ELROY RD TX 78617
| Owner | TCHFC CYPRESS CREEK LAND LLC |
|---|---|
| Parcel ID | 0334361501 |
| Short ID | 755469 |
| Type | Real |
| Use Code | 08 Apartment 100+ Units |
| Valuation | Income |
| Improvement SF | 231,000 SF |
| Land SF | 569,416 SF |
| Acres | 13.072 |
| Year Built | 2023 |
| Legal | ABS 61 SUR 1 BAIN N M ACR 12.3768 PLUS 1.0112AC OF VAC ROW (TOTAL 13.388AC) |
| Neighborhood | _RGN415 |
| Land | $2,847,082 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $2,847,082 |
| Improvement | $51,842,918 |
|---|---|
| Total Improvement | $51,842,918 |
| Market | $54,690,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $54,690,000 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $54,690,000 |
| Taxable Value | $54,690,000 |
|---|
Appreciation: Market value has risen +25431.4% from $214,207 (2021) to $54,690,000 (2025), a CAGR of 299.7% over 4 years. This is strong appreciation — well above typical inflation. 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 outpaced the broader multi-family market over the same period.
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 5% of market value ($2,847,082 land vs $51,842,918 improvements), about $5/SF of land. Most value sits in the improvements, so building condition, age (~3 yrs), and rent roll drive the underwriting.
Submarket Position: At $54,690,000, 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 +1151.6% Base-scenario CAGR (Based on 2022–2025 certified trend, projected forward from 2025), the model projects market value near $16,797,228,703,783 by 2030, with an estimated annual tax burden around $0. 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.
1 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 231,000 SF | ✓ |
Market value changed by 773% in 2023, flagged as unusually large. Verify against comparable sales before using this value in underwriting.
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $54,862,500 | $54,690,000 | +0.3% |
| Assessed Value | $54,862,500 | $54,690,000 | +0.3% |
| Land Value | $2,847,082 | $2,847,082 | +0.0% |
| Improvement Value | $52,015,418 | $51,842,918 | +0.3% |
| Taxable Value | — | — | — |
| Exemptions | — | E | |
| Total Tax | Pending certification | — | |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $54,862,500 | $54,862,500 | +0 (+0.0%) |
| Taxable Value | — | — | — |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $54,862,500 | $2,847,082 | $52,015,418 | — | $54,862,500 | $— | Not yet — post-cert | Certified — no billing yet |
| 2025 | $54,690,000 | $2,847,082 | $51,842,918 | — | $54,690,000 | $— | not in county billing file ⓘ | Partial |
| 2024 | $4,369,603 | — | — | — | — | $— | not in county billing file ⓘ | Partial |
| 2023 | $— | — | — | — | — | $— | not in county billing file ⓘ | Partial |
| 2022 | $— | — | — | — | $500,752 | $— | $2,243 | Verified |
| 2021 | $214,207 | — | — | — | $375,069 ! | $— | $10,165 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +0.3% | +0.3% | ~100% | Not available | Partial |
| 2025 | +166.8% ! | +166.8% | ~100% | Not available | Partial |
| 2024 | +369.1% ! | +369.1% | ~100% | No billing data | Verified |
| 2023 | +772.6% ! | +772.6% | ~100% | No billing data | Verified |
| 2022 | +33.5% | +33.5% | ~100% | 0.4500% | Verified |
| 2021 | base year | — | ~100% | 4.7500% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +14481.3% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +0.3% | +1030.6% | +1150.8% | +1939.9% | 2024 | +0.3% | 2026 |
| Assessment Ratio | 100.0% | 125.0% | — | 175.1% | 2021 | 100.0% | 2025 |
|
Effective Tax Rate (2025)
⚑ Billing data available for 2025 only |
— | — | — | — | — | — | — |
| Tax Amount | $10,165 | $10,165 | — | $10,165 | 2021 | $10,165 | 2021 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$684,500,651 | ~$684,500,651 | ~0.0000% | ~$0 | +1151.6% |
| 2027 | ~$8,567,217,806 | ~$8,567,217,806 | ~0.0000% | ~$0 | +15565.1% |
| 2028 | ~$107,227,393,841 | ~$107,227,393,841 | ~0.0000% | ~$0 | +195964.0% |
| 2029 | ~$1,342,059,260,116 | ~$1,342,059,260,116 | ~0.0000% | ~$0 | +2453839.0% |
| 2030 | ~$16,797,228,703,783 | ~$16,797,228,703,783 | ~0.0000% | ~$0 | +30713428.4% |
| 2026 | ~$683,406,851 | ~$683,406,851 | ~0.0000% | ~$0 | +1149.6% |
| 2027 | ~$8,539,859,656 | ~$8,539,859,656 | ~0.0000% | ~$0 | +15515.0% |
| 2028 | ~$106,714,181,736 | ~$106,714,181,736 | ~0.0000% | ~$0 | +195025.6% |
| 2029 | ~$1,333,501,608,036 | ~$1,333,501,608,036 | ~0.0000% | ~$0 | +2438191.5% |
| 2030 | ~$16,663,451,002,517 | ~$16,663,451,002,517 | ~0.0000% | ~$0 | +30468817.5% |
| 2026 | ~$685,594,451 | ~$685,594,451 | ~0.0000% | ~$0 | +1153.6% |
| 2027 | ~$8,594,619,708 | ~$8,594,619,708 | ~0.0000% | ~$0 | +15615.2% |
| 2028 | ~$107,742,248,748 | ~$107,742,248,748 | ~0.0000% | ~$0 | +196905.4% |
| 2029 | ~$1,350,658,034,859 | ~$1,350,658,034,859 | ~0.0000% | ~$0 | +2469561.8% |
| 2030 | ~$16,931,864,225,295 | ~$16,931,864,225,295 | ~0.0000% | ~$0 | +30959607.9% |
In 2025, this property's market value of $54,690,000 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 105× 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 | $54,690,000 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $4,369,603 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | — | $503,905 | $617,035 | $919,932 | — | +0.9% |
| 2022 | — | $506,618 | $615,058 | $906,429 | — | +39.1% |
| 2021 | $214,207 | $300,453 | $376,850 | $539,896 | ↓ Bottom 25% | base yr |