115 FRANKLIN BLVD TX 78751
| Owner | NORTH LOOP RENTALS LP |
|---|---|
| Parcel ID | 0225091353 |
| Short ID | 225208 |
| Type | Real |
| Use Code | 05 Apartment 5–25 Units |
| Valuation | Income |
| Improvement SF | 5,848 SF |
| Land SF | 19,400 SF |
| Acres | 0.445 |
| Year Built | 1969 |
| Legal | E 25FT OF LOT 142,144 LOT 146 *LESS N 5FT NORTHFIELD ADDN |
| Neighborhood | 05NC |
| Land | $970,000 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $970,000 |
| Improvement | $43,386 |
|---|---|
| Total Improvement | $43,386 |
| Market | $1,013,386 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $1,013,386 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $1,013,386 |
| Taxable Value | $1,013,386 |
|---|
Appreciation: Market value has fallen -5.4% from $1,070,901 (2021) to $1,013,386 (2025), a CAGR of -1.4% 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 $20,739. 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 96% of market value ($970,000 land vs $43,386 improvements), about $50/SF of land. With value concentrated in the land under a ~57-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 $1,013,386, 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 -1.4% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $945,816 by 2030, with an estimated annual tax burden around $17,817. 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.
10 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 4,568 SF | ✓ |
| 551 | PAVED AREA | 3,600 SF | ✗ |
| 095 | HVAC RESIDENTIAL | 2,560 SF | ✗ |
| 2ND | 2nd Floor | 1,280 SF | ✓ |
| 041C | GARAGE ATT 1ST COMM | 720 SF | ✓ |
| 011C | PORCH OPEN 1ST COMM | 403 SF | ✗ |
| 612C | TERRACE UNCOVERD COMM | 360 SF | ✗ |
| 251 | BATHROOM | 2 SF | ✓ |
| 132 | PLBG 5-FIXT AVG | 1 SF | ✓ |
| 531 | OBS FENCE | 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% | $9,375.85 | $9,375.85 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $5,310.31 | $5,310.31 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $3,808.76 | $3,808.76 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $1,196.03 | $1,196.03 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $1,047.84 | $1,047.84 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $20,738.79 | $20,738.79 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $1,014,795 | $1,013,386 | +0.1% |
| Assessed Value | $1,014,795 | $1,013,386 | +0.1% |
| Land Value | $970,000 | $970,000 | +0.0% |
| Improvement Value | $44,795 | $43,386 | +3.2% |
| Taxable Value | $1,014,795 | $1,013,386 | +0.1% |
| Total Tax 2026 = estimate |
~$20,768
Estimated
|
~$20,739
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $1,578,960 | $1,014,795 | -564,165 (-35.7%) |
| Taxable Value | $1,216,063 | $1,014,795 | -201,268 (-16.6%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $1,014,795 | $970,000 | $44,795 | — | $1,014,795 | $1,014,795 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $1,013,386 | $970,000 | $43,386 | — | $1,013,386 | $1,013,386 | ~$20,739 | Partial |
| 2024 | $1,057,341 | — | — | −$87,341 | $970,000 | $— | $20,728 | Verified |
| 2023 | $1,039,434 | — | — | −$69,434 | $970,000 | $— | $19,130 | Verified |
| 2022 | $1,076,001 | — | — | −$106,001 | $970,000 | $— | $20,528 | Verified |
| 2021 | $1,070,901 | — | — | −$100,901 | $970,000 | $— | $23,421 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +55.8% | +20.0% | 77.0% | Not available | Partial |
| 2025 | -3.1% | -3.1% | ~100% | Not available | Partial |
| 2024 | -1.1% | -1.1% | ~100% | 1.9800% | Verified |
| 2023 | -3.8% | -3.8% | ~100% | 1.8100% | Verified |
| 2022 | +2.1% | +2.1% | ~100% | 1.8700% | Verified |
| 2021 | base year | — | ~100% | 2.1900% | Verified |
| Cumulative market value growth (earliest valid year → 2025): -5.8% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +0.1% | -1.1% | -1.4% | +1.7% | 2024 | -4.2% | 2025 |
| Assessment Ratio | 100.0% | 94.3% | — | 100.0% | 2025 | 90.1% | 2022 |
| 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 |
$20,739 | $20,909 | ~$18,960 | $23,421 | 2021 | $19,130 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$999,497 | ~$999,497 | ~2.0139% | ~$20,129 | -1.4% |
| 2027 | ~$985,797 | ~$985,797 | ~1.9814% | ~$19,532 | -2.7% |
| 2028 | ~$972,286 | ~$972,286 | ~1.9488% | ~$18,948 | -4.1% |
| 2029 | ~$958,960 | ~$958,960 | ~1.9163% | ~$18,376 | -5.4% |
| 2030 | ~$945,816 | ~$945,816 | ~1.8837% | ~$17,817 | -6.7% |
| 2026 | ~$979,229 | ~$979,229 | ~2.0465% | ~$20,040 | -3.4% |
| 2027 | ~$946,223 | ~$946,223 | ~2.0465% | ~$19,364 | -6.6% |
| 2028 | ~$914,330 | ~$914,330 | ~2.0465% | ~$18,712 | -9.8% |
| 2029 | ~$883,511 | ~$883,511 | ~2.0465% | ~$18,081 | -12.8% |
| 2030 | ~$853,732 | ~$853,732 | ~2.0465% | ~$17,471 | -15.8% |
| 2026 | ~$1,019,764 | ~$1,019,764 | ~1.9977% | ~$20,371 | +0.6% |
| 2027 | ~$1,026,183 | ~$1,026,183 | ~1.9488% | ~$19,999 | +1.3% |
| 2028 | ~$1,032,641 | ~$1,032,641 | ~1.9000% | ~$19,620 | +1.9% |
| 2029 | ~$1,039,141 | ~$1,039,141 | ~1.8512% | ~$19,237 | +2.5% |
| 2030 | ~$1,045,681 | ~$1,045,681 | ~1.8024% | ~$18,847 | +3.2% |
In 2025, this property's market value of $1,013,386 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — +95% 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 | $1,013,386 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $1,057,341 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $1,039,434 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $1,076,001 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $1,070,901 | $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.