2708 S 1 ST TX 78704
| Owner | SOUTH 1ST FLATS LLC |
|---|---|
| Parcel ID | 0404040832 |
| Short ID | 305737 |
| Type | Real |
| Use Code | 05 Apartment 5–25 Units |
| Valuation | Income |
| Improvement SF | 8,632 SF |
| Land SF | 13,464 SF |
| Acres | 0.309 |
| Year Built | 1981 |
| Legal | LOT 1 *& LOT 2 * LESS E 8FT BLK F OAK RIDGE HEIGHTS SEC 1 |
| Neighborhood | 05SC1 |
| Land | $1,750,320 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $1,750,320 |
| Improvement | $105,560 |
|---|---|
| Total Improvement | $105,560 |
| Market | $1,855,880 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $1,855,880 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $1,855,880 |
| Taxable Value | $1,855,880 |
|---|
Appreciation: Market value has risen +10.3% from $1,683,240 (2021) to $1,855,880 (2025), a CAGR of 2.5% over 4 years. Growth has been relatively flat for this asset class. Most of this growth came in a single year (2022→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 $37,980. 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 94% of market value ($1,750,320 land vs $105,560 improvements), about $130/SF of land. With value concentrated in the land under a ~45-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 $1,855,880, 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 +2.5% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $2,096,789 by 2030, with an estimated annual tax burden around $39,498. 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.
11 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 551 | PAVED AREA | 7,200 SF | ✗ |
| 1ST | 1st Floor | 4,316 SF | ✓ |
| 2ND | 2nd Floor | 4,316 SF | ✓ |
| 591 | MASONRY TRIM SF | 2,520 SF | ✗ |
| SO | Sketch Only | 244 SF | ✗ |
| 541 | FENCE COMM LF | 150 SF | ✗ |
| 011C | PORCH OPEN 1ST COMM | 122 SF | ✗ |
| 012C | PORCH OPEN 2 COMM | 122 SF | ✗ |
| 132 | PLBG 5-FIXT AVG | 1 SF | ✓ |
| 242 | OBS OVEN/BURN | 1 SF | ✓ |
| 413 | STAIRWAY EXT | 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% | $17,170.60 | $17,170.60 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $9,725.13 | $9,725.13 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $6,975.23 | $6,975.23 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $2,190.37 | $2,190.37 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $1,918.98 | $1,918.98 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $37,980.31 | $37,980.31 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $1,855,880 | $1,855,880 | +0.0% |
| Assessed Value | $1,855,880 | $1,855,880 | +0.0% |
| Land Value | $1,750,320 | $1,750,320 | +0.0% |
| Improvement Value | $105,560 | $105,560 | +0.0% |
| Taxable Value | $1,855,880 | $1,855,880 | +0.0% |
| Total Tax 2026 = estimate |
~$37,980
Estimated
|
~$37,980
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $2,028,520 | $1,855,880 | -172,640 (-8.5%) |
| Taxable Value | $2,028,520 | $1,855,880 | -172,640 (-8.5%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $1,855,880 | $1,750,320 | $105,560 | — | $1,855,880 | $1,855,880 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $1,855,880 | $1,750,320 | $105,560 | — | $1,855,880 | $1,855,880 | ~$37,980 | Partial |
| 2024 | $2,071,680 | — | — | −$321,360 | $1,750,320 | $— | $36,621 | Verified |
| 2023 | $1,942,200 | — | — | −$191,880 | $1,750,320 | $— | $37,482 | Verified |
| 2022 | $1,640,080 | — | — | −$697,600 | $942,480 | $— | $38,357 | Verified |
| 2021 | $1,683,240 | — | — | −$740,760 | $942,480 | $— | $35,699 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +9.3% | +9.3% | ~100% | Not available | Partial |
| 2025 | -4.6% | -4.6% | ~100% | Not available | Partial |
| 2024 | -6.1% | -6.1% | ~100% | 1.8800% | Verified |
| 2023 | +6.7% | +6.7% | ~100% | 1.8100% | Verified |
| 2022 | +18.4% | +18.4% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 2.1200% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +13.2% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +0.0% | +2.4% | +2.5% | +18.4% | 2023 | -10.4% | 2025 |
| Assessment Ratio | 100.0% | 81.4% | — | 100.0% | 2025 | 56.0% | 2021 |
| 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 |
$37,980 | $37,228 | ~$38,908 | $38,357 | 2022 | $35,699 | 2021 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$1,901,739 | ~$1,901,739 | ~2.0139% | ~$38,300 | +2.5% |
| 2027 | ~$1,948,731 | ~$1,948,731 | ~1.9814% | ~$38,612 | +5.0% |
| 2028 | ~$1,996,884 | ~$1,996,884 | ~1.9488% | ~$38,916 | +7.6% |
| 2029 | ~$2,046,227 | ~$2,046,227 | ~1.9163% | ~$39,212 | +10.3% |
| 2030 | ~$2,096,789 | ~$2,096,789 | ~1.8837% | ~$39,498 | +13.0% |
| 2026 | ~$1,864,621 | ~$1,864,621 | ~2.0465% | ~$38,159 | +0.5% |
| 2027 | ~$1,873,403 | ~$1,873,403 | ~2.0465% | ~$38,339 | +0.9% |
| 2028 | ~$1,882,227 | ~$1,882,227 | ~2.0465% | ~$38,519 | +1.4% |
| 2029 | ~$1,891,092 | ~$1,891,092 | ~2.0465% | ~$38,701 | +1.9% |
| 2030 | ~$1,899,999 | ~$1,899,999 | ~2.0465% | ~$38,883 | +2.4% |
| 2026 | ~$1,938,856 | ~$1,938,856 | ~1.9977% | ~$38,732 | +4.5% |
| 2027 | ~$2,025,543 | ~$2,025,543 | ~1.9488% | ~$39,475 | +9.1% |
| 2028 | ~$2,116,105 | ~$2,116,105 | ~1.9000% | ~$40,206 | +14.0% |
| 2029 | ~$2,210,715 | ~$2,210,715 | ~1.8512% | ~$40,925 | +19.1% |
| 2030 | ~$2,309,556 | ~$2,309,556 | ~1.8024% | ~$41,627 | +24.4% |
In 2025, this property's market value of $1,855,880 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 4× 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 | $1,855,880 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $2,071,680 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $1,942,200 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $1,640,080 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $1,683,240 | $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.