2606 WHELESS LN TX 78723
| Owner | VELO FLATS LLC |
|---|---|
| Parcel ID | 0222210229 |
| Short ID | 220913 |
| Type | Real |
| Use Code | 07 Apartment 50–100 Units |
| Valuation | Income |
| Improvement SF | 56,780 SF |
| Land SF | 137,449 SF |
| Acres | 3.155 |
| Year Built | 1972 |
| Legal | LOT 2A * RESUB OF LOT 2 HICKMAN B M SUBD |
| Neighborhood | 08NE |
| Land | $1,546,301 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $1,546,301 |
| Improvement | $323,388 |
|---|---|
| Total Improvement | $323,388 |
| Market | $1,869,689 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $1,869,689 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $1,869,689 |
| Taxable Value | $1,869,689 |
|---|
Appreciation: Market value has fallen -69.6% from $6,150,000 (2021) to $1,869,689 (2025), a CAGR of -25.7% 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 $38,263. 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 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 83% of market value ($1,546,301 land vs $323,388 improvements), about $11/SF of land. With value concentrated in the land under a ~54-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 $1,869,689, 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 -25.8% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $422,073 by 2030, with an estimated annual tax burden around $7,951. 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.
17 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| SO | Sketch Only | 99,999 SF | ✗ |
| 551 | PAVED AREA | 35,100 SF | ✗ |
| 1ST | 1st Floor | 29,790 SF | ✓ |
| 2ND | 2nd Floor | 26,990 SF | ✓ |
| 011C | PORCH OPEN 1ST COMM | 4,396 SF | ✗ |
| 012C | PORCH OPEN 2 COMM | 3,720 SF | ✗ |
| 541 | FENCE COMM LF | 1,700 SF | ✗ |
| 611 | TERRACE | 1,480 SF | ✗ |
| MISC | Miscellaneous | 818 SF | ✓ |
| 601 | POOL COMM'L | 800 SF | ✗ |
| 152 | COMMODE AVG | 2 SF | ✓ |
| 162 | LAVATORY AVG | 2 SF | ✓ |
| 132 | PLBG 5-FIXT AVG | 1 SF | ✓ |
| 142 | BATHTUB AVG | 1 SF | ✓ |
| 269 | OBS RANGE DRP-IN | 1 SF | ✓ |
| 413 | STAIRWAY EXT | 1 SF | ✓ |
| 192 | WATER HTR AVG | 1 SF | ✓ |
Market value changed by 78% in 2025, 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% | $17,298.36 | $17,298.36 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $9,797.49 | $9,797.49 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $7,027.13 | $7,027.13 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $2,206.66 | $2,206.66 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $1,933.26 | $1,933.26 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $38,262.90 | $38,262.90 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $2,230,526 | $1,869,689 | +19.3% |
| Assessed Value | $2,230,526 | $1,869,689 | +19.3% |
| Land Value | $1,546,301 | $1,546,301 | +0.0% |
| Improvement Value | $684,225 | $323,388 | +111.6% |
| Taxable Value | $2,230,526 | $1,869,689 | +19.3% |
| Total Tax 2026 = estimate |
~$45,647
Estimated
|
~$38,263
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $2,230,526 | $2,230,526 | +0 (+0.0%) |
| Taxable Value | $2,230,526 | $2,230,526 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $2,230,526 | $1,546,301 | $684,225 | — | $2,230,526 | $2,230,526 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $1,869,689 | $1,546,301 | $323,388 | — | $1,869,689 | $1,869,689 | ~$38,263 | Partial |
| 2024 | $10,000,000 | — | — | −$8,453,699 | $1,546,301 | $— | $157,070 | Verified |
| 2023 | $8,960,000 | — | — | −$7,413,699 | $1,546,301 | $— | $180,925 | Verified |
| 2022 | $7,427,581 | — | — | −$5,881,280 | $1,546,301 | $— | $176,953 | Verified |
| 2021 | $6,150,000 | — | — | −$4,603,699 | $1,546,301 | $— | $161,675 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +19.3% | +19.3% | ~100% | Not available | Partial |
| 2025 | -77.7% ! | -77.7% | ~100% | Not available | Partial |
| 2024 | -19.8% | -19.8% | ~100% | 1.8700% | Verified |
| 2023 | +17.0% | +17.0% | ~100% | 1.7300% | Verified |
| 2022 | +20.6% | +20.6% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 2.6300% | Verified |
| Cumulative market value growth (earliest valid year → 2025): -74.8% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +19.3% | -1.8% | -28.1% | +20.8% | 2022 | -81.3% | 2025 |
| Assessment Ratio | 100.0% | 46.4% | — | 100.0% | 2025 | 15.5% | 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 |
$38,263 | $142,977 | ~$16,429 | $180,925 | 2023 | $38,263 | 2025 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$1,388,331 | ~$1,388,331 | ~2.0139% | ~$27,960 | -25.7% |
| 2027 | ~$1,030,900 | ~$1,030,900 | ~1.9814% | ~$20,426 | -44.9% |
| 2028 | ~$765,491 | ~$765,491 | ~1.9488% | ~$14,918 | -59.1% |
| 2029 | ~$568,413 | ~$568,413 | ~1.9163% | ~$10,892 | -69.6% |
| 2030 | ~$422,073 | ~$422,073 | ~1.8837% | ~$7,951 | -77.4% |
| 2026 | ~$1,776,205 | ~$1,776,205 | ~2.0465% | ~$36,350 | -5.0% |
| 2027 | ~$1,687,394 | ~$1,687,394 | ~2.0465% | ~$34,532 | -9.8% |
| 2028 | ~$1,603,025 | ~$1,603,025 | ~2.0465% | ~$32,806 | -14.3% |
| 2029 | ~$1,522,873 | ~$1,522,873 | ~2.0465% | ~$31,165 | -18.5% |
| 2030 | ~$1,446,730 | ~$1,446,730 | ~2.0465% | ~$29,607 | -22.6% |
| 2026 | ~$1,425,725 | ~$1,425,725 | ~1.9977% | ~$28,481 | -23.7% |
| 2027 | ~$1,087,181 | ~$1,087,181 | ~1.9488% | ~$21,187 | -41.9% |
| 2028 | ~$829,026 | ~$829,026 | ~1.9000% | ~$15,752 | -55.7% |
| 2029 | ~$632,171 | ~$632,171 | ~1.8512% | ~$11,703 | -66.2% |
| 2030 | ~$482,059 | ~$482,059 | ~1.8024% | ~$8,688 | -74.2% |
In 2025, this property's market value of $1,869,689 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 4× 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 | $1,869,689 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $10,000,000 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $8,960,000 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $7,427,581 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $6,150,000 | $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.