Active Listing  ·  1 day on market

216 Mystic Canyon Ln

Georgetown, TX 78628
$520,000
5 Bed 3 Bath 3,063 sqft $170/sqft Built 2023 0.18 acres 2-Car Garage Pool Riverview

Perched above the breathtaking San Gabriel River, this stunning 2023-built residence offers one of the most captivating backdrops in Georgetown. From the moment you step onto the covered patio, you'll be greeted by panoramic views of the rolling Texas Hill Country, mature trees, protected greenspace, and the winding San Gabriel River—a setting that transforms with every sunrise and finishes each day with unforgettable Texas sunsets.

Inside, the thoughtfully designed 3,063-square-foot floor plan offers the perfect balance of elegance and functionality. Featuring double living areas, a dedicated home office, and expansive open-concept living spaces, the home is designed to maximize both comfort and the incredible views beyond. Large windows throughout invite natural light inside while framing the picturesque landscape from nearly every angle.

Whether you're enjoying your morning coffee overlooking the river, hosting friends on the back patio, or unwinding as the sun dips below the rolling hills, this home offers a lifestyle that's difficult to replicate. The peaceful surroundings create a true sense of retreat while still being part of one of Georgetown's most desirable communities.

Located in Riverview, residents enjoy resort-style amenities including a community pool, volleyball court, scenic walking trails, and beautifully maintained green spaces. Just minutes away, Wolf Ranch Town Center offers shopping, dining, and the popular Saturday Farmers Market, while the historic Georgetown Square provides award-winning restaurants, boutique shopping, live music, and the timeless charm that makes Georgetown one of Central Texas' most beloved destinations.

This is more than a home—it's an opportunity to experience the beauty of the Texas Hill Country from your own backyard.

At $170/sqft, this home is 25% below the Georgetown active market average of $227/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

216 Mystic Canyon Ln, Georgetown, TX 78628

Property Details

Price $520,000
Status Active Listing
Beds 5
Full Baths 3
Half Baths ,
Living Area 3,063 sqft
Lot Size 0.18 acres (7,710.12 sqft)
Year Built 2023
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Riverview
County Williamson
Zip Code 78628
$/sqft $170/sqft
Days on Market ,
HOA $175/Quarterly
Annual Tax Est. $12,159.08
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT242140869
List Date August 3, 2026
Elementary School Wolf Ranch Elementary
Middle School James Tippit
High School East View
School District ,

Luke Allen (TREC #788149) has deep knowledge of Georgetown 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 Georgetown

Comparable Listings Right Now

Homes currently for sale in Georgetown 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
300 W Sequoia Spur
Serenada West
$520,000 $208 4 bd / 2 ba 2,496 sqft , 2026-07-14
1432 Morning View Rd
Oaks at San Gabriel
$520,000 $183 5 bd / 3 ba 2,834 sqft , 2026-06-17
2121 WOODED RUN Trl
Oaks at San Gabriel
$520,000 $169 4 bd / 3 ba 3,079 sqft , 2026-08-03
619 Breeze Hollow Ln
Oaks at San Gabriel
$519,990 $208 4 bd / 3 ba 2,500 sqft , 2026-04-20
117 Barton Run Dr
Riverview
$519,000 $189 4 bd / 3 ba 2,752 sqft , 2026-06-05

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
$2,496/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
$104,000
20% conventional investment loan

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

Estimated Gross Rent+$2,496
Principal + Interest−$2,838
Property Tax (~2.1% TX avg)−$910
Insurance (~0.5%)−$217
Est. Monthly Cash Flow $-1,469

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 Georgetown, TX

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

Dell Technologies HQ 20 min S
Apple Campus (Domain) 30 min S
Williamson County jobs hub 5-10 min

More Luxury Homes in Georgetown

Loading…
View All Luxury Homes →