406 W 40 ST TX 78751
| Owner | FRANKS WILLIAM R & MEGAN D |
|---|---|
| Parcel ID | 0219050518 |
| Short ID | 214658 |
| Type | Real |
| Use Code | 02 Duplex |
| Valuation | Cost |
| Improvement SF | 2,518 SF |
| Land SF | 6,886 SF |
| Acres | 0.158 |
| Year Built | 1933 |
| Legal | W50.5FT OF LOT 17-21 *& CEN 12.46FT OF LOT 17-18 HYDE PARK ADDN NO 2 |
| Neighborhood | Z65005 |
| Land | $568,119 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $568,119 |
| Improvement | $190,975 |
|---|---|
| Total Improvement | $190,975 |
| Market | $759,094 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $759,094 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $759,094 |
| Taxable Value | $759,094 |
|---|
Appreciation: Market value has risen +25.4% from $605,200 (2021) to $759,094 (2025), a CAGR of 5.8% over 4 years. This represents moderate, steady growth. Most of this growth came in a single year (2023→2024), 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 $15,535. 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 75% of market value ($568,119 land vs $190,975 improvements), about $83/SF of land. With value concentrated in the land under a ~93-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 $759,094, 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 +5.8% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $1,007,607 by 2030, with an estimated annual tax burden around $18,981. 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 |
|---|---|---|---|
| 1ST | 1st Floor | 1,930 SF | ✓ |
| 2ND | 2nd Floor | 588 SF | ✓ |
| 011 | PORCH OPEN 1ST F | 221 SF | ✗ |
| 251 | BATHROOM | 3 SF | ✓ |
| 522 | FIREPLACE | 2 SF | ✓ |
| 413 | STAIRWAY EXT | 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% | $7,023.14 | $7,023.14 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $3,977.78 | $3,977.78 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $2,853.02 | $2,853.02 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $895.91 | $895.91 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $784.90 | $784.90 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $15,534.75 | $15,534.75 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $814,132 | $759,094 | +7.3% |
| Assessed Value | $814,132 | $759,094 | +7.3% |
| Land Value | $446,153 | $568,119 | -21.5% |
| Improvement Value | $367,979 | $190,975 | +92.7% |
| Taxable Value | $814,132 | $759,094 | +7.3% |
| Total Tax 2026 = estimate |
~$16,661
Estimated
|
~$15,535
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $954,434 | $814,132 | -140,302 (-14.7%) |
| Taxable Value | $910,913 | $814,132 | -96,781 (-10.6%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $814,132 | $446,153 | $367,979 | — | $814,132 | $814,132 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $759,094 | $568,119 | $190,975 | — | $759,094 | $759,094 | ~$15,535 | Partial |
| 2024 | $769,262 | — | — | −$219,262 | $550,000 | $— | $16,456 | Verified |
| 2023 | $650,000 | — | — | −$100,000 | $550,000 | $— | $13,918 | Verified |
| 2022 | $701,000 | — | — | −$151,000 | $550,000 | $— | $13,007 | Verified |
| 2021 | $605,200 | — | — | −$255,200 | $350,000 | $— | $15,259 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +25.7% | +20.0% | 95.4% | Not available | Partial |
| 2025 | -8.6% | -8.6% | ~100% | Not available | Partial |
| 2024 | +7.9% | +7.9% | ~100% | 1.9800% | Verified |
| 2023 | -6.4% | -6.4% | ~100% | 1.8100% | Verified |
| 2022 | +17.3% | +17.3% | ~100% | 1.5800% | Verified |
| 2021 | base year | — | ~100% | 2.5200% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +8.3% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +7.3% | +6.6% | +4.4% | +18.3% | 2024 | -7.3% | 2023 |
| Assessment Ratio | 100.0% | 82.1% | — | 100.0% | 2025 | 57.8% | 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 |
$15,535 | $14,835 | ~$17,557 | $16,456 | 2024 | $13,007 | 2022 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$803,331 | ~$803,331 | ~2.0139% | ~$16,179 | +5.8% |
| 2027 | ~$850,147 | ~$850,147 | ~1.9814% | ~$16,845 | +12.0% |
| 2028 | ~$899,690 | ~$899,690 | ~1.9488% | ~$17,534 | +18.5% |
| 2029 | ~$952,121 | ~$952,121 | ~1.9163% | ~$18,245 | +25.4% |
| 2030 | ~$1,007,607 | ~$1,007,607 | ~1.8837% | ~$18,981 | +32.7% |
| 2026 | ~$788,149 | ~$788,149 | ~2.0465% | ~$16,129 | +3.8% |
| 2027 | ~$818,317 | ~$818,317 | ~2.0465% | ~$16,747 | +7.8% |
| 2028 | ~$849,639 | ~$849,639 | ~2.0465% | ~$17,388 | +11.9% |
| 2029 | ~$882,161 | ~$882,161 | ~2.0465% | ~$18,053 | +16.2% |
| 2030 | ~$915,927 | ~$915,927 | ~2.0465% | ~$18,744 | +20.7% |
| 2026 | ~$818,513 | ~$818,513 | ~1.9977% | ~$16,351 | +7.8% |
| 2027 | ~$882,584 | ~$882,584 | ~1.9488% | ~$17,200 | +16.3% |
| 2028 | ~$951,669 | ~$951,669 | ~1.9000% | ~$18,082 | +25.4% |
| 2029 | ~$1,026,163 | ~$1,026,163 | ~1.8512% | ~$18,996 | +35.2% |
| 2030 | ~$1,106,487 | ~$1,106,487 | ~1.8024% | ~$19,943 | +45.8% |
In 2025, this property's market value of $759,094 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — +46% above 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 | $759,094 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $769,262 | $467,458 | $564,615 | $848,565 | ↑ Above median | -6.3% |
| 2023 | $650,000 | $503,905 | $617,035 | $919,932 | ↑ Above median | +0.9% |
| 2022 | $701,000 | $506,618 | $615,058 | $906,429 | ↑ Above median | +39.1% |
| 2021 | $605,200 | $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.