1003 JUSTIN LN TX 78757
| Owner | ML CASA V LP |
|---|---|
| Parcel ID | 0231080407 |
| Short ID | 232010 |
| Type | Real |
| Use Code | 08 Apartment 100+ Units |
| Valuation | Income |
| Improvement SF | 197,280 SF |
| Land SF | 453,024 SF |
| Acres | 10.400 |
| Year Built | 1984 |
| Legal | LOT 2-3 JOSEPH CATER SUBD SEC 1 |
| Neighborhood | 08NC1 |
| Land | $18,120,960 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $18,120,960 |
| Improvement | $28,879,040 |
|---|---|
| Total Improvement | $28,879,040 |
| Market | $47,000,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $47,000,000 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $47,000,000 |
| Taxable Value | $47,000,000 |
|---|
Appreciation: Market value has risen +15.9% from $40,560,437 (2021) to $47,000,000 (2025), a CAGR of 3.8% over 4 years. Growth has been relatively flat for this asset class. Most of this growth came in a single year (2021→2023), 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 $961,848. 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 ($18,120,960 land vs $28,879,040 improvements), about $40/SF of land. Most value sits in the improvements, so building condition, age (~42 yrs), and rent roll drive the underwriting.
Submarket Position: At $47,000,000, 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 +3.8% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $56,505,653 by 2030, with an estimated annual tax burden around $1,064,421. 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.
25 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| SO | Sketch Only | 338,386 SF | ✗ |
| 551 | PAVED AREA | 208,000 SF | ✗ |
| 1ST | 1st Floor | 94,244 SF | ✓ |
| 2ND | 2nd Floor | 92,172 SF | ✓ |
| 591 | MASONRY TRIM SF | 34,905 SF | ✗ |
| 011C | PORCH OPEN 1ST COMM | 17,636 SF | ✗ |
| 012C | PORCH OPEN 2 COMM | 14,836 SF | ✗ |
| 3RD | 3rd Floor | 10,863 SF | ✓ |
| 581C | STORAGE ATT COMM | 6,690 SF | ✓ |
| 511 | DECK | 5,344 SF | ✗ |
| 611 | TERRACE | 3,941 SF | ✗ |
| 013C | PORCH OPEN 3 COMM | 2,936 SF | ✗ |
| 541 | FENCE COMM LF | 2,088 SF | ✗ |
| 601 | POOL COMM'L | 1,434 SF | ✗ |
| 571C | STORAGE DET COMM | 96 SF | ✓ |
| MISC | Miscellaneous | 16 SF | ✓ |
| 521 | FIREPLACE | 3 SF | ✓ |
| 152 | COMMODE AVG | 2 SF | ✓ |
| 162 | LAVATORY AVG | 2 SF | ✓ |
| 132 | PLBG 5-FIXT AVG | 1 SF | ✓ |
| 142 | BATHTUB AVG | 1 SF | ✓ |
| 242 | OBS OVEN/BURN | 1 SF | ✓ |
| 413 | STAIRWAY EXT | 1 SF | ✓ |
| 182 | SINK AVG | 1 SF | ✓ |
| 449 | SPA | 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% | $416,340.00 | $416,340.00 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $235,807.65 | $235,807.65 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $169,130.25 | $169,130.25 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $53,110.35 | $53,110.35 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $46,530.00 | $46,530.00 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $920,918.25 | $920,918.25 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $44,370,000 | $47,000,000 | -5.6% |
| Assessed Value | $44,370,000 | $47,000,000 | -5.6% |
| Land Value | $18,120,960 | $18,120,960 | +0.0% |
| Improvement Value | $26,249,040 | $28,879,040 | -9.1% |
| Taxable Value | $44,370,000 | $47,000,000 | -5.6% |
