1401 PHILOMENA ST 78723
| Owner | SCP II 1401 PHILOMENA LLC |
|---|---|
| Parcel ID | 0219131003 |
| Short ID | 952906 |
| Type | Real |
| Use Code | 55 Medical Office (>10,000 SF) |
| Valuation | Income |
| Improvement SF | 74,000 SF |
| Land SF | 74,098 SF |
| Acres | 1.701 |
| Year Built | 2022 |
| Legal | UNT OFFICE MASTER UNIT MUELLER TC-1B MASTER CONDOMINIUM PLUS 89.0 % INT IN COM AREA |
| Neighborhood | CEN |
| Land | $3,334,403 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $3,334,403 |
| Improvement | $27,304,347 |
|---|---|
| Total Improvement | $27,304,347 |
| Market | $30,638,750 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $30,638,750 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $30,638,750 |
| Taxable Value | $30,638,750 |
|---|
Appreciation: Market value has risen +424.9% from $5,836,812 (2023) to $30,638,750 (2025), a CAGR of 129.1% over 2 years. This is strong appreciation — well above typical inflation. 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 Commercial parcel countywide rose +0.2%, 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 $627,017. Austin ISD is the largest single contributor, at 45.2% of the total 2025 levy.
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 11% of market value ($3,334,403 land vs $27,304,347 improvements), about $45/SF of land. Most value sits in the improvements, so building condition, age (~4 yrs), and rent roll drive the underwriting.
Submarket Position: At $30,638,750, this parcel sits in the top quartile (≥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 +129.1% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $1,934,235,667 by 2030, with an estimated annual tax burden around $929,514. 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.
5 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 3RD | 3rd Floor | 29,000 SF | ✓ |
| 5TH | 5th Floor | 26,500 SF | ✓ |
| 4TH | 4th Floor | 26,000 SF | ✓ |
| 2ND | 2nd Floor | 25,000 SF | ✓ |
| 1ST | 1st Floor | 20,000 SF | ✓ |
Market value changed by 594% in 2023, 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% | $283,469.72 | $283,469.72 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $160,552.26 | $160,552.26 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $115,154.21 | $115,154.21 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $36,160.77 | $36,160.77 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $31,680.47 | $31,680.47 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $627,017.43 | $627,017.43 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $31,750,000 | $30,638,750 | +3.6% |
| Assessed Value | $31,750,000 | $30,638,750 | +3.6% |
| Land Value | $3,334,403 | $3,334,403 | +0.0% |
| Improvement Value | $28,415,597 | $27,304,347 | +4.1% |
| Taxable Value | $31,750,000 | $30,638,750 | +3.6% |
| Total Tax 2026 = estimate |
~$649,759
Estimated
|
~$627,017
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $35,611,978 | $31,750,000 | -3,861,978 (-10.8%) |
| Taxable Value | $35,611,978 | $31,750,000 | -3,861,978 (-10.8%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $31,750,000 | $3,334,403 | $28,415,597 | — | $31,750,000 | $31,750,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $30,638,750 | $3,334,403 | $27,304,347 | — | $30,638,750 | $30,638,750 | ~$627,017 | Partial |
| 2024 | $29,396,252 | — | — | −$26,061,849 | $3,334,403 | $— | $629,226 | Verified |
| 2023 | $5,836,812 | — | — | −$2,502,400 | $3,334,412 | $— | $595,978 | Verified |
| 2022 | $— | — | — | — | $3,334,412 | $— | $115,273 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +16.2% | +16.2% | ~100% | Not available | Partial |
| 2025 | -3.5% | -3.5% | ~100% | Not available | Partial |
| 2024 | -21.6% | -21.6% | ~100% | 1.9800% | Verified |
| 2023 | +593.8% ! | +593.8% | ~100% | 1.4700% | Verified |
| 2022 | base year | — | ~100% | 1.9700% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +424.9% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +3.6% | +137.1% | +127.5% | +403.6% | 2024 | +3.6% | 2026 |
| Assessment Ratio | 100.0% | 67.1% | — | 100.0% | 2025 | 11.3% | 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 |
$627,017 | $617,407 | ~$799,435 | $629,226 | 2024 | $595,978 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$70,197,026 | ~$33,702,625 | ~2.0139% | ~$678,749 | +129.1% |
| 2027 | ~$160,829,748 | ~$37,072,888 | ~1.9814% | ~$734,558 | +424.9% |
| 2028 | ~$368,480,109 | ~$40,780,176 | ~1.9488% | ~$794,740 | +1102.7% |
| 2029 | ~$844,231,823 | ~$44,858,194 | ~1.9163% | ~$859,614 | +2655.4% |
| 2030 | ~$1,934,235,667 | ~$49,344,013 | ~1.8837% | ~$929,514 | +6213.0% |
| 2026 | ~$69,584,251 | ~$33,702,625 | ~2.0465% | ~$689,719 | +127.1% |
| 2027 | ~$158,034,122 | ~$37,072,888 | ~2.0465% | ~$758,691 | +415.8% |
| 2028 | ~$358,914,316 | ~$40,780,176 | ~2.0465% | ~$834,560 | +1071.4% |
| 2029 | ~$815,137,164 | ~$44,858,194 | ~2.0465% | ~$918,016 | +2560.5% |
| 2030 | ~$1,851,273,595 | ~$49,344,013 | ~2.0465% | ~$1,009,818 | +5942.3% |
| 2026 | ~$70,809,801 | ~$33,702,625 | ~1.9977% | ~$673,265 | +131.1% |
| 2027 | ~$163,649,884 | ~$37,072,888 | ~1.9488% | ~$722,491 | +434.1% |
| 2028 | ~$378,214,376 | ~$40,780,176 | ~1.9000% | ~$774,830 | +1134.4% |
| 2029 | ~$874,098,474 | ~$44,858,194 | ~1.8512% | ~$830,412 | +2752.9% |
| 2030 | ~$2,020,145,693 | ~$49,344,013 | ~1.8024% | ~$889,362 | +6493.4% |
In 2025, this property's market value of $30,638,750 places it in the top 25% for Commercial properties in Travis County (13608 comparable) — 22× 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 | $30,638,750 | $649,268 | $1,417,484 | $3,347,260 | ↑ Top 25% | -0.8% |
| 2024 | $29,396,252 | $661,016 | $1,438,465 | $3,471,171 | ↑ Top 25% | +0.0% |
| 2023 | $5,836,812 | $667,828 | $1,414,358 | $3,374,900 | ↑ Top 25% | +9.7% |
| 2022 | — | $553,066 | $1,215,730 | $2,939,150 | — | +3.3% |
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.