Active Listing  ·  27 days on market

500 Municipal Dr #505

Leander, TX 78641
$319,990
3 Bed 3 Bath 1,454 sqft $220/sqft Built 2025 0.04 acres 1-Car Garage Pool New Construction Municipal Drive Townhomes

The dynamic Eames floor plan provides an ideal layout uniquely designed for comfort and space. The front entrance will catch your eye immediately with the spacious front porch that you can sip your coffee on each morning and chat with your neighbors! Entering the townhome, you are met with the spacious kitchen along with the sizeable, two-story family room perfect for entertaining gatherings of any size. Your kitchen comes fully equipped with an island with seating - ideal for the kids to eat an afternoon snack. The kitchen also features stainless steel appliances, designer lighting, gorgeous countertops, and a walk-in pantry. Past the stairs, you will come across your convenient downstairs powder bathroom and entry to your rear garage. Next to the garage is your secluded private master suite. Your master suite features a spacious bathroom with double vanities/sinks, a stand-alone shower, and a walk-in closet. Up the stairs, you will be welcomed by your oversized loft with access to your washer and dryer. This space has the flexibility to transform into anything you would like it to be. Whether it is a craft room, a game room, a seating area - the opportunities are endless! Also residing upstairs are two bedrooms, with bedroom #2 containing a walk-in closet, as well as a full secondary jack-and-jill bathroom. CastleRock Metro Townhomes offer desirable features that allow you to personalize your house into your dream home. With an unforgettable layout that this townhome provides, you can live the low-maintenance lifestyle in this gorgeous Eames townhome.

At $220/sqft, this home is 7% 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 #505, Leander, TX 78641

Property Details

Price $319,990
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 1,454 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 $220/sqft
Days on Market ,
HOA $230/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT244729227
List Date August 26, 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
708 Pampas Ricas Dr
Estate North Crk Ranch Sec 03
$320,000 $193 3 bd / 2 ba 1,654 sqft , 2026-08-21
500 Municipal Dr #102
Municipal Drive Townhomes
$318,000 $205 4 bd / 3 ba 1,548 sqft , 2026-08-21
1209 Natchez Trl #99
TRAILS AT LEANDER
$324,900 $190 3 bd / 2 ba 1,714 sqft , 2026-05-23
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

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
$1,536/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
$63,998
20% conventional investment loan

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

Estimated Gross Rent+$1,536
Principal + Interest−$1,746
Property Tax (~2.1% TX avg)−$560
Insurance (~0.5%)−$133
Est. Monthly Cash Flow $-903

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 27, 2026.

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