Active Listing  ·  41 days on market

305 Gary Wayne Dr

Liberty Hill, TX 78642
$569,990
5 Bed 4 Bath 3,251 sqft $175/sqft Built 2026 0.14 acres 2-Car Garage Pool New Construction Lariat

Discover the beautifully upgraded Middleton floor plan by award-winning Highland Homes, located in the sought-after Lariat community of Liberty Hill. This impressive two-story home offers 3,251 square feet, 5 bedrooms, 4 bathrooms, and an exceptional combination of thoughtful design, spacious living areas, and upscale finishes. The stunning open-concept kitchen features upgraded cabinetry with stacked upper cabinets, quartz countertops, an oversized island, built-in appliances, and a convenient hutch, flowing seamlessly into the main living area. A dramatic floor-to-ceiling stone fireplace creates an inviting focal point. The first floor features an extended primary suite with bay window, a luxurious primary bath with freestanding soaking tub and separate shower, a private study, and an additional bedroom and full bath. Upstairs, you'll find generously sized secondary bedrooms and a spacious entertainment room, offering plenty of flexibility for guests, hobbies, or recreation. Enjoy Lariat's outstanding amenities, including a resort-style pool, splash pad, scenic walking trails, parks, fishing ponds, disc golf, and community gathering spaces. Conveniently located in Liberty Hill ISD with the new on-site Lariat Trail Elementary School. Move-in ready and backed by Highland Homes' 1-2-6 year warranty, this exceptional new home offers the upgrades, space, and convenience of new construction without the wait of building from the ground up. Schedule your private showing today!

At $175/sqft, this home is 21% below the Liberty Hill active market average of $222/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

305 Gary Wayne Dr, Liberty Hill, TX 78642

Property Details

Price $569,990
Status Active Listing
Beds 5
Full Baths 4
Half Baths ,
Living Area 3,251 sqft
Lot Size 0.14 acres (6,011.28 sqft)
Year Built 2026
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Lariat
County Williamson
Zip Code 78642
$/sqft $175/sqft
Days on Market ,
HOA $840/Quarterly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT248720248
List Date October 2, 2026
Elementary School LariatTrails
Middle School Liberty Hill (Liberty Hill)
High School Liberty Hill
School District Liberty Hill ISD

Liberty Hill ISD

LariatTrails · Liberty Hill (Liberty Hill) · Liberty Hill

Luke Allen (TREC #788149) has deep knowledge of Liberty Hill and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

Schedule a Call →

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 · October 2, 2026 $597,305
Previous ask $597,470
Current ask $569,990
▼ Reduced $27,315 (-4.6%) 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 Liberty Hill

Comparable Listings Right Now

Homes currently for sale in Liberty Hill 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
317 McMillian Drive None
Lariat
$569,791 $184 4 bd / 4 ba 3,092 sqft , 2026-07-21
217 Luttrell Ln
Lariat
$573,990 $198 4 bd / 4 ba 2,901 sqft , 2026-02-27
106 Bauer Loop
Lariat
$574,900 $232 4 bd / 3 ba 2,476 sqft , 2026-11-02
114 Bauer Loop
Lariat
$574,900 $216 4 bd / 4 ba 2,662 sqft , 2026-11-04
118 Bauer Loop
Lariat
$574,900 $239 4 bd / 3 ba 2,410 sqft , 2026-11-09

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
$2,736/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
$113,998
20% conventional investment loan

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

Estimated Gross Rent+$2,736
Principal + Interest−$3,111
Property Tax (assumed ~2.1%)−$997
Insurance (assumed ~0.5%)−$237
Est. Monthly Cash Flow $-1,609

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 Liberty Hill, TX

Liberty Hill 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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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 4, 2026.

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

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