Active Listing  ·  145 days on market

500 Municipal Dr #403

Leander, TX 78641
$301,342
3 Bed 3 Bath 1,548 sqft $195/sqft Built 2025 0.04 acres 1-Car Garage Pool New Construction Municipal Drive Townhomes

The innovative Mies plan boasts a spacious front porch - Entering this home, you are met with the conjoined open-concept family room and dining space. Conveniently, your spacious kitchen is connected to the dining/family space. Your kitchen is adorned with designer lighting, gorgeous countertops and backsplash, stainless steel appliances, a walk-in pantry, and a kitchen island with seating. Past the stairs is entry to your rear one-car garage and across the way is your secluded study room and full bathroom nextdoor. Up the stairs, you'll find all the bedrooms, giving you the privacy you desire in your new home. At the top of the stairs is the spacious loft area with access to your washer and dryer, and the hallway leads to your secluded master bedroom retreat. Your master bathroom is equipped with double sinks/vanities, a stand-alone shower, and a walk-in closet! Across the loft is the secondary and full bedrooms with the third bedroom containing a walk-in closet for extra storage, as well as another full bathroom. CastleRock Metro Townhomes offer desirable features and attractive options that allow you to personalize your house into your dream home. With the uniquely-designed layout that this townhome encompasses, you can live the low-maintenance lifestyle in this amazing Mies townhome.

At $195/sqft, this home is 18% 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

500 Municipal Dr #403, Leander, TX 78641

Property Details

Price $301,342
Status Active Listing
Beds 3
Full Baths 3
Half Baths ,
Living Area 1,548 sqft
Lot Size 0.04 acres (1,624.79 sqft)
Year Built 2025
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision Municipal Drive Townhomes
County Williamson
Zip Code 78641
$/sqft $195/sqft
Days on Market ,
HOA $150/Monthly
Annual Tax Est. $1,213.49
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT223617466
List Date March 24, 2026
Elementary School Camacho
Middle School Leander Middle
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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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
500 Municipal Dr #302
Municipal Drive Townhomes
$301,342 $195 3 bd / 3 ba 1,548 sqft , 2026-03-20
913 Remington Dr
Benbrook Ranch Sec 01 Ph 02
$299,000 $153 4 bd / 2 ba 1,949 sqft , 2026-06-15
800 Rubles Ct
Benbrook Ranch Sec 01 Ph 02
$298,000 $159 3 bd / 3 ba 1,878 sqft , 2026-07-17
516 Emma Rose Trl
Westview Mdws Ph 04
$297,500 $196 3 bd / 2 ba 1,521 sqft , 2026-07-29
500 Municipal Dr #402
Municipal Drive Townhomes
$297,342 $207 3 bd / 3 ba 1,434 sqft , 2026-03-20

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
$1,446/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
$60,268
20% conventional investment loan

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

Estimated Gross Rent+$1,446
Principal + Interest−$1,645
Property Tax (~2.1% TX avg)−$527
Insurance (~0.5%)−$126
Est. Monthly Cash Flow $-852

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 May 26, 2026.

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