Active Listing  ·  23 days on market

1117 Waterfall Ave

Leander, TX 78641
$299,000
3 Bed 2 Bath 1,434 sqft $209/sqft Built 2019 0.10 acres 2-Car Garage Pool Alterra

Priced under $300K, this cute one-story home offers 3 bedrooms, 2 baths and a well-planned layout with plenty of natural light. Two secondary bedrooms and a full bath are located near the front of the home, with the entry hall leading into an open living, kitchen and dining area. The kitchen features granite countertops and opens directly to the dining and living spaces, with tile flooring throughout the main areas.

The primary bedroom is set apart at the back of the home, offering a little extra privacy. The primary bath includes dual vanities, a large walk-in shower and a spacious walk-in closet.

The refrigerator, washer and dryer all convey with the home. Outside, the backyard is fully enclosed with a privacy fence and is ready for the next owner to decide exactly what they want to do with the space.

With a comfortable layout, a great price point and everything you need already in place, this home is an easy one to put on your list.

At $209/sqft, this home is 12% below the Leander active market average of $237/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1117 Waterfall Ave, Leander, TX 78641

Property Details

Price $299,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,434 sqft
Lot Size 0.10 acres (4,356 sqft)
Year Built 2019
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Alterra
County Williamson
Zip Code 78641
$/sqft $209/sqft
Days on Market ,
HOA $50/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT245260992
List Date September 15, 2026
Elementary School Jim Plain
Middle School Knox Wiley
High School Glenn
School District ,

Luke Allen (TREC #788149) has deep knowledge of Leander and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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Similar Homes on the Market in Leander

Comparable Listings Right Now

Homes currently for sale in Leander with similar bedroom count, size, and price range, giving you real-time context for how this property's asking price compares to the active market.

AddressList Price$/sqftBeds/BathsSqftDOMListed
1118 Remington Dr
Benbrook Ranch Sec 01 Ph 02
$299,900 $209 3 bd / 2 ba 1,434 sqft , 2026-08-27
800 Rubles Ct
Benbrook Ranch Sec 01 Ph 02
$298,000 $159 3 bd / 3 ba 1,878 sqft , 2026-07-17
500 Municipal Dr #403
Municipal Drive Townhomes
$301,342 $195 3 bd / 3 ba 1,548 sqft , 2026-03-24
701 Sparkling Brook Ln
North Creek Sec 3b
$296,000 $178 4 bd / 2 ba 1,662 sqft , 2026-08-28
500 Municipal Dr #805
Municipal Drive Townhomes
$305,000 $210 3 bd / 3 ba 1,454 sqft , 2026-08-21

Source: ACTRIS MLS, live listings. Similar by ±1 bed, ±35% price, ±35% sqft. Contact Luke for a formal comparative market analysis.

Investment Analysis

Rental Income Potential

The numbers below use conservative Austin-market assumptions. They are estimates, not a guarantee. Actual rents vary by condition, timing, and management. Read our full Austin rental property guide →

Est. Monthly Rent
$1,435/mo
0.48% rule · conservative Austin est.
Gross Yield
5.76%
Annual rent ÷ purchase price
Cap Rate (est.)
3.46%
NOI after 40% vacancy + expenses
Down Payment
$59,800
20% conventional investment loan

Monthly Cash Flow Breakdown (20% down · 7.25% rate)

Estimated Gross Rent+$1,435
Principal + Interest−$1,632
Property Tax (~2.1% TX avg)−$523
Insurance (~0.5%)−$125
Est. Monthly Cash Flow $-845

At current rates and prices, many Austin luxury properties run neutral or slightly negative on pure cash flow, appreciation and equity paydown are the primary return drivers. BRRRR and off-market acquisitions can improve day-one cash flow. Learn about the BRRRR method in Austin →

Commute & Employment

Major Employers Near Leander, TX

Leander sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Apple Campus (Domain) 25 min SE
Dell Technologies HQ 20 min SE
Samsung Austin Semiconductor 30 min SE

More Luxury Homes in Leander

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About the Author
Luke Allen, Austin TX Realtor, TREC #788149
Luke Allen
Licensed Austin TX Realtor · TREC #788149 · Full-time since 2019
★★★★★ 5.0 on Google · 30 Reviews

Luke Allen is a full-time Austin TX Realtor with the Austin Marketing + Development Group brokerage. He works with buyers, sellers, and investors across every Austin ISD and the surrounding neighborhoods, from Downtown and East Austin to Round Rock, Cedar Park, and the Hill Country. Every page on this site is written and maintained by Luke. This page was last updated on September 16, 2026.

📞 (254) 718-2567 [email protected] More about Luke →