Active Listing  ·  34 days on market

1504 Waterfall Ave

Leander, TX 78641
$335,000
3 Bed 3 Bath 1,610 sqft $208/sqft Built 2001 0.14 acres 2-Car Garage Pool North Creek Sec 03F

Located in North Creek with no HOA, this well-kept home has a clean, updated feel from the moment you arrive. The exterior gives a strong first impression and sets up what the interior does really well: bright spaces, fresh finishes, and a layout with plenty of flexibility. The main level is open, with high ceilings, wide-plank LVP flooring, natural light, and no carpet anywhere. The living room is bright and inviting, with a fireplace anchoring the space and an easy connection to the formal dining area. That dining space can stay traditional, or it could shift into a home office or flex space. The kitchen keeps things crisp with white cabinetry, quartz counters, subway tile backsplash, matte black fixtures, and a nearby breakfast nook for casual meals. A guest powder bath rounds out the main level. Upstairs, the layout keeps all of the bedrooms together while still giving everyone a little separation. The primary suite has its own ensuite bath, while a flexible upstairs space sits between the primary and secondary bedrooms, making it a great spot for a lounge area, game room, homework zone, or second living space. A second full bath serves the additional bedrooms and upstairs living area. Out back, the patio opens to a spacious yard that is easy to enjoy as-is, but also gives you room to create something more personal over time. Add more seating, a garden, a playscape, or the backyard hangout you have in mind. Adding to the appeal is the walkability. The local elementary school is an easy walk away, and Devine Lake Park is close by for trails, fishing, playground time, lake views, and a simple way to get outside without turning it into a full production. Clean, comfortable, and conveniently connected to everyday spots, this North Creek home has a lot to appreciate. Buyer to verify all info.

At $208/sqft, this home is 14% below the Leander active market average of $241/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1504 Waterfall Ave, Leander, TX 78641

Property Details

Price $335,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 1,610 sqft
Lot Size 0.14 acres (6,211.66 sqft)
Year Built 2001
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision North Creek Sec 03F
County Williamson
Zip Code 78641
$/sqft $208/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $6,449.16
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT237937115
List Date July 1, 2026
Elementary School Bagdad
Middle School Leander Middle
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.

Schedule a Call →

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
2524 Acoma Ln
Mockingbird Park
$335,000 $175 3 bd / 3 ba 1,915 sqft , 2026-06-05
1810 Parkwood Dr
Mason Creek Sec 01
$334,900 $196 3 bd / 2 ba 1,707 sqft , 2025-11-06
1209 Natchez Trl #99
TRAILS AT LEANDER
$334,900 $195 3 bd / 2 ba 1,714 sqft , 2026-05-23
2301 Local Rebel Loop
Townhomes/Crystal Falls Bldg 1
$334,500 $208 3 bd / 3 ba 1,609 sqft , 2026-05-22
16605 Black Kettle Dr
Block House Creek Ph E Sec 608A
$334,000 $213 3 bd / 2 ba 1,571 sqft , 2026-06-12

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
$1,608/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
$67,000
20% conventional investment loan

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

Estimated Gross Rent+$1,608
Principal + Interest−$1,828
Property Tax (~2.1% TX avg)−$586
Insurance (~0.5%)−$140
Est. Monthly Cash Flow $-946

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

Loading…
View All Luxury Homes →