2131 THEO DR TX 78723
| Owner | 3115 MANOR MU LTD |
|---|---|
| Parcel ID | 0212131039 |
| Short ID | 204449 |
| Type | Real |
| Use Code | 53 Office Small (<10,000 SF) |
| Valuation | Income |
| Improvement SF | 6,000 SF |
| Land SF | 20,400 SF |
| Acres | 0.468 |
| Year Built | 1969 |
| Legal | LOT 11A AIRPORT & MANOR RD SUBD NO 3 RESUB OF LTS 11 & 12 |
| Neighborhood | 53EAS |
| Land | $1,020,000 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $1,020,000 |
| Improvement | $1,476,817 |
|---|---|
| Total Improvement | $1,476,817 |
| Market | $2,496,817 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $2,496,817 |
| Value Limitation Adjustment (−) (homestead cap) | −$744,918 |
| Net Appraised (assessed) | $1,751,899 |
| Taxable Value | $1,751,899 |
|---|
Appreciation: Market value has risen +104.1% from $1,223,300 (2021) to $2,496,817 (2025), a CAGR of 19.5% over 4 years. This is strong appreciation — well above typical inflation. Most of this growth came in a single year (2024→2025), 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 $35,852. Austin ISD is the largest single contributor, at 45.2% of the total 2025 levy.
Assessment Gap: Assessed value ($1,751,899) is $744,918 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 41% of market value ($1,020,000 land vs $1,476,817 improvements), about $50/SF of land. Most value sits in the improvements, so building condition, age (~57 yrs), and rent roll drive the underwriting.
Submarket Position: At $2,496,817, 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 +19.5% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $6,091,214 by 2030, with an estimated annual tax burden around $53,149. 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.
6 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 551 | PAVED AREA | 10,900 SF | ✗ |
| 1ST | 1st Floor | 6,000 SF | ✓ |
| 611 | TERRACE | 120 SF | ✗ |
| 541 | FENCE COMM LF | 100 SF | ✗ |
| 501 | CANOPY | 96 SF | ✗ |
| SO | Sketch Only | 84 SF | ✗ |
Market value changed by 104% in 2024, 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% | $16,208.57 | $16,208.57 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $9,180.25 | $9,180.25 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $6,584.42 | $6,584.42 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $2,067.64 | $2,067.64 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $1,811.46 | $1,811.46 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $35,852.34 | $35,852.34 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $2,059,114 | $2,496,817 | -17.5% |
| Assessed Value | $2,059,114 | $1,751,899 | +17.5% |
| Land Value | $1,020,000 | $1,020,000 | +0.0% |
| Improvement Value | $1,039,114 | $1,476,817 | -29.6% |
| Taxable Value | $2,059,114 | $1,751,899 | +17.5% |
| Total Tax 2026 = estimate |
~$42,139
Estimated
|
~$35,852
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $2,262,763 | $2,059,114 | -203,649 (-9.0%) |
| Taxable Value | $2,102,279 | $2,059,114 | -43,165 (-2.1%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $2,059,114 | $1,020,000 | $1,039,114 | — | $2,059,114 | $2,059,114 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $2,496,817 | $1,020,000 | $1,476,817 | −$744,918 | $1,751,899 | $1,751,899 | ~$35,852 | Partial |
| 2024 | $1,216,597 | — | — | −$196,597 | $1,020,000 | $— | $28,933 | Verified |
| 2023 | $2,044,406 | — | — | −$1,024,406 | $1,020,000 | $— | $22,011 | Verified |
| 2022 | $1,417,978 | — | — | −$703,978 | $714,000 | $— | $40,375 | Verified |
| 2021 | $1,223,300 | — | — | −$509,300 | $714,000 | $— | $30,865 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -9.4% | +20.0% | 92.9% | Not available | Partial |
| 2025 | +0.8% | +20.0% | 70.2% | Not available | Partial |
| 2024 | +103.5% ! | +20.0% | 59.0% | 1.1700% | Verified |
| 2023 | -40.5% | -40.5% | ~100% | 1.8100% | Verified |
| 2022 | +44.2% | +44.2% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 2.5200% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +76.1% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -17.5% | +21.5% | +24.6% | +105.2% | 2025 | -40.5% | 2024 |
| Assessment Ratio | 100.0% | 68.8% | — | 100.0% | 2026 | 49.9% | 2023 |
| Effective Tax Rate (2025) | 1.4400% | 1.4400% | — | 1.4400% | 2025 | 1.4400% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$35,852 | $31,607 | ~$45,711 | $40,375 | 2022 | $22,011 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$2,984,353 | ~$1,927,089 | ~2.0139% | ~$38,810 | +19.5% |
| 2027 | ~$3,567,086 | ~$2,119,798 | ~1.9814% | ~$42,001 | +42.9% |
| 2028 | ~$4,263,606 | ~$2,331,778 | ~1.9488% | ~$45,443 | +70.8% |
| 2029 | ~$5,096,129 | ~$2,564,955 | ~1.9163% | ~$49,152 | +104.1% |
| 2030 | ~$6,091,214 | ~$2,821,451 | ~1.8837% | ~$53,149 | +144.0% |
| 2026 | ~$2,934,416 | ~$1,927,089 | ~2.0465% | ~$39,438 | +17.5% |
| 2027 | ~$3,448,711 | ~$2,119,798 | ~2.0465% | ~$43,381 | +38.1% |
| 2028 | ~$4,053,142 | ~$2,331,778 | ~2.0465% | ~$47,719 | +62.3% |
| 2029 | ~$4,763,507 | ~$2,564,955 | ~2.0465% | ~$52,491 | +90.8% |
| 2030 | ~$5,598,373 | ~$2,821,451 | ~2.0465% | ~$57,741 | +124.2% |
| 2026 | ~$3,034,289 | ~$1,927,089 | ~1.9977% | ~$38,497 | +21.5% |
| 2027 | ~$3,687,459 | ~$2,119,798 | ~1.9488% | ~$41,311 | +47.7% |
| 2028 | ~$4,481,232 | ~$2,331,778 | ~1.9000% | ~$44,304 | +79.5% |
| 2029 | ~$5,445,875 | ~$2,564,955 | ~1.8512% | ~$47,482 | +118.1% |
| 2030 | ~$6,618,169 | ~$2,821,451 | ~1.8024% | ~$50,853 | +165.1% |
In 2025, this property's market value of $2,496,817 places it in the 50th–75th percentile for Commercial properties in Travis County (13608 comparable) — +76% 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 | $2,496,817 | $649,268 | $1,417,484 | $3,347,260 | ↑ Above median | -0.8% |
| 2024 | $1,216,597 | $661,016 | $1,438,465 | $3,471,171 | ↓ Below median | +0.0% |
| 2023 | $2,044,406 | $667,828 | $1,414,358 | $3,374,900 | ↑ Above median | +9.7% |
| 2022 | $1,417,978 | $553,066 | $1,215,730 | $2,939,150 | ↑ Above median | +3.3% |
| 2021 | $1,223,300 | $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.