924 E 40 ST TX 78751
| Owner | GREENLAND EDGAR BRUCE LIVING TRUST |
|---|---|
| Parcel ID | 0217090467 |
| Short ID | 211832 |
| Type | Real |
| Use Code | 06 Apartment 26–49 Units |
| Valuation | Income |
| Improvement SF | 16,746 SF |
| Land SF | 29,895 SF |
| Acres | 0.686 |
| Year Built | 1981 |
| Legal | LOT 1 CLEMENTS-STENGER ADDN |
| Neighborhood | 06WC2 |
| Land | $1,195,800 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $1,195,800 |
| Improvement | $3,475,983 |
|---|---|
| Total Improvement | $3,475,983 |
| Market | $4,671,783 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $4,671,783 |
| Value Limitation Adjustment (−) (homestead cap) | −$351,783 |
| Net Appraised (assessed) | $4,320,000 |
| Taxable Value | $4,320,000 |
|---|
Appreciation: Market value has risen +39.9% from $3,338,695 (2021) to $4,671,783 (2025), a CAGR of 8.8% 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 Multi-Family parcel countywide rose +37.9%, so this parcel has outpaced 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 $88,408. Austin ISD is the largest single contributor, at 45.2% of the total 2025 levy.
Assessment Gap: Assessed value ($4,320,000) is $351,783 below market value, suggesting potential for an upward assessment in future years.
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 26% of market value ($1,195,800 land vs $3,475,983 improvements), about $40/SF of land. Most value sits in the improvements, so building condition, age (~45 yrs), and rent roll drive the underwriting.
Submarket Position: At $4,671,783, 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 +8.8% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $7,109,926 by 2030, with an estimated annual tax burden around $131,060. 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.
16 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| SO | Sketch Only | 37,952 SF | ✗ |
| 551 | PAVED AREA | 8,700 SF | ✗ |
| 1ST | 1st Floor | 8,373 SF | ✓ |
| 2ND | 2nd Floor | 8,373 SF | ✓ |
| 487 | PARKING UNDER | 1,058 SF | ✓ |
| 012C | PORCH OPEN 2 COMM | 781 SF | ✗ |
| 011C | PORCH OPEN 1ST COMM | 717 SF | ✗ |
| 581C | STORAGE ATT COMM | 646 SF | ✓ |
| 511 | DECK | 350 SF | ✗ |
| MISC | Miscellaneous | 3 SF | ✓ |
| 132 | PLBG 5-FIXT AVG | 1 SF | ✓ |
| 142 | BATHTUB AVG | 1 SF | ✓ |
| 152 | COMMODE AVG | 1 SF | ✓ |
| 242 | OBS OVEN/BURN | 1 SF | ✓ |
| 413 | STAIRWAY EXT | 1 SF | ✓ |
| 521 | FIREPLACE | 1 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% | $39,968.64 | $39,968.64 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $22,637.53 | $22,637.53 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $16,236.50 | $16,236.50 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $5,098.59 | $5,098.59 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $4,466.88 | $4,466.88 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $88,408.14 | $88,408.14 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $4,490,000 | $4,671,783 | -3.9% |
| Assessed Value | $4,490,000 | $4,320,000 | +3.9% |
| Land Value | $1,195,800 | $1,195,800 | +0.0% |
| Improvement Value | $3,294,200 | $3,475,983 | -5.2% |
| Taxable Value | $4,490,000 | $4,320,000 | +3.9% |
| Total Tax 2026 = estimate |
~$91,887
Estimated
|
~$88,408
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $5,563,200 | $4,490,000 | -1,073,200 (-19.3%) |
| Taxable Value | $5,184,000 | $4,490,000 | -694,000 (-13.4%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $4,490,000 | $1,195,800 | $3,294,200 | — | $4,490,000 | $4,490,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $4,671,783 | $1,195,800 | $3,475,983 | −$351,783 | $4,320,000 | $4,320,000 | ~$88,408 | Partial |
| 2024 | $3,000,000 | — | — | −$1,804,200 | $1,195,800 | $— | $71,345 | Verified |
| 2023 | $3,400,000 | — | — | −$2,204,200 | $1,195,800 | $— | $54,781 | Verified |
| 2022 | $— | — | — | — | $1,195,800 | $— | $67,147 | Verified |
| 2021 | $3,338,695 | — | — | −$2,142,895 | $1,195,800 | $— | $69,759 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +19.1% | +20.0% | 93.2% | Not available | Partial |
| 2025 | -6.1% | +2.5% | 92.5% | Not available | Partial |
| 2024 | +33.3% | +12.9% | 84.6% | 1.4300% | Verified |
| 2023 | +9.8% | +9.8% | ~100% | 1.4700% | Verified |
| 2022 | -3.3% | -3.3% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 2.0900% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +32.8% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -3.9% | +10.5% | +9.6% | +55.7% | 2025 | -11.8% | 2024 |
| Assessment Ratio | 100.0% | 60.7% | — | 100.0% | 2026 | 35.2% | 2023 |
| Effective Tax Rate (2025) | 1.8900% | 1.8900% | — | 1.8900% | 2025 | 1.8900% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$88,408 | $71,073 | ~$112,719 | $88,408 | 2025 | $54,781 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$5,081,116 | ~$4,752,000 | ~2.0139% | ~$95,702 | +8.8% |
| 2027 | ~$5,526,315 | ~$5,227,200 | ~1.9814% | ~$103,571 | +18.3% |
| 2028 | ~$6,010,521 | ~$5,749,920 | ~1.9488% | ~$112,057 | +28.7% |
| 2029 | ~$6,537,152 | ~$6,324,912 | ~1.9163% | ~$121,204 | +39.9% |
| 2030 | ~$7,109,926 | ~$6,957,403 | ~1.8837% | ~$131,060 | +52.2% |
| 2026 | ~$4,987,681 | ~$4,752,000 | ~2.0465% | ~$97,249 | +6.8% |
| 2027 | ~$5,324,939 | ~$5,227,200 | ~2.0465% | ~$106,974 | +14.0% |
| 2028 | ~$5,685,002 | ~$5,685,002 | ~2.0465% | ~$116,343 | +21.7% |
| 2029 | ~$6,069,412 | ~$6,069,412 | ~2.0465% | ~$124,210 | +29.9% |
| 2030 | ~$6,479,814 | ~$6,479,814 | ~2.0465% | ~$132,608 | +38.7% |
| 2026 | ~$5,174,552 | ~$4,752,000 | ~1.9977% | ~$94,929 | +10.8% |
| 2027 | ~$5,731,428 | ~$5,227,200 | ~1.9488% | ~$101,870 | +22.7% |
| 2028 | ~$6,348,234 | ~$5,749,920 | ~1.9000% | ~$109,249 | +35.9% |
| 2029 | ~$7,031,420 | ~$6,324,912 | ~1.8512% | ~$117,086 | +50.5% |
| 2030 | ~$7,788,129 | ~$6,957,403 | ~1.8024% | ~$125,398 | +66.7% |
In 2025, this property's market value of $4,671,783 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 9× 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 | $4,671,783 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $3,000,000 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $3,400,000 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | — | $506,618 | $615,058 | $906,429 | — | +39.1% |
| 2021 | $3,338,695 | $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.