About This Home

The Barlow - This new two-story home is host to an open-concept floorplan on the first level combining the kitchen, dining area and family room for effortless entertaining and multitasking. A versatile game room is located upstairs near four bedrooms, including the luxe owner’s suite with a spa-inspired bathroom and generous walk-in closet. Photos are for illustrative purposes only. Estimated Completion March 2027. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

At $115/sqft, this home is 50% below the Elgin active market average of $228/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

23720 MISTED GRASS Dr, Elgin, TX 78621

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Property Details

Price $248,849

Status Active Listing

Beds 4

Full Baths 2

Half Baths ,

Living Area 2,173 sqft

Lot Size 0.05 acres (2,178 sqft)

Year Built 2027

Garage 2 spaces

Stories ,

Type Residential · Single Family Residence

Subdivision Elm Creek

County Travis

Zip Code 78621

$/sqft $115/sqft

Days on Market ,

HOA $65/Monthly

Annual Tax Est. ,

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT251772575

List Date November 4, 2026

Elementary School Neidig

Middle School Elgin

High School Elgin

School District Elgin ISD

School District

Elgin ISD

Neidig · Elgin · Elgin

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Luke Allen (TREC #788149) has deep knowledge of Elgin 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 · November 4, 2026 $247,749

Current ask $248,849

▲ Increased $1,100 (+0.4%) 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 Elgin

Comparable Listings Right Now

Homes currently for sale in Elgin 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

13417 TRUMPET CREEPER Dr
Elm Creek $246,999 $132 4 bd / 2 ba 1,867 sqft , 2026-03-18

23617 FIRELIGHT Dr
Elm Creek $246,849 $132 4 bd / 2 ba 1,867 sqft , 2026-10-08

23705 GRACKLE Cv
Elm Creek $243,849 $131 4 bd / 2 ba 1,867 sqft , 2026-10-16

23600 SKYROCKET St
Elm Creek $239,999 $152 4 bd / 2 ba 1,575 sqft , 2026-09-02

23904 Stagg St
Elm Creek $260,999 $138 4 bd / 2 ba 1,891 sqft , 2026-09-28

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

$1,194/mo

0.48% rule · conservative Austin est.

Gross Yield

5.76%

Annual rent ÷ purchase price

Cap Rate (est.)

3.45%

NOI after 40% vacancy + expenses

Down Payment

$49,770

20% conventional investment loan

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

Estimated Gross Rent+$1,194

Principal + Interest−$1,358

Property Tax (assumed ~2.1%)−$435

Insurance (assumed ~0.5%)−$104

Est. Monthly Cash Flow $-703

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 Elgin, TX

Elgin 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

About the Author

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 9, 2026.

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

23720 MISTED GRASS Dr

Location

Property Details

How This Ask Has Moved

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Elgin, TX

More Luxury Homes in Elgin

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