About This Home

Fantastic opportunity in Leander! This 1.81-acre property includes a manufactured home and detached garage—ideal for investors, builders, or anyone seeking space and flexibility. Enjoy a quiet rural setting while remaining close to Leander’s shopping, schools, and highway access. No HOA and plenty of room for improvements or future expansion.

At $205/sqft, this home is 14% below the Leander active market average of $239/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

408 Horseshoe Dr, Leander, TX 78641

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Property Details

Price $600,000

Status Active Listing

Beds 4

Full Baths 3

Half Baths ,

Living Area 2,928 sqft

Lot Size 1.81 acres (78,843.6 sqft)

Year Built 2002

Garage 2 spaces

Stories ,

Type Residential · Manufactured Home

Subdivision Leander Heights Sec 02 Blk A Lts 23 & 24 Resu

County Williamson

Zip Code 78641

$/sqft $205/sqft

Days on Market ,

HOA None / verify with agent

Annual Tax Est. $15,294.92

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT219333263

List Date February 25, 2026

Elementary School Whitestone

Middle School Leander Middle

High School Leander High

School District ,

Have Questions About This Property?

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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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

409 Gridiron Cv
Horizon Lake Ph 4 Sec 2 $574,900 $275 3 bd / 2 ba 2,091 sqft , 2026-08-18

316 Regatta Trl
Horizon Lake $560,000 $184 4 bd / 3 ba 3,046 sqft , 2026-08-16

408 Starlight Village Loop
Starlight Village $645,000 $288 3 bd / 4 ba 2,243 sqft , 2026-07-15

512 Voyage Trce
Horizon Lake Ph 4 Sec 1 $549,000 $192 5 bd / 4 ba 2,858 sqft , 2026-04-11

1101 Horizon Park Blvd
Leander Heights Sec 03 $680,000 $241 5 bd / 2 ba 2,817 sqft , 2026-01-05

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

$2,880/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

$120,000

20% conventional investment loan

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

Estimated Gross Rent+$2,880

Principal + Interest−$3,274

Property Tax (~2.1% TX avg)−$1,050

Insurance (~0.5%)−$250

Est. Monthly Cash Flow $-1,694

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 →

About the Author

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 March 21, 2026.

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

408 Horseshoe Dr

Location

Property Details

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Leander, TX

More Luxury Homes in Leander

408 Horseshoe Dr

Location

Property Details

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Leander, TX

More Luxury Homes in Leander

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