Active Listing  ·  20 days on market

501 Great Lawn Cv

Liberty Hill, TX 78642
$715,000
4 Bed 4 Bath 3,437 sqft $208/sqft Built 2021 0.36 acres 3-Car Garage Pool Santa Rita Ranch Ph 3 Sec 1

Check out a rare find at Santa Rita Ranch! Built in 2021, this immaculate 4-bedroom, 3.5 bathroom, single-story home sits on a 1/3 acre cul-de-sac lot and backs up to a gorgeous wooded greenbelt with a wealth of mature trees. It is move-in ready and loaded with upgrades, including Rev Wood flooring, recessed lighting, and 2" cordless blinds throughout the home. The entryway features an impressive rotunda with a tiered chandelier. The kitchen is splendidly appointed and includes a massive island, stainless steel appliances, gas cooktop, and plenty of cupboard and pantry space. Dual sliding doors off the living room, an abundance of windows, and soaring ceilings keep the space bright and airy feeling, and every window on the back side of the house showcases the scenic woods behind it. The home includes a designated home office with French door entry, and a secondary office space which could also be converted to a playroom or formal dining room if so desired. The primary bathroom boasts a huge walk-in shower and separate soaking tub, bidet toilet, dual vanities and two walk-in closets. The private guest bedroom has its own en suite, while the other two bedrooms share a Jack-n-Jill bath. The sizeable 3-car garage comes with an epoxy floor, extensive overhead storage, a huge stainless steel utility sink and plenty of room for an additional fridge or freezer. The outdoor living space is truly magnificent -- a massive covered back patio with cathedral ceilings and recessed lighting is the perfect spot for dining al fresco or entertaining, and there is a 12'x20' uncovered deck extending from there. Roughly a dozen additional trees have been planted around the back and side yards, which will continue to grow and offer more shade and privacy over the years. Priced to sell, this home is a must-see to fully appreciate all it has to offer!

At $208/sqft, this home is 6% below the Liberty Hill active market average of $221/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

501 Great Lawn Cv, Liberty Hill, TX 78642

Property Details

Price $715,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths 1
Living Area 3,437 sqft
Lot Size 0.36 acres (15,834.06 sqft)
Year Built 2021
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Santa Rita Ranch Ph 3 Sec 1
County Williamson
Zip Code 78642
$/sqft $208/sqft
Days on Market ,
HOA $116/Monthly
Annual Tax Est. $18,164.55
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT245273114
List Date September 3, 2026
Elementary School Santa Rita
Middle School Santa Rita Middle
High School Legacy Ranch
School District ,

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 →

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
168 Montecilo Dr
Santa Rita Ranch
$714,891 $185 5 bd / 5 ba 3,865 sqft , 2025-09-10
120 Chantilly Way
Santa Rita Ranch
$719,990 $208 4 bd / 4 ba 3,465 sqft , 2026-08-27
213 Great Lawn Bnd
Santa Rita Ranch
$720,000 $173 5 bd / 4 ba 4,172 sqft , 2026-01-23
228 Borrego Bnd
Santa Rita Ranch
$724,900 $240 4 bd / 4 ba 3,018 sqft , 2026-09-05
205 Montecido Dr
Santa Rita Ranch
$702,900 $239 4 bd / 4 ba 2,942 sqft , 2026-09-05

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
$3,432/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
$143,000
20% conventional investment loan

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

Estimated Gross Rent+$3,432
Principal + Interest−$3,902
Property Tax (~2.1% TX avg)−$1,251
Insurance (~0.5%)−$298
Est. Monthly Cash Flow $-2,019

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

More Luxury Homes in Liberty Hill

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 September 7, 2026.

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