Active Listing  ·  41 days on market

198 Midnight Valley Dr

Cedar Creek, TX 78612
$769,900
4 Bed 4 Bath 3,139 sqft $245/sqft Built 2026 0.24 acres 2-Car Garage Pool Silverleaf

MLS# 1880619 - Built by Drees Custom Homes - Dec 2026 completion! ~ New 4 Bedroom, 3.5 Bath home in Cedar Creek, TX! The Elliot plan is an outstanding new universal design plan. This home includes a secluded home office, perfect for productivity and an elegant foyer leading to the open family, kitchen and dining areas. The primary suite can be found tucked quietly in the rear corner of the home alongside the outdoor living area. With four spacious bedrooms and a large family room, there is space to accommodate everything and everyone. The garage features a two-car layout with an added tandem garage on the left side, providing more storage for additional vehicles, bicycles or more. There's a centralized flex room that offers versatility to make into a home office, media room or childen's playroom. Virtual tours are for illustrative purposes only.

At $245/sqft, this home is 12% below the Cedar Creek active market average of $279/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

198 Midnight Valley Dr, Cedar Creek, TX 78612

Property Details

Price $769,900
Status Active Listing
Beds 4
Full Baths 3
Half Baths 1
Living Area 3,139 sqft
Lot Size 0.24 acres (10,541.52 sqft)
Year Built 2026
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Silverleaf
County Bastrop
Zip Code 78612
$/sqft $245/sqft
Days on Market ,
HOA $60/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT237652996
List Date June 25, 2026
Elementary School Lost Pines
Middle School Cedar Creek
High School Cedar Creek
School District ,

Luke Allen (TREC #788149) has deep knowledge of Cedar Creek 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 · June 25, 2026 $773,900
Current ask $769,900
Reduced $4,000 (-0.5%) 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 Creek

Comparable Listings Right Now

Homes currently for sale in Cedar Creek 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
121 Black Talon Ln
Double Eagle Ranch, Sec 2
$750,000 $178 4 bd / 4 ba 4,219 sqft , 2025-03-29
145 Pavilion Dr
The Forest At Colorado Crossin
$750,000 $297 3 bd / 3 ba 2,528 sqft , 2026-07-01
189 Moccasin Cyn
Rocking S Estates
$790,000 $268 4 bd / 3 ba 2,943 sqft , 2026-06-30
158 Double Eagle Ranch Dr
Double Eagle Ranch Sec 1
$748,990 $240 4 bd / 5 ba 3,116 sqft , 2026-05-04
181 Pecos St
Double Eagle Ranch Sec 1
$745,000 $197 4 bd / 4 ba 3,774 sqft , 2026-06-26

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
$3,696/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
$153,980
20% conventional investment loan

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

Estimated Gross Rent+$3,696
Principal + Interest−$4,202
Property Tax (~2.1% TX avg)−$1,347
Insurance (~0.5%)−$321
Est. Monthly Cash Flow $-2,174

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 Creek, TX

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

Tesla Gigafactory 15-25 min E
Apple Campus (Domain) 20-30 min N
Google / Meta / Indeed 10-15 min downtown
Dell Medical School / UT Austin 10-20 min
Samsung Austin Semiconductor 25 min N

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