Active Listing  ·  22 days on market

2992 Heritage Heights Rd

Leander, TX 78641
$1,199,900
5 Bed 6 Bath 4,966 sqft $242/sqft Built 2026 1.00 acres 4-Car Garage Pool New Construction Hilltop Ranch

MLS# 4848097 - Built by Drees Custom Homes - Ready Now! ~ Gorgeous 5 Bed, 5.5 Bath home in Leander, TX! The Elmsdale IV is the luxurious and fan-favorite Elmsdale, revamped! The inviting arched entryway is a nod to the heritage and traditional Drees homes over the past 98 years and leads into a welcoming foyer flanked by a formal dining room and home office. This expansive design is packed with impressive spaces at each turn, from a huge family room that branches off to an expansive kitchen, breakfast room and covered porch with plenty of optional features. A main-level primary suite and guest suite provide convenience while a centralized family ready room provides plenty of storage and versatility. The second level of the Elmsdale IV boasts three additional bedrooms and a gameroom where many exciting night with friends and family can be had. At almost 5,000 square feet, this large estate boasts a four-car garage with ample storage for all vehicles, bicycles and much more!

At $242/sqft, this home is priced in line with the Leander market average of $237/sqft across 610 active listings. View Austin market report →

Location

2992 Heritage Heights Rd, Leander, TX 78641

Property Details

Price $1,199,900
Status Active Listing
Beds 5
Full Baths 5
Half Baths 1
Living Area 4,966 sqft
Lot Size 1.00 acres (43,560 sqft)
Year Built 2026
Garage 4 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Hilltop Ranch
County Williamson
Zip Code 78641
$/sqft $242/sqft
Days on Market ,
HOA $800/Annually
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT226358259
List Date September 16, 2026
Elementary School Bagdad
Middle School Danielson
High School Glenn
School District ,

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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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 · September 16, 2026 $1,349,900
Previous ask $1,249,900
Current ask $1,199,900
▼ Reduced $150,000 (-11.1%) 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 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
2408 Descendant Dr
Hilltop Ranch
$1,199,000 $318 4 bd / 5 ba 3,776 sqft , 2026-09-03
2429 Lineage Ln
Hilltop Ranch
$1,169,900 $235 5 bd / 6 ba 4,982 sqft , 2026-04-01
2825 Whalesong Way
Leander Estates
$1,105,950 $240 4 bd / 5 ba 4,601 sqft , 2026-06-25
2240 Greatwood Trl
Toll Brothers at Woodland Estates
$1,299,000 $261 4 bd / 5 ba 4,969 sqft , 2026-07-01
2941 Heritage Heights Rd
Hilltop Ranch
$1,099,900 $280 4 bd / 5 ba 3,931 sqft , 2026-10-02

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
$5,760/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
$239,980
20% conventional investment loan

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

Estimated Gross Rent+$5,760
Principal + Interest−$6,548
Property Tax (~2.1% TX avg)−$2,100
Insurance (~0.5%)−$500
Est. Monthly Cash Flow $-3,388

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 · 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 September 22, 2026.

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