121 WOODWARD ST TX 78704
| Owner | AHFC SOCO 121 |
|---|---|
| Parcel ID | 0408020214 |
| Short ID | 310851 |
| Type | Real |
| Use Code | 07 Apartment 50–100 Units |
| Valuation | Income |
| Improvement SF | 33,552 SF |
| Land SF | 60,548 SF |
| Acres | 1.390 |
| Year Built | 1985 |
| Legal | LOT 3 WOODWARD PARK AMENDED PLAT OF |
| Neighborhood | 08TC |
| Land | $2,119,180 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $2,119,180 |
| Improvement | $5,860,820 |
|---|---|
| Total Improvement | $5,860,820 |
| Market | $7,980,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $7,980,000 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $7,980,000 |
| Taxable Value | $7,980,000 |
|---|
Appreciation: Market value has risen +206.9% from $2,600,000 (2021) to $7,980,000 (2025), a CAGR of 32.4% 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.
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 ($2,119,180 land vs $5,860,820 improvements), about $35/SF of land. Most value sits in the improvements, so building condition, age (~41 yrs), and rent roll drive the underwriting.
Submarket Position: At $7,980,000, 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 +32.4% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $32,418,269 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.
14 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| SO | Sketch Only | 55,952 SF | ✗ |
| 1ST | 1st Floor | 16,976 SF | ✓ |
| 2ND | 2nd Floor | 16,576 SF | ✓ |
| 551 | PAVED AREA | 14,860 SF | ✗ |
| 591 | MASONRY TRIM SF | 4,830 SF | ✗ |
| 611 | TERRACE | 2,048 SF | ✗ |
| 011C | PORCH OPEN 1ST COMM | 1,272 SF | ✗ |
| 012C | PORCH OPEN 2 COMM | 1,256 SF | ✗ |
| 511 | DECK | 800 SF | ✗ |
| 541 | FENCE COMM LF | 500 SF | ✗ |
| 501 | CANOPY | 48 SF | ✗ |
| MISC | Miscellaneous | 7 SF | ✓ |
| 132 | PLBG 5-FIXT AVG | 1 SF | ✓ |
| 242 | OBS OVEN/BURN | 1 SF | ✓ |
Market value changed by 80% in 2025, 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 | $7,548,800 | $7,980,000 | -5.4% |
| Assessed Value | $7,548,800 | $7,980,000 | -5.4% |
| Land Value | $2,119,180 | $2,119,180 | +0.0% |
| Improvement Value | $5,429,620 | $5,860,820 | -7.4% |
| Taxable Value | — | — | — |
| Exemptions | — | E | |
| Total Tax | Pending certification | — | |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $7,548,800 | $7,548,800 | +0 (+0.0%) |
| Taxable Value | — | — | — |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $7,548,800 | $2,119,180 | $5,429,620 | — | $7,548,800 | $— | Not yet — post-cert | Certified — no billing yet |
| 2025 | $7,980,000 | $2,119,180 | $5,860,820 | — | $7,980,000 | $— | not in county billing file ⓘ | Partial |
| 2024 | $3,962,861 | — | — | — | — | $— | not in county billing file ⓘ | Partial |
| 2023 | $3,190,000 | — | — | −$1,070,820 | $2,119,180 | $— | $18,269 | Verified |
| 2022 | $2,890,000 | — | — | −$1,830,410 | $1,059,590 | $— | $63,000 | Verified |
| 2021 | $2,600,000 | — | — | −$1,540,410 | $1,059,590 | $— | $62,906 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -5.4% | -5.4% | ~100% | Not available | Partial |
| 2025 | +79.5% ! | +79.5% | ~100% | Not available | Partial |
| 2024 | +12.2% | +12.2% | ~100% | No billing data | Verified |
| 2023 | +24.2% | +24.2% | ~100% | 0.4600% | Verified |
| 2022 | +10.4% | +10.4% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 2.4200% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +176.1% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -5.4% | +28.4% | +33.9% | +101.4% | 2025 | -5.4% | 2026 |
| Assessment Ratio | 100.0% | 68.8% | — | 100.0% | 2025 | 36.7% | 2022 |
|
Effective Tax Rate (2025)
⚑ Billing data available for 2025 only |
— | — | — | — | — | — | — |
| Tax Amount | $18,269 | $48,058 | — | $63,000 | 2022 | $18,269 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$10,562,343 | ~$8,778,000 | ~0.0000% | ~$0 | +32.4% |
| 2027 | ~$13,980,338 | ~$9,655,800 | ~0.0000% | ~$0 | +75.2% |
| 2028 | ~$18,504,402 | ~$10,621,380 | ~0.0000% | ~$0 | +131.9% |
| 2029 | ~$24,492,462 | ~$11,683,518 | ~0.0000% | ~$0 | +206.9% |
| 2030 | ~$32,418,269 | ~$12,851,870 | ~0.0000% | ~$0 | +306.2% |
| 2026 | ~$10,402,743 | ~$8,778,000 | ~0.0000% | ~$0 | +30.4% |
| 2027 | ~$13,561,036 | ~$9,655,800 | ~0.0000% | ~$0 | +69.9% |
| 2028 | ~$17,678,192 | ~$10,621,380 | ~0.0000% | ~$0 | +121.5% |
| 2029 | ~$23,045,325 | ~$11,683,518 | ~0.0000% | ~$0 | +188.8% |
| 2030 | ~$30,041,930 | ~$12,851,870 | ~0.0000% | ~$0 | +276.5% |
| 2026 | ~$10,721,943 | ~$8,778,000 | ~0.0000% | ~$0 | +34.4% |
| 2027 | ~$14,406,023 | ~$9,655,800 | ~0.0000% | ~$0 | +80.5% |
| 2028 | ~$19,355,961 | ~$10,621,380 | ~0.0000% | ~$0 | +142.6% |
| 2029 | ~$26,006,706 | ~$11,683,518 | ~0.0000% | ~$0 | +225.9% |
| 2030 | ~$34,942,660 | ~$12,851,870 | ~0.0000% | ~$0 | +337.9% |
In 2025, this property's market value of $7,980,000 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 15× 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 | $7,980,000 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $3,962,861 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $3,190,000 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $2,890,000 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $2,600,000 | $300,453 | $376,850 | $539,896 | ↑ Top 25% | base yr |