506 W 22 ST TX 78705
| Owner | NUECES PROPERTY OWNER LLC |
|---|---|
| Parcel ID | 0212010408 |
| Short ID | 203501 |
| Type | Real |
| Use Code | 08 Apartment 100+ Units |
| Valuation | Income |
| Improvement SF | — |
| Land SF | 26,049 SF |
| Acres | 0.598 |
| Year Built | — |
| Legal | LOT 16 &17 & W48FT OF S20FT OF LOT 18 & E 78 FT OF LOT 181/2 OLT 34 DIV D HORSTS LOUIS SUBD |
| Neighborhood | 08WC |
| Land | $5,860,998 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $5,860,998 |
| Improvement | $35,419,002 |
|---|---|
| Total Improvement | $35,419,002 |
| Market | $41,280,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $41,280,000 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $41,280,000 |
| Taxable Value | $41,280,000 |
|---|
Appreciation: Market value has fallen -21.4% from $52,510,000 (2021) to $41,280,000 (2025), a CAGR of -5.8% over 4 years. Growth has been relatively flat for this asset class. Most of this growth came in a single year (2021→2023), 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 rose +37.9%, so this parcel has lagged 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 $844,789. Austin ISD is the largest single contributor, at 45.2% 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 14% of market value ($5,860,998 land vs $35,419,002 improvements), about $225/SF of land. Most value sits in the improvements, so building condition, age, and rent roll drive the underwriting.
Submarket Position: At $41,280,000, 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 -5.8% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $30,557,075 by 2030, with an estimated annual tax burden around $575,617. 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.
1 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| ADDL | Additional Floor | 112,555 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% | $374,706.00 | $374,706.00 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $212,226.89 | $212,226.89 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $152,217.23 | $152,217.23 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $47,799.32 | $47,799.32 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $41,877.00 | $41,877.00 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $828,826.44 | $828,826.44 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $41,017,524 | $41,280,000 | -0.6% |
| Assessed Value | $41,017,524 | $41,280,000 | -0.6% |
| Land Value | $5,860,998 | $5,860,998 | +0.0% |
| Improvement Value | $35,156,526 | $35,419,002 | -0.7% |
| Taxable Value | $41,017,524 | $41,280,000 | -0.6% |
| Total Tax 2026 = estimate |
~$839,417
Estimated
|
~$828,826
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $41,017,524 | $41,017,524 | +0 (+0.0%) |
| Taxable Value | $41,017,524 | $41,017,524 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $41,017,524 | $5,860,998 | $35,156,526 | — | $41,017,524 | $41,017,524 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $41,280,000 | $5,860,998 | $35,419,002 | — | $41,280,000 | $41,280,000 | ~$828,826 | Partial |
| 2024 | $43,937,500 | — | — | −$38,076,502 | $5,860,998 | $— | $846,235 | Verified |
| 2023 | $43,937,500 | — | — | −$38,076,502 | $5,860,998 | $— | $797,218 | Verified |
| 2022 | $— | — | — | — | $4,688,798 | $— | $872,018 | Verified |
| 2021 | $52,510,000 | — | — | −$47,821,202 | $4,688,798 | $— | $954,737 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -0.6% | -0.6% | ~100% | Not available | Partial |
| 2025 | -3.3% | -3.3% | ~100% | Not available | Partial |
| 2024 | -7.7% | -7.7% | ~100% | 1.9800% | Verified |
| 2023 | -4.2% | -4.2% | ~100% | 1.7200% | Verified |
| 2022 | +7.1% | +7.1% | ~100% | 1.8100% | Verified |
| 2021 | base year | — | ~100% | 1.8200% | Verified |
| Cumulative market value growth (earliest valid year → 2025): -8.4% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -0.6% | -5.7% | -5.7% | +0.0% | 2024 | -16.3% | 2023 |
| Assessment Ratio | 100.0% | 47.1% | — | 100.0% | 2025 | 8.9% | 2021 |
| Effective Tax Rate (2025) | 2.0100% | 2.0100% | — | 2.0100% | 2025 | 2.0100% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$828,826 | $856,754 | ~$675,429 | $954,737 | 2021 | $797,218 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$38,869,961 | ~$38,869,961 | ~2.0139% | ~$782,816 | -5.8% |
| 2027 | ~$36,600,627 | ~$36,600,627 | ~1.9814% | ~$725,200 | -11.3% |
| 2028 | ~$34,463,783 | ~$34,463,783 | ~1.9488% | ~$671,644 | -16.5% |
| 2029 | ~$32,451,693 | ~$32,451,693 | ~1.9163% | ~$621,869 | -21.4% |
| 2030 | ~$30,557,075 | ~$30,557,075 | ~1.8837% | ~$575,617 | -26.0% |
| 2026 | ~$39,216,000 | ~$39,216,000 | ~2.0465% | ~$802,550 | -5.0% |
| 2027 | ~$37,255,200 | ~$37,255,200 | ~2.0465% | ~$762,422 | -9.8% |
| 2028 | ~$35,392,440 | ~$35,392,440 | ~2.0465% | ~$724,301 | -14.3% |
| 2029 | ~$33,622,818 | ~$33,622,818 | ~2.0465% | ~$688,086 | -18.5% |
| 2030 | ~$31,941,677 | ~$31,941,677 | ~2.0465% | ~$653,682 | -22.6% |
| 2026 | ~$39,695,561 | ~$39,695,561 | ~1.9977% | ~$792,983 | -3.8% |
| 2027 | ~$38,171,937 | ~$38,171,937 | ~1.9488% | ~$743,910 | -7.5% |
| 2028 | ~$36,706,794 | ~$36,706,794 | ~1.9000% | ~$697,435 | -11.1% |
| 2029 | ~$35,297,888 | ~$35,297,888 | ~1.8512% | ~$653,432 | -14.5% |
| 2030 | ~$33,943,058 | ~$33,943,058 | ~1.8024% | ~$611,780 | -17.8% |
In 2025, this property's market value of $41,280,000 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 79× 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 | $41,280,000 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $43,937,500 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $43,937,500 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | — | $506,618 | $615,058 | $906,429 | — | +39.1% |
| 2021 | $52,510,000 | $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.