | $649,268 | $1,417,484 | $3,347,260 | ↑ Top 25% | -0.8% |
| 2024 | $3,003,481 | $661,016 | $1,438,465 | $3,471,171 | ↑ Above median | +0.0% |
| 2023 | $1,498,089 | $667,828 | $1,414,358 | $3,374,900 | ↑ Above median | +9.7% |
| 2022 | $1,498,089 | $553,066 | $1,215,730 | $2,939,150 | ↑ Above median | +3.3% |
| 2021 | $1,462,467 | $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.