Active Listing  ·  26 days on market

500 Municipal Dr #404

Leander, TX 78641
$312,990
3 Bed 3 Bath 1,434 sqft $218/sqft Built 2025 0.04 acres 1-Car Garage Pool New Construction Municipal Drive Townhomes

Inside this well-designed townhome, you are met with the formal entry the leads directly to your open-concept living room and conjoined dining space, providing the ultimate spot for family and friend gatherings. Facing your open, adjoined living and dining space is your spacious kitchen. Your kitchen comes complete with designer lighting, gorgeous countertops, a pantry, and a kitchen island with a breakfast bar. Completing the first floor is your convenient downstairs powder bathroom and entry to your rear-facing, one-car garage. On the second floor, you are met with the spacious loft along with access to your washer and dryer. Adjacent from the staircase is your secluded master suite. Your master suite is equipped with an abundance of space, as well as a large bathroom consisting of dual vanities/sinks, a stand-alone shower, and a sizable walk-in closet. Down the hall resides your second and third bedrooms, and a full secondary bathroom. With the practical, uniquely-designed layout that this townhome provides, you can live the low-maintenance lifestyle in this stunning Pei townhome.

At $218/sqft, this home is 8% below the Leander active market average of $237/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

500 Municipal Dr #404, Leander, TX 78641

Property Details

Price $312,990
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 1,434 sqft
Lot Size 0.04 acres (1,742.4 sqft)
Year Built 2025
Garage 1 spaces
Stories ,
Type Residential · Townhouse
Subdivision Municipal Drive Townhomes
County Williamson
Zip Code 78641
$/sqft $218/sqft
Days on Market ,
HOA $230/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT244718125
List Date August 27, 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.

Schedule a Call →

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 #402
Municipal Drive Townhomes
$312,990 $218 3 bd / 3 ba 1,434 sqft , 2026-08-26
500 Municipal Dr #302
Municipal Drive Townhomes
$314,990 $203 4 bd / 3 ba 1,548 sqft , 2026-08-26
701 Los Robles Rd
Estates of North Creek Ranch Sec 02
$315,000 $200 3 bd / 2 ba 1,572 sqft , 2026-03-13
500 Municipal Dr #103
Municipal Drive Townhomes
$315,000 $220 3 bd / 3 ba 1,434 sqft , 2026-08-21
315 Northern Trl
Westview Meadows Ph 04
$310,000 $203 3 bd / 2 ba 1,528 sqft , 2026-05-01

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
$1,502/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
$62,598
20% conventional investment loan

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

Estimated Gross Rent+$1,502
Principal + Interest−$1,708
Property Tax (~2.1% TX avg)−$548
Insurance (~0.5%)−$130
Est. Monthly Cash Flow $-884

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

More Luxury Homes in Leander

Loading…
View All Luxury Homes →
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 August 28, 2026.

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