3508 S 1 ST TX 78704
| Owner | SOUTH FIRST TERRACE LLC |
|---|---|
| Parcel ID | 0407060201 |
| Short ID | 309964 |
| Type | Real |
| Use Code | 07 Apartment 50–100 Units |
| Valuation | Income |
| Improvement SF | 31,311 SF |
| Land SF | 84,457 SF |
| Acres | 1.939 |
| Year Built | 1985 |
| Legal | LOT 3 LESS E14.32FT AV OF BLK 2 FREEWATER ADDN |
| Neighborhood | 08SC1 |
| Land | $9,290,270 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $9,290,270 |
| Improvement | $371,481 |
|---|---|
| Total Improvement | $371,481 |
| Market | $9,661,751 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $9,661,751 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $9,661,751 |
| Taxable Value | $9,661,751 |
|---|
Appreciation: Market value has risen +32.4% from $7,300,000 (2021) to $9,661,751 (2025), a CAGR of 7.3% over 4 years. This represents moderate, steady growth. 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 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 $197,726. 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 96% of market value ($9,290,270 land vs $371,481 improvements), about $110/SF of land. With value concentrated in the land under a ~41-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 $9,661,751, 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 +7.3% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $13,715,829 by 2030, with an estimated annual tax burden around $258,371. 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.
22 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| SO | Sketch Only | 56,762 SF | ✗ |
| 551 | PAVED AREA | 38,430 SF | ✗ |
| 2ND | 2nd Floor | 13,047 SF | ✓ |
| 1ST | 1st Floor | 11,072 SF | ✓ |
| 3RD | 3rd Floor | 7,192 SF | ✓ |
| 591 | MASONRY TRIM SF | 4,886 SF | ✗ |
| 511 | DECK | 2,200 SF | ✗ |
| 011C | PORCH OPEN 1ST COMM | 2,200 SF | ✗ |
| 012C | PORCH OPEN 2 COMM | 1,430 SF | ✗ |
| 601 | POOL COMM'L | 544 SF | ✗ |
| 571C | STORAGE DET COMM | 216 SF | ✓ |
| MISC | Miscellaneous | 6 SF | ✓ |
| 132 | PLBG 5-FIXT AVG | 1 SF | ✓ |
| 142 | BATHTUB AVG | 1 SF | ✓ |
| 152 | COMMODE AVG | 1 SF | ✓ |
| 162 | LAVATORY AVG | 1 SF | ✓ |
| 242 | OBS OVEN/BURN | 1 SF | ✓ |
| 282 | LIGHT POLES FV | 1 SF | ✓ |
| 333 | MECHANICAL RM FV | 1 SF | ✓ |
| 539 | FENCE FV | 1 SF | ✗ |
| 619 | TERRACE FV | 1 SF | ✗ |
| 303 | STAIRWAYS FV | 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% | $89,390.52 | $89,390.52 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $50,629.22 | $50,629.22 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $36,313.21 | $36,313.21 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $11,403.09 | $11,403.09 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $9,990.25 | $9,990.25 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $197,726.29 | $197,726.29 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $9,661,751 | $9,661,751 | +0.0% |
| Assessed Value | $9,661,751 | $9,661,751 | +0.0% |
| Land Value | $9,290,270 | $9,290,270 | +0.0% |
| Improvement Value | $371,481 | $371,481 | +0.0% |
| Taxable Value | $9,661,751 | $9,661,751 | +0.0% |
| Total Tax 2026 = estimate |
~$197,726
Estimated
|
~$197,726
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $9,733,757 | $9,661,751 | -72,006 (-0.7%) |
| Taxable Value | $9,733,757 | $9,661,751 | -72,006 (-0.7%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $9,661,751 | $9,290,270 | $371,481 | — | $9,661,751 | $9,661,751 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $9,661,751 | $9,290,270 | $371,481 | — | $9,661,751 | $9,661,751 | ~$197,726 | Partial |
| 2024 | $10,647,000 | — | — | −$1,397,000 | $9,250,000 | $— | $183,318 | Verified |
| 2023 | $8,450,000 | — | — | — | $9,290,270 ! | $— | $171,299 | Verified |
| 2022 | $7,300,000 | — | — | −$1,810,295 | $5,489,705 | $— | $167,325 | Verified |
| 2021 | $7,300,000 | — | — | −$1,810,295 | $5,489,705 | $— | $158,898 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +0.7% | +0.7% | ~100% | Not available | Partial |
| 2025 | +4.5% | +4.5% | ~100% | Not available | Partial |
| 2024 | -13.1% | -13.1% | ~100% | 1.9800% | Verified |
| 2023 | +19.6% | +19.6% | ~100% | 1.6100% | Verified |
| 2022 | +21.9% | +21.9% | ~100% | 1.8800% | Verified |
| 2021 | base year | — | ~100% | 2.1800% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +32.4% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +0.0% | +6.5% | +7.3% | +26.0% | 2024 | -9.3% | 2025 |
| Assessment Ratio | 100.0% | 91.2% | — | 109.9% | 2023 | 75.2% | 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 |
$197,726 | $175,713 | ~$232,941 | $197,726 | 2025 | $158,898 | 2021 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$10,363,086 | ~$10,363,086 | ~2.0139% | ~$208,706 | +7.3% |
| 2027 | ~$11,115,329 | ~$11,115,329 | ~1.9814% | ~$220,238 | +15.0% |
| 2028 | ~$11,922,177 | ~$11,922,177 | ~1.9488% | ~$232,344 | +23.4% |
| 2029 | ~$12,787,593 | ~$12,787,593 | ~1.9163% | ~$245,047 | +32.4% |
| 2030 | ~$13,715,829 | ~$13,715,829 | ~1.8837% | ~$258,371 | +42.0% |
| 2026 | ~$10,169,851 | ~$10,169,851 | ~2.0465% | ~$208,124 | +5.3% |
| 2027 | ~$10,704,671 | ~$10,704,671 | ~2.0465% | ~$219,069 | +10.8% |
| 2028 | ~$11,267,616 | ~$11,267,616 | ~2.0465% | ~$230,590 | +16.6% |
| 2029 | ~$11,860,166 | ~$11,860,166 | ~2.0465% | ~$242,717 | +22.8% |
| 2030 | ~$12,483,878 | ~$12,483,878 | ~2.0465% | ~$255,481 | +29.2% |
| 2026 | ~$10,556,321 | ~$10,556,321 | ~1.9977% | ~$210,880 | +9.3% |
| 2027 | ~$11,533,717 | ~$11,533,717 | ~1.9488% | ~$224,774 | +19.4% |
| 2028 | ~$12,601,610 | ~$12,601,610 | ~1.9000% | ~$239,433 | +30.4% |
| 2029 | ~$13,768,378 | ~$13,768,378 | ~1.8512% | ~$254,879 | +42.5% |
| 2030 | ~$15,043,175 | ~$15,043,175 | ~1.8024% | ~$271,134 | +55.7% |
In 2025, this property's market value of $9,661,751 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 19× 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 | $9,661,751 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $10,647,000 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $8,450,000 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $7,300,000 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $7,300,000 | $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.