Active Listing  ·  36 days on market

824 Corvallis Dr

Leander, TX 78641
$474,990
4 Bed 4 Bath 2,952 sqft $161/sqft Built 2026 0.12 acres 2-Car Garage Pool New Construction Cedar Brook

Welcome to 824 Corvallis Drive, Leander, Texas — a stunning new construction home built by M/I Homes. This 2-story home offers 2,952 square feet of thoughtfully designed living space, perfect for those seeking quality craftsmanship and a well-planned layout.

This home features an open-concept living space that creates a seamless flow between the main gathering areas, making it ideal for both everyday living and entertaining. The covered patio extends your living area outdoors, providing a comfortable space to enjoy the Texas weather year-round.

Home Highlights:

4 spacious bedrooms

3 full bathrooms and 1 half bathroom

2,952 square feet of living space

2-story new construction by M/I Homes

Open-concept living space

Covered patio for outdoor enjoyment

Quality construction and design throughout

The owner's bedroom offers a private retreat with an en-suite bathroom, providing a relaxing escape at the end of each day. Additional bedrooms are generously sized, offering flexibility for family, guests, or a home office.

The quality of design in this home is evident in every detail, from the carefully selected finishes to the functional floorplan that maximizes both space and comfort. Situated in a welcoming neighborhood with convenient proximity to parks, this home offers an exceptional living experience for families of all sizes.

At $161/sqft, this home is 32% 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

824 Corvallis Dr, Leander, TX 78641

Property Details

Price $474,990
Status Active Listing
Beds 4
Full Baths 3
Half Baths 1
Living Area 2,952 sqft
Lot Size 0.12 acres (5,357.88 sqft)
Year Built 2026
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Cedar Brook
County Williamson
Zip Code 78641
$/sqft $161/sqft
Days on Market ,
HOA $70/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT245522573
List Date September 2, 2026
Elementary School Camacho
Middle School Leander Middle
High School Leander High
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 →

Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · September 2, 2026 $484,990
Current ask $474,990
▼ Reduced $10,000 (-2.1%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

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
1428 Macfarland St
Mason Hills
$475,000 $242 4 bd / 2 ba 1,965 sqft , 2026-06-17
1814 Paseo Verde Dr
Vista Ridge
$474,900 $178 4 bd / 3 ba 2,675 sqft , 2026-04-06
828 Boise Dr
Cedar Brook
$469,990 $183 4 bd / 3 ba 2,568 sqft , 2026-08-11
2021 Crooked Creek St
ROSENBUSCH RANCH
$465,340 $211 4 bd / 3 ba 2,209 sqft , 2026-09-23
804 Corvallis Dr
Cedar Brook
$464,990 $184 4 bd / 4 ba 2,522 sqft , 2026-08-26

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
$2,280/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
$94,998
20% conventional investment loan

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

Estimated Gross Rent+$2,280
Principal + Interest−$2,592
Property Tax (~2.1% TX avg)−$831
Insurance (~0.5%)−$198
Est. Monthly Cash Flow $-1,341

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 September 29, 2026.

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