2707 RIO GRANDE ST 78705
| Owner | 2707 RIO GRANDE STREET LLC |
|---|---|
| Parcel ID | 0215020522 |
| Short ID | 985010 |
| Type | Real |
| Use Code | 07 Apartment 50–100 Units |
| Valuation | Income |
| Improvement SF | 76,016 SF |
| Land SF | 68,227 SF |
| Acres | 1.566 |
| Year Built | 2006 |
| Legal | LOT 2-4,15-18 BLK 2 OLT 63 DIVISION D |
| Neighborhood | WC |
| Land | $30,702,150 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $30,702,150 |
| Improvement | $10,297,850 |
|---|---|
| Total Improvement | $10,297,850 |
| Market | $41,000,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $41,000,000 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $41,000,000 |
| Taxable Value | $41,000,000 |
|---|
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 $839,059. 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 75% of market value ($30,702,150 land vs $10,297,850 improvements), about $450/SF of land. With value concentrated in the land, this reads as a land-dominated asset — the classic higher-and-best-use / redevelopment signal. Underwrite the dirt, not the building.
Submarket Position: At $41,000,000, 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.
No delinquent taxes on record.
8 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 187 | PARKING GARAGE | 130,000 SF | ✓ |
| 2ND | 2nd Floor | 36,842 SF | ✓ |
| 3RD | 3rd Floor | 35,490 SF | ✓ |
| 4TH | 4th Floor | 33,778 SF | ✓ |
| 5TH | 5th Floor | 29,546 SF | ✓ |
| 1ST | 1st Floor | 3,684 SF | ✓ |
| 132 | PLBG 5-FIXT AVG | 2 SF | ✓ |
| 276 | ELEVATOR COM PAS | 2 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% | $360,365.40 | $360,365.40 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $204,104.62 | $204,104.62 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $146,391.63 | $146,391.63 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $45,969.96 | $45,969.96 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $40,274.30 | $40,274.30 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $797,105.91 | $797,105.91 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $40,680,000 | $41,000,000 | -0.8% |
| Assessed Value | $40,680,000 | $41,000,000 | -0.8% |
| Land Value | $15,351,075 | $30,702,150 | -50.0% |
| Improvement Value | $25,328,925 | $10,297,850 | +146.0% |
| Taxable Value | $40,680,000 | $41,000,000 | -0.8% |
| Total Tax 2026 = estimate |
~$832,510
Estimated
|
~$797,106
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $42,749,085 | $40,680,000 | -2,069,085 (-4.8%) |
| Taxable Value | $42,749,085 | $40,680,000 | -2,069,085 (-4.8%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $40,680,000 | $15,351,075 | $25,328,925 | — | $40,680,000 | $40,680,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $41,000,000 | $30,702,150 | $10,297,850 | — | $41,000,000 | $41,000,000 | ~$797,106 | Partial |
| 2024 | $— | — | — | — | — | $— | $843,460 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +4.3% | +4.3% | ~100% | Not available | Partial |
| 2025 | -3.7% | -3.7% | ~100% | Not available | Partial |
| 2024 | base year | — | ~100% | 1.9800% | Verified |
| Cumulative market value growth (earliest valid year → 2025): -3.7% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -0.8% | -0.8% | — | -0.8% | 2026 | -0.8% | 2026 |
| Assessment Ratio | 100.0% | 100.0% | — | 100.0% | 2025 | 100.0% | 2025 |
| Effective Tax Rate (2025) | 1.9400% | 1.9400% | — | 1.9400% | 2025 | 1.9400% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$797,106 | $797,106 | — | $797,106 | 2025 | $797,106 | 2025 |
In 2025, this property's market value of $41,000,000 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 | $41,000,000 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | — | $467,458 | $564,615 | $848,565 | — | -6.3% |
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.