510 W M L KING JR BLVD TX 78705
| Owner | 510 W MLK LTD |
|---|---|
| Parcel ID | 0212011611 |
| Short ID | 203796 |
| Type | Real |
| Use Code | 20 Small Store (<10,000 SF) |
| Valuation | Income |
| Improvement SF | 3,600 SF |
| Land SF | 5,900 SF |
| Acres | 0.135 |
| Year Built | 1921 |
| Legal | W 50FT LOT 20-21 *& W 50FT OF S 20FT LOT 19 OLT 23 DIV D HORSTS LOUIS SUBD |
| Neighborhood | 20CEN |
| Land | $1,327,500 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $1,327,500 |
| Improvement | $45,540 |
|---|---|
| Total Improvement | $45,540 |
| Market | $1,373,040 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $1,373,040 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $1,373,040 |
| Taxable Value | $1,373,040 |
|---|
Appreciation: Market value has fallen -12.0% from $1,560,000 (2021) to $1,373,040 (2025), a CAGR of -3.1% over 4 years. Growth has been relatively flat for this asset class. Most of this growth came in a single year (2021→2022), 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 lagged 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 $28,099. 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 97% of market value ($1,327,500 land vs $45,540 improvements), about $225/SF of land. With value concentrated in the land under a ~105-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 $1,373,040, this parcel sits in the lower-middle (25th–50th 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 -3.1% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $1,170,527 by 2030, with an estimated annual tax burden around $22,050. 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.
2 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 3,600 SF | ✓ |
| 551 | PAVED AREA | 2,300 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% | $12,703.37 | $12,703.37 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $7,194.96 | $7,194.96 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $5,160.50 | $5,160.50 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $1,620.50 | $1,620.50 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $1,419.72 | $1,419.72 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $28,099.05 | $28,099.05 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $1,376,572 | $1,373,040 | +0.3% |
| Assessed Value | $1,376,572 | $1,373,040 | +0.3% |
| Land Value | $1,327,500 | $1,327,500 | +0.0% |
| Improvement Value | $49,072 | $45,540 | +7.8% |
| Taxable Value | $1,376,572 | $1,373,040 | +0.3% |
| Total Tax 2026 = estimate |
~$28,171
Estimated
|
~$28,099
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $1,376,572 | $1,376,572 | +0 (+0.0%) |
| Taxable Value | $1,376,572 | $1,376,572 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $1,376,572 | $1,327,500 | $49,072 | — | $1,376,572 | $1,376,572 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $1,373,040 | $1,327,500 | $45,540 | — | $1,373,040 | $1,373,040 | ~$28,099 | Partial |
| 2024 | $1,454,000 | — | — | −$126,500 | $1,327,500 | $— | $27,151 | Verified |
| 2023 | $1,410,331 | — | — | −$82,831 | $1,327,500 | $— | $26,306 | Verified |
| 2022 | $1,356,874 | — | — | −$589,874 | $767,000 | $— | $27,853 | Verified |
| 2021 | $1,560,000 | — | — | −$822,500 | $737,500 | $— | $29,535 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +0.3% | +0.3% | ~100% | Not available | Partial |
| 2025 | +0.2% | +0.2% | ~100% | Not available | Partial |
| 2024 | -5.8% | -5.8% | ~100% | 1.9800% | Verified |
| 2023 | +3.1% | +3.1% | ~100% | 1.8100% | Verified |
| 2022 | +3.9% | +3.9% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 1.8900% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +1.2% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +0.3% | -2.3% | -3.2% | +3.9% | 2023 | -13.0% | 2022 |
| Assessment Ratio | 100.0% | 81.5% | — | 100.0% | 2025 | 47.3% | 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 |
$28,099 | $27,789 | ~$24,366 | $29,535 | 2021 | $26,306 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$1,329,912 | ~$1,329,912 | ~2.0139% | ~$26,784 | -3.1% |
| 2027 | ~$1,288,138 | ~$1,288,138 | ~1.9814% | ~$25,523 | -6.2% |
| 2028 | ~$1,247,677 | ~$1,247,677 | ~1.9488% | ~$24,315 | -9.1% |
| 2029 | ~$1,208,486 | ~$1,208,486 | ~1.9163% | ~$23,158 | -12.0% |
| 2030 | ~$1,170,527 | ~$1,170,527 | ~1.8837% | ~$22,050 | -14.7% |
| 2026 | ~$1,304,388 | ~$1,304,388 | ~2.0465% | ~$26,694 | -5.0% |
| 2027 | ~$1,239,169 | ~$1,239,169 | ~2.0465% | ~$25,359 | -9.7% |
| 2028 | ~$1,177,210 | ~$1,177,210 | ~2.0465% | ~$24,091 | -14.3% |
| 2029 | ~$1,118,350 | ~$1,118,350 | ~2.0465% | ~$22,887 | -18.5% |
| 2030 | ~$1,062,432 | ~$1,062,432 | ~2.0465% | ~$21,743 | -22.6% |
| 2026 | ~$1,357,373 | ~$1,357,373 | ~1.9977% | ~$27,116 | -1.1% |
| 2027 | ~$1,341,884 | ~$1,341,884 | ~1.9488% | ~$26,151 | -2.3% |
| 2028 | ~$1,326,572 | ~$1,326,572 | ~1.9000% | ~$25,205 | -3.4% |
| 2029 | ~$1,311,435 | ~$1,311,435 | ~1.8512% | ~$24,277 | -4.5% |
| 2030 | ~$1,296,470 | ~$1,296,470 | ~1.8024% | ~$23,367 | -5.6% |
In 2025, this property's market value of $1,373,040 places it in the 25th–50th percentile for Commercial properties in Travis County (13608 comparable) — -3% below 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 | $1,373,040 | $649,268 | $1,417,484 | $3,347,260 | ↓ Below median | -0.8% |
| 2024 | $1,454,000 | $661,016 | $1,438,465 | $3,471,171 | ↑ Above median | +0.0% |
| 2023 | $1,410,331 | $667,828 | $1,414,358 | $3,374,900 | ↓ Below median | +9.7% |
| 2022 | $1,356,874 | $553,066 | $1,215,730 | $2,939,150 | ↑ Above median | +3.3% |
| 2021 | $1,560,000 | $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.