Active Listing  ·  20 days on market

1905 Phantom Horse None

Leander, TX 78641
$539,900
5 Bed 3 Bath 3,072 sqft $176/sqft Built 2005 0.20 acres 2-Car Garage Pool Boulders At Crystal Falls Ph 03

Come see this amazing two-story, 5-bedroom, 3-bath home in the highly sought-after Boulders At Crystal Falls Subdivision. Experience an abundance of natural light that flows beautifully throughout the entire space, accentuating the stunning flooring. The kitchen is a true delight, featuring quartz countertops, modern cabinet hardware, and stainless steel appliances that make cooking and entertaining a joy. The gorgeous primary bedroom offers a serene retreat with a walk-in closet and a spa-like shower and separate soaking tub, providing both space and luxury. The secondary bedrooms are comfortable in size, perfect for family, guests, or even a home office. There is truly no better way to experience easy-style living in a prime location. Enjoy convenient access to great restaurants and fantastic shops nearby. Schedule your showing today!

At $176/sqft, this home is 23% below the Leander active market average of $230/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1905 Phantom Horse None, Leander, TX 78641

Property Details

Price $539,900
Status Active Listing
Beds 5
Full Baths 3
Half Baths ,
Living Area 3,072 sqft
Lot Size 0.20 acres (8,712 sqft)
Year Built 2005
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Boulders At Crystal Falls Ph 03
County Williamson
Zip Code 78641
$/sqft $176/sqft
Days on Market ,
HOA $53/Monthly
Annual Tax Est. $10,104.8
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT249850193
List Date October 23, 2026
Elementary School Whitestone
Middle School Leander Middle
High School Leander High
School District Leander ISD

Leander ISD

Whitestone · Leander Middle · Leander High

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
1617 Quynn Ln
Mason Ranch Ph 1 Sec 6
$555,000 $174 4 bd / 4 ba 3,198 sqft , 2026-06-24
1132 Hemlen Cv
Mason Ranch
$565,000 $172 4 bd / 3 ba 3,276 sqft , 2026-07-09
1004 Applerock None
Boulders At Crystal Falls Ph 02
$493,000 $211 4 bd / 2 ba 2,336 sqft , 2026-09-16
1703 Mimosa Ln
Mason Creek Sec 02-A
$480,000 $204 5 bd / 3 ba 2,354 sqft , 2026-10-06
1212 Euless Ln
Mason Ranch Ph 1 Sec 9
$475,000 $191 4 bd / 2 ba 2,490 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
$2,592/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
$107,980
20% conventional investment loan

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

Estimated Gross Rent+$2,592
Principal + Interest−$2,946
Property Tax (assumed ~2.1%)−$945
Insurance (assumed ~0.5%)−$225
Est. Monthly Cash Flow $-1,524

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

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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 · 41 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. The written content was last updated on November 8, 2026.

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

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