602 W OLTORF ST TX 78704
| Owner | SERENDIPITY PROPERTIES INC |
|---|---|
| Parcel ID | 0402030919 |
| Short ID | 303798 |
| Type | Real |
| Use Code | 83 Service / Repair Garage |
| Valuation | Income |
| Improvement SF | 3,150 SF |
| Land SF | 5,300 SF |
| Acres | 0.122 |
| Year Built | 1950 |
| Legal | LOT 7 LESS S 650SQ FT BLK B LOMA LINDA |
| Neighborhood | 83CEN |
| Land | $530,000 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $530,000 |
| Improvement | $88,930 |
|---|---|
| Total Improvement | $88,930 |
| Market | $618,930 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $618,930 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $618,930 |
| Taxable Value | $618,930 |
|---|
| Total Due | $14,566.26 |
|---|---|
| First Delinquent | — |
Appreciation: Market value has risen +68.0% from $368,407 (2021) to $618,930 (2025), a CAGR of 13.8% 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 Commercial parcel countywide rose +24.1%, so this parcel has outpaced the broader commercial 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 $12,666. Austin ISD is the largest single contributor, at 45.2% of the total 2025 levy.
Asset Class: Commercial. No homestead exemptions apply — full market value is taxable. 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 86% of market value ($530,000 land vs $88,930 improvements), about $100/SF of land. With value concentrated in the land under a ~76-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 $618,930, this parcel sits in the bottom quartile (<25th percentile) of Commercial property in Travis County — county median $1,417,484 (P25 $649,268 / P75 $3,347,260, n=13,608). Commercial here is the broad TCAD category — every commercial 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 +13.8% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $1,183,814 by 2030, with an estimated annual tax burden around $18,777. Estimated Forward figures are model projections, not certified — see the 6-Year Projection section for the low/base/high bands.
Delinquent Taxes: $14,566.26 in unpaid taxes . These become a lien on the property and transfer to the buyer at closing unless negotiated otherwise.
3 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 3,150 SF | ✓ |
| SO | Sketch Only | 1,080 SF | ✗ |
| 093 | HVAC COMMRCL SF | 1,080 SF | ✗ |
| Entity | 2024 Rate | 2025 Rate | Rate Effect |
|---|---|---|---|
| City of Austin | 0.4776% | 0.5240% | +287 |
| Travis County | 0.3444% | 0.3758% | +194 |
| Austin ISD | 0.9505% | 0.9252% | -157 |
| Travis Central Health | 0.1080% | 0.1180% | +62 |
| Austin Community College | 0.1013% | 0.1034% | +13 |
This parcel has unpaid taxes on record. Delinquent taxes are a lien on the property and transfer to the buyer at closing unless negotiated otherwise.
| 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% | $5,726.34 | $— | $5,726.34 |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $3,243.30 | $— | $3,243.30 |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $2,326.22 | $— | $2,326.22 |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $730.48 | $— | $730.48 |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $639.97 | $— | $639.97 |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $12,666.31 | $0.00 | $12,666.31 |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $679,135 | $618,930 | +9.7% |
| Assessed Value | $679,135 | $618,930 | +9.7% |
| Land Value | $530,000 | $530,000 | +0.0% |
| Improvement Value | $149,135 | $88,930 | +67.7% |
| Taxable Value | $679,135 | $618,930 | +9.7% |
| Total Tax 2026 = estimate |
~$13,898
Estimated
|
$12,666 | ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $679,135 | $679,135 | +0 (+0.0%) |
| Taxable Value | $679,135 | $679,135 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $679,135 | $530,000 | $149,135 | — | $679,135 | $679,135 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $618,930 | $530,000 | $88,930 | — | $618,930 | $618,930 | $12,666 | Verified |
| 2024 | $623,340 | — | — | −$93,340 | $530,000 | $— | $12,225 | Verified |
| 2023 | $413,442 | — | — | — | $530,000 ! | $— | $11,278 | Verified |
| 2022 | $421,932 | — | — | −$50,932 | $371,000 | $— | $8,165 | Verified |
| 2021 | $368,407 | — | — | — | $371,000 ! | $— | $9,184 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +9.7% | +9.7% | ~100% | Not available | Partial |
| 2025 | +0.3% | +0.3% | ~100% | 2.0500% | Verified |
| 2024 | -1.0% | -1.0% | ~100% | 1.9800% | Verified |
| 2023 | +38.4% | +38.4% | ~100% | 1.8100% | Verified |
| 2022 | +6.8% | +6.8% | ~100% | 1.8100% | Verified |
| 2021 | base year | — | ~100% | 2.4900% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +46.7% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +9.7% | +14.5% | +11.8% | +50.8% | 2024 | -2.0% | 2023 |
| Assessment Ratio | 100.0% | 100.3% | — | 128.2% | 2023 | 85.0% | 2024 |
| Effective Tax Rate (2025) | 2.0500% | 2.0500% | — | 2.0500% | 2025 | 2.0500% | 2025 |
| Tax Amount | $12,666 | $10,704 | ~$16,149 | $12,666 | 2025 | $8,165 | 2022 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$704,644 | ~$680,823 | ~2.0139% | ~$13,711 | +13.8% |
| 2027 | ~$802,229 | ~$748,905 | ~1.9814% | ~$14,839 | +29.6% |
| 2028 | ~$913,328 | ~$823,796 | ~1.9488% | ~$16,054 | +47.6% |
| 2029 | ~$1,039,813 | ~$906,175 | ~1.9163% | ~$17,365 | +68.0% |
| 2030 | ~$1,183,814 | ~$996,793 | ~1.8837% | ~$18,777 | +91.3% |
| 2026 | ~$692,266 | ~$680,823 | ~2.0465% | ~$13,933 | +11.8% |
| 2027 | ~$774,291 | ~$748,905 | ~2.0465% | ~$15,326 | +25.1% |
| 2028 | ~$866,035 | ~$823,796 | ~2.0465% | ~$16,859 | +39.9% |
| 2029 | ~$968,650 | ~$906,175 | ~2.0465% | ~$18,545 | +56.5% |
| 2030 | ~$1,083,423 | ~$996,793 | ~2.0465% | ~$20,399 | +75.0% |
| 2026 | ~$717,023 | ~$680,823 | ~1.9977% | ~$13,601 | +15.8% |
| 2027 | ~$830,662 | ~$748,905 | ~1.9488% | ~$14,595 | +34.2% |
| 2028 | ~$962,312 | ~$823,796 | ~1.9000% | ~$15,652 | +55.5% |
| 2029 | ~$1,114,827 | ~$906,175 | ~1.8512% | ~$16,775 | +80.1% |
| 2030 | ~$1,291,514 | ~$996,793 | ~1.8024% | ~$17,966 | +108.7% |
In 2025, this property's market value of $618,930 places it in the bottom 25% for Commercial properties in Travis County (13608 comparable) — -56% below the county median of $1,417,484. Commercial here is the broad TCAD category — every commercial 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 | $618,930 | $649,268 | $1,417,484 | $3,347,260 | ↓ Bottom 25% | -0.8% |
| 2024 | $623,340 | $661,016 | $1,438,465 | $3,471,171 | ↓ Bottom 25% | +0.0% |
| 2023 | $413,442 | $667,828 | $1,414,358 | $3,374,900 | ↓ Bottom 25% | +9.7% |
| 2022 | $421,932 | $553,066 | $1,215,730 | $2,939,150 | ↓ Bottom 25% | +3.3% |
| 2021 | $368,407 | $517,750 | $1,142,600 | $2,780,453 | ↓ Bottom 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.