Active Listing  ·  70 days on market

849 Corvallis Dr

Leander, TX 78641
$399,990
3 Bed 2 Bath 1,739 sqft $230/sqft Built 2026 0.12 acres 2-Car Garage Pool New Construction Cedar Brook

Welcome to 849 Corvallis Drive, Leander, Texas — a new construction single-story home built by M/I Homes. This thoughtfully designed home offers 1,739 square feet of comfortable living space with 3 bedrooms and 2 bathrooms, ideal for a range of lifestyles.

Step inside to discover an open-concept living space that creates a seamless flow between the main gathering areas. The quality of design is evident throughout, with well-planned layouts and carefully selected finishes that bring both style and functionality to everyday living. The single-story floorplan ensures convenient, easy access to every room in the home.

The owner's bedroom features a private en-suite bathroom, providing a relaxing retreat at the end of each day. Outside, a covered patio extends the living space and offers a great spot for entertaining or unwinding outdoors.

Key Features:

- New construction by M/I Homes

- 3 bedrooms and 2 bathrooms

- 1,739 square feet of living space

- Single-story floorplan

- Open-concept living space

- Owner's bedroom with private en-suite bathroom

- Covered patio

- Quality design and finishes throughout

This home is situated in a welcoming neighborhood with convenient proximity to parks, making it easy to enjoy outdoor recreation and green spaces. The surrounding area offers a friendly atmosphere well-suited for families, professionals, and anyone looking for a well-built home in a desirable setting.

At $230/sqft, this home is 3% 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

849 Corvallis Dr, Leander, TX 78641

Property Details

Price $399,990
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,739 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 $230/sqft
Days on Market ,
HOA $70/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT239840448
List Date July 14, 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 · July 14, 2026 $449,990
Previous ask $439,990
Current ask $399,990
Reduced $50,000 (-11.1%) 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
407 Chaparral Dr
Vista Rdg Ph 03
$419,900 $179 4 bd / 2 ba 2,345 sqft , 2026-09-17
1765 Rowdy Loop #47
Cottages At Crystal Falls Condo
$379,000 $213 2 bd / 3 ba 1,778 sqft , 2026-09-17
2301 Spokane Dr
Cedar Brook
$424,990 $231 3 bd / 3 ba 1,842 sqft , 2026-07-14
824 Boise Dr
Cedar Brook
$429,990 $193 3 bd / 3 ba 2,232 sqft , 2026-09-16
644 Peregrine Way
Vista Ridge
$360,000 $193 3 bd / 2 ba 1,868 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
$1,920/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
$79,998
20% conventional investment loan

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

Estimated Gross Rent+$1,920
Principal + Interest−$2,183
Property Tax (~2.1% TX avg)−$700
Insurance (~0.5%)−$167
Est. Monthly Cash Flow $-1,130

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 15, 2026.

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