601 CARDINAL LN TX 78704
| Owner | SRE FCA MERCURY HALL OWNER LP |
|---|---|
| Parcel ID | 0405050505 |
| Short ID | 307479 |
| Type | Real |
| Use Code | 08 Apartment 100+ Units |
| Valuation | Income |
| Improvement SF | 263,767 SF |
| Land SF | 164,700 SF |
| Acres | 3.781 |
| Year Built | 2025 |
| Legal | LOT 1 & 113'X409' OF LOT 2 BLK 2 FREEWATER ADDN |
| Neighborhood | 96EVNT |
| Land | $16,008,840 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $16,008,840 |
| Improvement | $43,862,336 |
|---|---|
| Total Improvement | $43,862,336 |
| Market | $59,871,176 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $59,871,176 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $59,871,176 |
| Taxable Value | $59,871,176 |
|---|
Appreciation: Market value has risen +803.0% from $6,630,097 (2021) to $59,871,176 (2025), a CAGR of 73.4% 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.
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 $1,225,255. 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 27% of market value ($16,008,840 land vs $43,862,336 improvements), about $97/SF of land. Most value sits in the improvements, so building condition, age (~1 yrs), and rent roll drive the underwriting.
Submarket Position: At $59,871,176, 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 +73.3% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $937,217,031 by 2030, with an estimated annual tax burden around $1,816,363. 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.
2 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 263,767 SF | ✓ |
| 187 | PARKING GARAGE | 115,222 SF | ✓ |
Market value changed by 223% in 2023, flagged as unusually large. Verify against comparable sales before using this value in underwriting.
| 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% | $527,364.00 | $527,364.00 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $298,689.69 | $298,689.69 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $214,231.65 | $214,231.65 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $67,273.11 | $67,273.11 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $58,938.00 | $58,938.00 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $1,166,496.45 | $1,166,496.45 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $61,780,000 | $59,871,176 | +3.2% |
| Assessed Value | $61,780,000 | $59,871,176 | +3.2% |
| Land Value | $16,008,840 | $16,008,840 | +0.0% |
| Improvement Value | $45,771,160 | $43,862,336 | +4.4% |
| Taxable Value | $61,780,000 | $59,871,176 | +3.2% |
| Total Tax 2026 = estimate |
~$1,264,318
Estimated
|
~$1,166,496
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $61,780,000 | $61,780,000 | +0 (+0.0%) |
| Taxable Value | $61,780,000 | $61,780,000 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $61,780,000 | $16,008,840 | $45,771,160 | — | $61,780,000 | $61,780,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $59,871,176 | $16,008,840 | $43,862,336 | — | $59,871,176 | $59,871,176 | ~$1,166,496 | Partial |
| 2024 | $21,796,000 | — | — | −$9,352,180 | $12,443,820 | $— | $527,920 | Verified |
| 2023 | $6,741,403 | — | — | — | $12,443,820 ! | $— | $394,343 | Verified |
| 2022 | $6,974,000 | — | — | −$233,597 | $6,740,403 | $— | $133,138 | Verified |
| 2021 | $6,630,097 | — | — | — | $6,740,403 ! | $— | $146,125 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +3.2% | +3.2% | ~100% | Not available | Partial |
| 2025 | +124.8% ! | +124.8% | ~100% | Not available | Partial |
| 2024 | +22.2% | +22.2% | ~100% | 1.9800% | Verified |
| 2023 | +223.3% ! | +223.3% | ~100% | 1.8100% | Verified |
| 2022 | -3.8% | -3.8% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 2.2000% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +754.7% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +3.2% | +80.6% | +72.3% | +223.3% | 2024 | -3.3% | 2023 |
| Assessment Ratio | 100.0% | 106.7% | — | 184.6% | 2023 | 57.1% | 2024 |
| Effective Tax Rate (2025) | 1.9500% | 1.9500% | — | 1.9500% | 2025 | 1.9500% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$1,166,496 | $473,604 | ~$1,562,176 | $1,166,496 | 2025 | $133,138 | 2022 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$103,786,834 | ~$65,858,294 | ~2.0139% | ~$1,326,344 | +73.4% |
| 2027 | ~$179,914,739 | ~$72,444,123 | ~1.9814% | ~$1,435,399 | +200.5% |
| 2028 | ~$311,882,652 | ~$79,688,535 | ~1.9488% | ~$1,553,002 | +420.9% |
| 2029 | ~$540,649,362 | ~$87,657,389 | ~1.9163% | ~$1,679,771 | +803.0% |
| 2030 | ~$937,217,031 | ~$96,423,128 | ~1.8837% | ~$1,816,363 | +1465.4% |
| 2026 | ~$102,589,411 | ~$65,858,294 | ~2.0465% | ~$1,347,780 | +71.4% |
| 2027 | ~$175,787,214 | ~$72,444,123 | ~2.0465% | ~$1,482,558 | +193.6% |
| 2028 | ~$301,211,833 | ~$79,688,535 | ~2.0465% | ~$1,630,814 | +403.1% |
| 2029 | ~$516,127,234 | ~$87,657,389 | ~2.0465% | ~$1,793,895 | +762.1% |
| 2030 | ~$884,385,315 | ~$96,423,128 | ~2.0465% | ~$1,973,285 | +1377.1% |
| 2026 | ~$104,984,258 | ~$65,858,294 | ~1.9977% | ~$1,315,626 | +75.4% |
| 2027 | ~$184,090,160 | ~$72,444,123 | ~1.9488% | ~$1,411,820 | +207.5% |
| 2028 | ~$322,802,560 | ~$79,688,535 | ~1.9000% | ~$1,514,096 | +439.2% |
| 2029 | ~$566,035,101 | ~$87,657,389 | ~1.8512% | ~$1,622,708 | +845.4% |
| 2030 | ~$992,543,974 | ~$96,423,128 | ~1.8024% | ~$1,737,903 | +1557.8% |
In 2025, this property's market value of $59,871,176 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 115× 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 | $59,871,176 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $21,796,000 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $6,741,403 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $6,974,000 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $6,630,097 | $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.