121 Lakewood

Leander, TX 78641

$1,275,000

5 beds
5 baths
2,757 sq ft
2.52 acres
Built 1998

Listed by Teamly Realty · MLS #ACT9046866

121 Lakewood, Leander, TX 78641 — photo 1

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A FEW THINGS TO NOTICE

What stands out.

Additional spaces

*Country living on 2.52 acres in town* Main House of 2,757 SF + Separate Guest House of approx.

Living spaces

The main home boasts an inviting layout with rich hardwood floors, a cozy brick fireplace, and an abundance of natural light throughout.

Year built

Built in 1998.

Highlights from the listing description and property details. Confirm features with the listing agent.

THE PROPERTY

Get to know the property.

*Country living on 2.52 acres in town* Main House of 2,757 SF + Separate Guest House of approx. 1,000 SF * Multi-General Housing * STR- Short-Term Rental *Chicken Coops * Garden * Putting Green *Community Lake Access *Low Tax Rate of 1.7% *Not in City Limits *Only 1.7 Miles from Whole Foods. Horses allowed.

Welcome to this extraordinary multi-structure estate offering the perfect blend of country living and modern comfort. Nestled among mature oak trees and lush green pastures, this remarkable property features a spacious main residence, a beautifully appointed guest house, and a wealth of outdoor amenities — all set on beautifully landscaped acreage with sweeping open views.

The main home boasts an inviting layout with rich hardwood floors, a cozy brick fireplace, and an abundance of natural light throughout. The updated kitchen showcases white cabinetry, stainless steel appliances, and generous counter space. The main house offers 4 bedrooms and 2.5 bathrooms.

The red barn guest house offers approx. 1,000 additional SF and is a destination in itself — featuring soaring vaulted ceilings, 1 private bedroom, 2 full bathrooms, a full kitchen, dining area, utility room, and and an upstairs loft. Whether used for extended family, visiting guests, or rental income, this space offers truly exceptional flexibility and style.

Outdoors, this property is an entertainer's and hobbyist's dream. Sharpen your short game on the private putting green, gather around the fire pit under a canopy of mature shade trees, tend to established gardens, and enjoy the charm of your very own chicken coop. Covered storage areas and wide open spaces round out this one-of-a-kind country retreat.

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THE NEIGHBORHOOD

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121 Lakewood, Leander, TX 78641

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THE DETAILS

The details, all in one place.

Property type: Residential
Category: Residential
Year built: 1998
Full baths: 4
Half baths: 1
Garage spaces: 2
Cooling: Central Air
Heating: Central
Appliances: Dishwasher, Free-Standing Range
Flooring: Carpet, Vinyl, Wood
Fencing: Livestock
Accessibility: None
Pool features: None
Subdivision: LAKEWOOD COUNTRY ESTATES
Parcel: 17W33370A000110005
HOA: Lakewood Country Estates
HOA amenities: Common Area Maintenance
HOA fee frequency: Annually
Elementary school: Block House
Middle school: Knox Wiley
High school: Rouse
Annual property tax: $13,038.00
HOA fee: $120.00

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

OWNERSHIP, WITH A PLAN

Investor outlook.

Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.

These are planning assumptions, not a rental appraisal or a loan quote. The starting rent is a price-based estimate; a local leasing professional can help confirm market rent.

Investor outlook assumes an all-cash purchase. No mortgage payment is deducted.

Estimated monthly cash flow · cash purchase$2,744.54

Estimated monthly rent$5,312.50

Cap rate2.83%

Annual operating income: $36,122.00

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Purchase price

Rental income & operating costs

Estimated monthly rent

Purchase price × 5% ÷ 12. Updates with purchase price until you enter a custom rent.

Vacancy allowance (%) Management fee (%) Maintenance reserve (%) Capital reserve (%)

Annual property tax

Annual insurance

Annual insurance starts at purchase price × 0.25%, rounded to the nearest available amount. Updates with purchase price until you choose another amount.A planning estimate, not an insurance quote. Adjust it for your property and coverage.

Monthly HOA

Other monthly costs

Percentages are editable examples, not ERA fee quotes. Management is applied to rent after vacancy; maintenance and capital reserves use scheduled rent. Add owner-paid utilities, mortgage insurance and other recurring expenses under other costs.

How this scenario is calculated

Annual operating income is rent after vacancy, management, maintenance, taxes, insurance, HOA and other operating costs, before financing and capital reserves. Cap rate divides annual operating income by purchase price. Estimated monthly cash flow assumes an all-cash purchase: rent after vacancy, management, maintenance, taxes, insurance, HOA, other operating costs and capital reserves. No mortgage payment is deducted. The mortgage calculator is separate; loan payments would reduce cash flow for a financed purchase. One-time acquisition costs, renovations, income taxes, depreciation and appreciation are excluded.

Mortgage payment calculator

Explore financing separately. These loan settings do not change the all-cash investor outlook.

Mortgage assumptions

Down payment (%) Interest rate (%) Loan term

20% down and 7% interest are illustrative starting values.

Estimated monthly principal & interest—Loan payment only. Excludes property taxes, homeowners/flood insurance, mortgage insurance and HOA dues.

About this payment estimate

Based on a fixed-rate, fully amortizing loan with monthly payments and the price, down payment, interest rate and term you select. The interest rate is an example, not a current rate offer or APR; APR includes certain loan costs. This is an illustration, not a Loan Estimate, approval, offer of credit or commitment to lend.

Your actual payment, rate and eligibility depend on your lender, credit, loan program and property. Closing costs, points, prepaid expenses and lender fees are not included. Taxes and insurance may change, and mortgage insurance may be required, particularly with a down payment below 20%. Ask your lender for a Loan Estimate and a complete monthly payment including applicable taxes, insurance and fees.

Dollar results are rounded to the nearest cent; calculations retain precision until display. A cash purchase has no loan payment but still has ownership costs. Understand your total home payment (CFPB).

ERA PROPERTY MANAGEMENT

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121 Lakewood, Leander, TX 78641 · MLS #ACT9046866

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Listing information

MLS #ACT9046866 · Austin Board of Realtors

Listing brokerage: Teamly Realty
Listing agent: Angela Hill

Listing status: Active. Record updated August 23, 2026. Confirm current availability and price with the listing agent.