705 NELRAY BLVD TX 78751
| Owner | AUSTIN NELRAY LLC |
|---|---|
| Parcel ID | 0226070603 |
| Short ID | 226604 |
| Type | Real |
| Use Code | 03 Triplex |
| Valuation | Income |
| Improvement SF | 3,770 SF |
| Land SF | 8,356 SF |
| Acres | 0.192 |
| Year Built | 2006 |
| Legal | LOT 44 NORTHFIELD ADDN |
| Neighborhood | Y1005 |
| Land | $447,124 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $447,124 |
| Improvement | $711,547 |
|---|---|
| Total Improvement | $711,547 |
| Market | $1,158,671 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $1,158,671 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $1,158,671 |
| Taxable Value | $1,158,671 |
|---|
Appreciation: Market value has risen +62.5% from $713,200 (2021) to $1,158,671 (2025), a CAGR of 12.9% over 4 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 Multi-Family parcel countywide rose +37.9%, so this parcel has outpaced 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 $23,712. 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 39% of market value ($447,124 land vs $711,547 improvements), about $54/SF of land. Most value sits in the improvements, so building condition, age (~20 yrs), and rent roll drive the underwriting.
Submarket Position: At $1,158,671, 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 +12.9% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $2,125,182 by 2030, with an estimated annual tax burden around $35,152. 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.
8 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 095 | HVAC RESIDENTIAL | 3,770 SF | ✗ |
| 2ND | 2nd Floor | 1,968 SF | ✓ |
| 1ST | 1st Floor | 1,802 SF | ✓ |
| 041 | GARAGE ATT 1ST F | 704 SF | ✓ |
| 012 | PORCH OPEN 2ND F | 106 SF | ✗ |
| 011 | PORCH OPEN 1ST F | 92 SF | ✗ |
| 612 | TERRACE UNCOVERD | 72 SF | ✗ |
| 251 | BATHROOM | 6 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% | $10,720.02 | $10,720.02 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $6,071.63 | $6,071.63 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $4,354.81 | $4,354.81 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $1,367.50 | $1,367.50 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $1,198.07 | $1,198.07 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $23,712.03 | $23,712.03 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $1,007,829 | $1,158,671 | -13.0% |
| Assessed Value | $1,007,829 | $1,158,671 | -13.0% |
| Land Value | $391,233 | $447,124 | -12.5% |
| Improvement Value | $616,596 | $711,547 | -13.3% |
| Taxable Value | $1,007,829 | $1,158,671 | -13.0% |
| Total Tax 2026 = estimate |
~$20,625
Estimated
|
~$23,712
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $1,161,227 | $1,007,829 | -153,398 (-13.2%) |
| Taxable Value | $1,161,227 | $1,007,829 | -153,398 (-13.2%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $1,007,829 | $391,233 | $616,596 | — | $1,007,829 | $1,007,829 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $1,158,671 | $447,124 | $711,547 | — | $1,158,671 | $1,158,671 | ~$23,712 | Partial |
| 2024 | $1,422,983 | — | — | −$927,983 | $495,000 | $— | $27,595 | Verified |
| 2023 | $1,100,432 | — | — | −$605,432 | $495,000 | $— | $25,745 | Verified |
| 2022 | $1,014,360 | — | — | −$519,360 | $495,000 | $— | $21,733 | Verified |
| 2021 | $713,200 | — | — | −$410,700 | $302,500 | $— | $22,079 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +0.2% | +0.2% | ~100% | Not available | Partial |
| 2025 | -16.8% | -16.8% | ~100% | Not available | Partial |
| 2024 | -2.1% | -2.1% | ~100% | 1.9800% | Verified |
| 2023 | +29.3% | +29.3% | ~100% | 1.8100% | Verified |
| 2022 | +8.5% | +8.5% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 3.1000% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +14.2% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -13.0% | +9.7% | +16.3% | +42.2% | 2022 | -18.6% | 2025 |
| Assessment Ratio | 100.0% | 61.8% | — | 100.0% | 2025 | 34.8% | 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 |
$23,712 | $24,173 | ~$30,232 | $27,595 | 2024 | $21,733 | 2022 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$1,308,119 | ~$1,274,538 | ~2.0139% | ~$25,668 | +12.9% |
| 2027 | ~$1,476,844 | ~$1,401,992 | ~1.9814% | ~$27,779 | +27.5% |
| 2028 | ~$1,667,331 | ~$1,542,191 | ~1.9488% | ~$30,055 | +43.9% |
| 2029 | ~$1,882,387 | ~$1,696,410 | ~1.9163% | ~$32,508 | +62.5% |
| 2030 | ~$2,125,182 | ~$1,866,051 | ~1.8837% | ~$35,152 | +83.4% |
| 2026 | ~$1,284,946 | ~$1,274,538 | ~2.0465% | ~$26,083 | +10.9% |
| 2027 | ~$1,424,982 | ~$1,401,992 | ~2.0465% | ~$28,692 | +23.0% |
| 2028 | ~$1,580,281 | ~$1,542,191 | ~2.0465% | ~$31,561 | +36.4% |
| 2029 | ~$1,752,503 | ~$1,696,410 | ~2.0465% | ~$34,717 | +51.3% |
| 2030 | ~$1,943,496 | ~$1,866,051 | ~2.0465% | ~$38,188 | +67.7% |
| 2026 | ~$1,331,293 | ~$1,274,538 | ~1.9977% | ~$25,461 | +14.9% |
| 2027 | ~$1,529,632 | ~$1,401,992 | ~1.9488% | ~$27,323 | +32.0% |
| 2028 | ~$1,757,520 | ~$1,542,191 | ~1.9000% | ~$29,302 | +51.7% |
| 2029 | ~$2,019,360 | ~$1,696,410 | ~1.8512% | ~$31,404 | +74.3% |
| 2030 | ~$2,320,209 | ~$1,866,051 | ~1.8024% | ~$33,633 | +100.2% |
In 2025, this property's market value of $1,158,671 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — +123% 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 | $1,158,671 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $1,422,983 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $1,100,432 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $1,014,360 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $713,200 | $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.