Active Listing  ·  154 days on market

1201 Deer Grove Dr

Cedar Park, TX 78613
$385,000
3 Bed 3 Bath 2,064 sqft $187/sqft Built 1992 0.20 acres 2-Car Garage Pool Buttercup Creek Sec 03 Village 02

*Free 1 point rate buy down - low 6% interest rate - details attached to MLS* Experience the established lifestyle of Buttercup Creek in this updated 3-bedroom, 2.5-bathroom residence, offering a rare combination of significant square footage & an aggressive price point. Commanding an oversized corner lot, the property makes a striking first impression w/its classic red brick exterior & a sprawling front lawn anchored by mature shade trees. The recent "make-ready" work is evident the moment you step through the door, offering a move-in-ready experience standing out as one of the best values per sq ft in the area. Inside, the floor plan breathes w/soaring high ceilings & an abundance of natural light that highlights the fresh, neutral paint & modern wide-plank flooring. The primary family room centers around a floor-to-ceiling whitewashed brick fireplace, providing a contemporary focal point. In the kitchen, rich wood cabinetry contrasts beautifully w/stainless steel appliances while a breakfast bar opens directly into the dining space. The massive master suite serves as a true sanctuary, boasting a wall of windows & a spa-like bathroom featuring double vanities & an oversized walk-in shower w/designer tile work. Outside, the sheer size of the corner lot becomes the star of the show. The expansive backyard is fully enclosed by a wooden privacy fence & offers a massive green space shaded by towering oaks. Beyond the property line, residents enjoy access to a robust collection of community amenities, including two neighborhood swimming pools, tennis & volleyball courts & multiple playgrounds. The community is woven together by an extensive network of hike-and-bike trails connecting to local gems like Rosemary Denny Park. Located in the heart of Cedar Park, you are minutes from highly-rated Leander ISD schools, the Lakeline Mall retail corridor & major highways for a streamlined commute. For more info, go to: https://wkf.ms/3R4AaOx

At $187/sqft, this home is 17% below the Cedar Park active market average of $225/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1201 Deer Grove Dr, Cedar Park, TX 78613

Property Details

Price $385,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 2,064 sqft
Lot Size 0.20 acres (8,664.08 sqft)
Year Built 1992
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Buttercup Creek Sec 03 Village 02
County Williamson
Zip Code 78613
$/sqft $187/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT228730139
List Date May 7, 2026
Elementary School Ada Mae Faubion
Middle School Cedar Park
High School Cedar Park
School District ,

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

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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · May 7, 2026 $450,000
Previous ask $390,000
Current ask $385,000
▼ Reduced $65,000 (-14.4%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

Similar Homes on the Market in Cedar Park

Comparable Listings Right Now

Homes currently for sale in Cedar Park 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
2214 S Lakeline Blvd #417
Arbors/Lakeline Bldg 19
$389,000 $203 3 bd / 3 ba 1,914 sqft , 2026-09-04
806 Brook Bnd
Buttercup Creek Sec 03 Village 01
$375,000 $242 3 bd / 3 ba 1,551 sqft , 2026-09-14
900 OAKCREST Cir
BUTTERCUP CREEK 2 VILLAGE 5
$395,000 $155 4 bd / 3 ba 2,548 sqft , 2026-07-25
800 Timber Trl
Buttercup Creek Sec 02 Village 03
$410,000 $200 3 bd / 2 ba 2,051 sqft , 2026-06-26
803 Brook Meadow Trl
Buttercup Creek Sec 03 Village 01
$410,000 $230 3 bd / 3 ba 1,782 sqft , 2026-08-26

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
$1,848/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
$77,000
20% conventional investment loan

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

Estimated Gross Rent+$1,848
Principal + Interest−$2,101
Property Tax (~2.1% TX avg)−$674
Insurance (~0.5%)−$160
Est. Monthly Cash Flow $-1,087

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 Cedar Park, TX

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

Apple Campus (Domain) 20 min SE
Dell Technologies HQ 15 min E
Samsung Austin Semiconductor 25 min SE
Tesla Gigafactory 40 min SE

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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 30, 2026.

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