| Total Tax 2026 = estimate |
~$908,025
Estimated
|
~$920,918
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $45,078,572 | $44,370,000 | -708,572 (-1.6%) |
| Taxable Value | $45,078,572 | $44,370,000 | -708,572 (-1.6%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $44,370,000 | $18,120,960 | $26,249,040 | — | $44,370,000 | $44,370,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $47,000,000 | $18,120,960 | $28,879,040 | — | $47,000,000 | $47,000,000 | ~$920,918 | Partial |
| 2024 | $49,000,000 | — | — | −$30,879,040 | $18,120,960 | $— | $924,775 | Verified |
| 2023 | $46,880,000 | — | — | −$28,759,040 | $18,120,960 | $— | $890,534 | Verified |
| 2022 | $— | — | — | — | $18,120,960 | $— | $871,809 | Verified |
| 2021 | $40,560,437 | — | — | −$22,439,477 | $18,120,960 | $— | $867,565 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -4.1% | -4.1% | ~100% | Not available | Partial |
| 2025 | -5.4% | -5.4% | ~100% | Not available | Partial |
| 2024 | -8.6% | -8.6% | ~100% | 1.8600% | Verified |
| 2023 | +16.0% | +16.0% | ~100% | 1.6400% | Verified |
| 2022 | +14.4% | +14.4% | ~100% | 1.8600% | Verified |
| 2021 | base year | — | ~100% | 2.1400% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +14.7% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -5.6% | +2.6% | +5.0% | +15.6% | 2023 | -5.6% | 2026 |
| Assessment Ratio | 100.0% | 64.1% | — | 100.0% | 2025 | 37.0% | 2024 |
| Effective Tax Rate (2025) | 1.9600% | 1.9600% | — | 1.9600% | 2025 | 1.9600% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$920,918 | $900,948 | ~$1,023,117 | $924,775 | 2024 | $867,565 | 2021 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$48,763,702 | ~$48,763,702 | ~2.0139% | ~$982,070 | +3.8% |
| 2027 | ~$50,593,587 | ~$50,593,587 | ~1.9814% | ~$1,002,455 | +7.6% |
| 2028 | ~$52,492,140 | ~$52,492,140 | ~1.9488% | ~$1,022,988 | +11.7% |
| 2029 | ~$54,461,938 | ~$54,461,938 | ~1.9163% | ~$1,043,649 | +15.9% |
| 2030 | ~$56,505,653 | ~$56,505,653 | ~1.8837% | ~$1,064,421 | +20.2% |
| 2026 | ~$47,823,702 | ~$47,823,702 | ~2.0465% | ~$978,705 | +1.8% |
| 2027 | ~$48,661,839 | ~$48,661,839 | ~2.0465% | ~$995,857 | +3.5% |
| 2028 | ~$49,514,666 | ~$49,514,666 | ~2.0465% | ~$1,013,310 | +5.4% |
| 2029 | ~$50,382,438 | ~$50,382,438 | ~2.0465% | ~$1,031,069 | +7.2% |
| 2030 | ~$51,265,419 | ~$51,265,419 | ~2.0465% | ~$1,049,139 | +9.1% |
| 2026 | ~$49,703,702 | ~$49,703,702 | ~1.9977% | ~$992,912 | +5.8% |
| 2027 | ~$52,562,935 | ~$52,562,935 | ~1.9488% | ~$1,024,367 | +11.8% |
| 2028 | ~$55,586,648 | ~$55,586,648 | ~1.9000% | ~$1,056,156 | +18.3% |
| 2029 | ~$58,784,302 | ~$58,784,302 | ~1.8512% | ~$1,088,211 | +25.1% |
| 2030 | ~$62,165,902 | ~$62,165,902 | ~1.8024% | ~$1,120,460 | +32.3% |
In 2025, this property's market value of $47,000,000 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 90× 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 | $47,000,000 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $49,000,000 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $46,880,000 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | — | $506,618 | $615,058 | $906,429 | — | +39.1% |
| 2021 | $40,560,437 | $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.