508 E 38 ST TX 78705
| Owner | SITZMAN ALEX J |
|---|---|
| Parcel ID | 0218060715 |
| Short ID | 213200 |
| Type | Real |
| Use Code | 02 Duplex |
| Valuation | Cost |
| Improvement SF | 1,764 SF |
| Land SF | 7,400 SF |
| Acres | 0.170 |
| Year Built | 1982 |
| Legal | LOT 9&10 BLK 1 OLT 11 DIV C OAKLAWN ADDN |
| Neighborhood | Z64005 |
| Land | $299,604 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $299,604 |
| Improvement | $118,684 |
|---|---|
| Total Improvement | $118,684 |
| Market | $418,288 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $418,288 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $418,288 |
| Taxable Value | $418,288 |
|---|
Appreciation: Market value has fallen -17.4% from $506,300 (2021) to $418,288 (2025), a CAGR of -4.7% over 4 years. Growth has been relatively flat for this asset class. 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 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 $8,560. 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 cost approach, tied more to replacement cost and physical condition than to income performance.
Value Composition: Land carries 72% of market value ($299,604 land vs $118,684 improvements), about $40/SF of land. With value concentrated in the land under a ~44-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 $418,288, this parcel sits in the bottom quartile (<25th 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 -4.7% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $329,465 by 2030, with an estimated annual tax burden around $6,206. 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.
7 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 1,764 SF | ✓ |
| 095 | HVAC RESIDENTIAL | 1,764 SF | ✗ |
| 011 | PORCH OPEN 1ST F | 252 SF | ✗ |
| 512 | DECK UNCOVRED | 54 SF | ✗ |
| 581 | STORAGE ATT | 48 SF | ✓ |
| 252 | BEDROOMS | 4 SF | ✓ |
| 251 | BATHROOM | 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% | $3,870.00 | $3,870.00 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $2,191.90 | $2,191.90 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $1,572.11 | $1,572.11 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $493.68 | $493.68 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $432.51 | $432.51 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $8,560.20 | $8,560.20 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $684,990 | $418,288 | +63.8% |
| Assessed Value | $501,946 | $418,288 | +20.0% |
| Land Value | $369,952 | $299,604 | +23.5% |
| Improvement Value | $315,038 | $118,684 | +165.4% |
| Taxable Value | $501,946 | $418,288 | +20.0% |
| HS Cap Loss | -$183,044 | — | |
| Total Tax 2026 = estimate |
~$10,272
Estimated
|
~$8,560
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $709,834 | $684,990 | -24,844 (-3.5%) |
| Taxable Value | $501,946 | $501,946 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $684,990 | $369,952 | $315,038 | −$183,044 | $501,946 | $501,946 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $418,288 | $299,604 | $118,684 | — | $418,288 | $418,288 | ~$8,560 | Partial |
| 2024 | $715,424 | — | — | −$435,424 | $280,000 | $— | $7,894 | Verified |
| 2023 | $779,903 | — | — | −$429,903 | $350,000 | $— | $12,944 | Verified |
| 2022 | $592,600 | — | — | −$242,600 | $350,000 | $— | $15,403 | Verified |
| 2021 | $506,300 | — | — | −$181,300 | $325,000 | $— | $12,899 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +69.7% | +20.0% | 70.7% | Not available | Partial |
| 2025 | +5.0% | +5.0% | ~100% | Not available | Partial |
| 2024 | -44.3% | -44.3% | ~100% | 1.9800% | Verified |
| 2023 | -17.0% | -17.0% | ~100% | 1.8100% | Verified |
| 2022 | +45.4% | +45.4% | ~100% | 1.7900% | Verified |
| 2021 | base year | — | ~100% | 2.5500% | Verified |
| Cumulative market value growth (earliest valid year → 2025): -29.4% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +63.8% | +12.5% | -12.1% | +63.8% | 2026 | -41.5% | 2025 |
| Assessment Ratio | 73.3% | 63.4% | — | 100.0% | 2025 | 39.1% | 2024 |
| 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 |
$8,560 | $11,540 | ~$7,091 | $15,403 | 2022 | $7,894 | 2024 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$398,788 | ~$398,788 | ~2.0139% | ~$8,031 | -4.7% |
| 2027 | ~$380,197 | ~$380,197 | ~1.9814% | ~$7,533 | -9.1% |
| 2028 | ~$362,473 | ~$362,473 | ~1.9488% | ~$7,064 | -13.3% |
| 2029 | ~$345,575 | ~$345,575 | ~1.9163% | ~$6,622 | -17.4% |
| 2030 | ~$329,465 | ~$329,465 | ~1.8837% | ~$6,206 | -21.2% |
| 2026 | ~$397,374 | ~$397,374 | ~2.0465% | ~$8,132 | -5.0% |
| 2027 | ~$377,505 | ~$377,505 | ~2.0465% | ~$7,726 | -9.7% |
| 2028 | ~$358,630 | ~$358,630 | ~2.0465% | ~$7,339 | -14.3% |
| 2029 | ~$340,698 | ~$340,698 | ~2.0465% | ~$6,972 | -18.5% |
| 2030 | ~$323,663 | ~$323,663 | ~2.0465% | ~$6,624 | -22.6% |
| 2026 | ~$407,154 | ~$407,154 | ~1.9977% | ~$8,134 | -2.7% |
| 2027 | ~$396,316 | ~$396,316 | ~1.9488% | ~$7,724 | -5.3% |
| 2028 | ~$385,767 | ~$385,767 | ~1.9000% | ~$7,330 | -7.8% |
| 2029 | ~$375,499 | ~$375,499 | ~1.8512% | ~$6,951 | -10.2% |
| 2030 | ~$365,504 | ~$365,504 | ~1.8024% | ~$6,588 | -12.6% |
In 2025, this property's market value of $418,288 places it in the bottom 25% for Multi-Family properties in Travis County (12584 comparable) — -20% below 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 | $418,288 | $438,669 | $519,778 | $749,859 | ↓ Bottom 25% | -7.5% |
| 2024 | $715,424 | $467,458 | $564,615 | $848,565 | ↑ Above median | -6.3% |
| 2023 | $779,903 | $503,905 | $617,035 | $919,932 | ↑ Above median | +0.9% |
| 2022 | $592,600 | $506,618 | $615,058 | $906,429 | ↓ Below median | +39.1% |
| 2021 | $506,300 | $300,453 | $376,850 | $539,896 | ↑ 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.