1202 E 51 ST TX 78723
| Owner | 51ST CENTER LLC |
|---|---|
| Parcel ID | 0221130222 |
| Short ID | 218516 |
| Type | Real |
| Use Code | 06 Apartment 26–49 Units |
| Valuation | Income |
| Improvement SF | 14,372 SF |
| Land SF | 30,171 SF |
| Acres | 0.693 |
| Year Built | 1985 |
| Legal | LOT 4C-6C * RESUB OF LOT 2-4 * OF A RESUB OF PT OF LOT 3&4 RIDGETOP GARDENS |
| Neighborhood | 06NEM |
| Land | $2,413,680 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $2,413,680 |
| Improvement | $820,020 |
|---|---|
| Total Improvement | $820,020 |
| Market | $3,233,700 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $3,233,700 |
| Value Limitation Adjustment (−) (homestead cap) | −$241,405 |
| Net Appraised (assessed) | $2,992,295 |
| Taxable Value | $2,992,295 |
|---|
Appreciation: Market value has risen +28.6% from $2,515,100 (2021) to $3,233,700 (2025), a CAGR of 6.5% over 4 years. This represents moderate, steady growth. Growth has been fairly evenly spread across these years rather than concentrated in one jump. 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 $61,237. Austin ISD is the largest single contributor, at 45.2% of the total 2025 levy.
Assessment Gap: Assessed value ($2,992,295) is $241,405 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 75% of market value ($2,413,680 land vs $820,020 improvements), about $80/SF of land. With value concentrated in the land under a ~41-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 $3,233,700, 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 +6.5% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $4,427,212 by 2030, with an estimated annual tax burden around $83,397. 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.
11 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 551 | PAVED AREA | 14,800 SF | ✗ |
| 2ND | 2nd Floor | 7,213 SF | ✓ |
| 1ST | 1st Floor | 7,159 SF | ✓ |
| 591 | MASONRY TRIM SF | 1,875 SF | ✗ |
| 541 | FENCE COMM LF | 530 SF | ✗ |
| 011C | PORCH OPEN 1ST COMM | 455 SF | ✗ |
| SO | Sketch Only | 455 SF | ✗ |
| 012C | PORCH OPEN 2 COMM | 16 SF | ✗ |
| 132 | PLBG 5-FIXT AVG | 1 SF | ✓ |
| 242 | OBS OVEN/BURN | 1 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% | $27,684.71 | $27,684.71 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $15,680.13 | $15,680.13 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $11,246.39 | $11,246.39 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $3,531.60 | $3,531.60 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $3,094.03 | $3,094.03 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $61,236.86 | $61,236.86 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $2,413,680 | $3,233,700 | -25.4% |
| Assessed Value | $2,413,680 | $2,992,295 | -19.3% |
| Land Value | $2,413,680 | $2,413,680 | +0.0% |
| Improvement Value | — | $820,020 | — |
| Taxable Value | $2,413,680 | $2,992,295 | -19.3% |
| Total Tax 2026 = estimate |
~$49,396
Estimated
|
~$61,237
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $2,413,680 | $2,413,680 | +0 (+0.0%) |
| Taxable Value | $2,413,680 | $2,413,680 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $2,413,680 | $2,413,680 | — | — | $2,413,680 | $2,413,680 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $3,233,700 | $2,413,680 | $820,020 | −$241,405 | $2,992,295 | $2,992,295 | ~$61,237 | Partial |
| 2024 | $3,161,840 | — | — | −$748,160 | $2,413,680 | $— | $38,789 | Verified |
| 2023 | $3,161,840 | — | — | −$748,160 | $2,413,680 | $— | $44,945 | Verified |
| 2022 | $2,802,540 | — | — | −$1,293,990 | $1,508,550 | $— | $48,997 | Verified |
| 2021 | $2,515,100 | — | — | −$1,157,405 | $1,357,695 | $— | $61,002 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -25.4% | -19.3% | ~100% | Not available | Partial |
| 2025 | +29.7% | +20.0% | 92.5% | Not available | Partial |
| 2024 | -21.1% | -21.1% | ~100% | 1.5600% | Verified |
| 2023 | +0.0% | +0.0% | ~100% | 1.4200% | Verified |
| 2022 | +12.8% | +12.8% | ~100% | 1.5500% | Verified |
| 2021 | base year | — | ~100% | 2.4300% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +15.4% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -25.4% | +0.2% | +13.7% | +12.8% | 2023 | -25.4% | 2026 |
| Assessment Ratio | 100.0% | 75.5% | — | 100.0% | 2026 | 53.8% | 2022 |
| 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 |
$61,237 | $50,994 | ~$75,438 | $61,237 | 2025 | $38,789 | 2024 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$3,443,387 | ~$3,291,525 | ~2.0139% | ~$66,289 | +6.5% |
| 2027 | ~$3,666,671 | ~$3,620,677 | ~1.9814% | ~$71,740 | +13.4% |
| 2028 | ~$3,904,434 | ~$3,904,434 | ~1.9488% | ~$76,091 | +20.7% |
| 2029 | ~$4,157,614 | ~$4,157,614 | ~1.9163% | ~$79,672 | +28.6% |
| 2030 | ~$4,427,212 | ~$4,427,212 | ~1.8837% | ~$83,397 | +36.9% |
| 2026 | ~$3,378,713 | ~$3,291,525 | ~2.0465% | ~$67,361 | +4.5% |
| 2027 | ~$3,530,229 | ~$3,530,229 | ~2.0465% | ~$72,246 | +9.2% |
| 2028 | ~$3,688,540 | ~$3,688,540 | ~2.0465% | ~$75,485 | +14.1% |
| 2029 | ~$3,853,950 | ~$3,853,950 | ~2.0465% | ~$78,871 | +19.2% |
| 2030 | ~$4,026,778 | ~$4,026,778 | ~2.0465% | ~$82,407 | +24.5% |
| 2026 | ~$3,508,061 | ~$3,291,525 | ~1.9977% | ~$65,754 | +8.5% |
| 2027 | ~$3,805,700 | ~$3,620,677 | ~1.9488% | ~$70,561 | +17.7% |
| 2028 | ~$4,128,592 | ~$3,982,745 | ~1.9000% | ~$75,673 | +27.7% |
| 2029 | ~$4,478,880 | ~$4,381,019 | ~1.8512% | ~$81,101 | +38.5% |
| 2030 | ~$4,858,887 | ~$4,819,121 | ~1.8024% | ~$86,858 | +50.3% |
In 2025, this property's market value of $3,233,700 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 6× 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 | $3,233,700 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $3,161,840 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $3,161,840 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $2,802,540 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $2,515,100 | $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.