Active Listing  ·  71 days on market

1602 Iris Ln

Cedar Park, TX 78613
$474,900
3 Bed 3 Bath 2,044 sqft $232/sqft Built 1994 0.20 acres 2-Car Garage Pool Cypress Bend Sec 02 Ph A

A rare opportunity in the highly sought-after Cypress Bend neighborhood! This beautifully updated 3-bedroom, 2.5-bath home offers 2,044 square feet of thoughtfully designed living space, plus a dedicated office that can easily serve as a 4th bedroom. Set on a .19 acre lot backing directly to the 42-acre Elizabeth Milburn Park, this property delivers a truly unique lifestyle with “backyard access” to an incredible array of amenities, including a community pool, playgrounds, and multiple sports courts for baseball, soccer, tennis, volleyball, basketball, and even cricket. Positioned on a quiet stretch of the park, you’ll enjoy exceptional privacy with no neighbors directly behind or beside you. The setting is peaceful and picturesque, with sweeping views of mature oak trees creating a serene natural backdrop. The backyard also offers one of the best vantage points in Cedar Park for the annual 4th of July fireworks show—launched just a few hundred feet away—along with easy access to community events like festivals and outdoor movies. Inside, the home features an open-concept floor plan filled with abundant natural light. Recent updates include new carpet, luxury vinyl flooring and porcelain tile, a renovated kitchen, several new windows, and recent HVAC(2020) system—providing modern comfort and style throughout. Located within walking distance to top-rated Leander ISD schools—Naumann Elementary, Cedar Park Middle, and Cedar Park High School—as well as Austin Community College and a highly regarded preschool, this home combines convenience with a strong sense of community. A rare blend of privacy, location, and lifestyle—this is one you don’t want to miss.

At $232/sqft, this home is priced in line with the Cedar Park market average of $229/sqft across 265 active listings. View Austin market report →

Location

1602 Iris Ln, Cedar Park, TX 78613

Property Details

Price $474,900
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 2,044 sqft
Lot Size 0.20 acres (8,594.39 sqft)
Year Built 1994
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Cypress Bend Sec 02 Ph A
County Williamson
Zip Code 78613
$/sqft $232/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $9,019.28
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT231430231
List Date June 4, 2026
Elementary School Pauline Naumann
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.

Schedule a Call →

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 · June 4, 2026 $499,000
Previous ask $485,000
Current ask $474,900
Reduced $24,100 (-4.8%) 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
602 Kai Dr
Buttercup Crk Ph V Sec 01-B
$475,000 $208 3 bd / 3 ba 2,284 sqft , 2026-05-10
1108 Oliver Loving Cv
Buttercup Creek Ph 04 Sec 07
$475,000 $206 4 bd / 2 ba 2,301 sqft , 2026-06-26
2440 Madeline Loop
Hunters Glenn Sec 01
$485,000 $211 4 bd / 3 ba 2,304 sqft , 2026-03-11
2207 Clover Ridge Dr
Lakeline Oaks Sec 5
$455,000 $216 4 bd / 3 ba 2,111 sqft , 2026-03-17
1409 Deer Horn Dr
Buttercup Creek Ph 04 Sec 01-2 Amd
$499,000 $191 4 bd / 3 ba 2,615 sqft , 2026-05-21

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
$2,280/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
$94,980
20% conventional investment loan

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

Estimated Gross Rent+$2,280
Principal + Interest−$2,592
Property Tax (~2.1% TX avg)−$831
Insurance (~0.5%)−$198
Est. Monthly Cash Flow $-1,341

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 August 9, 2026.

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