Leonard Homes under $500,000

Welcome to Leonard, Texas – a hidden gem nestled in the heart of Fannin County. This charming city offers a delightful blend of small-town warmth and modern conveniences, making it an ideal place for families, retirees, and anyone looking to escape the hustle and bustle of larger metropolitan areas. With a population of just over 2,000 residents, Leonard prides itself on its tight-knit community where neighbors become friends and local businesses thrive.

Leonard boasts an array of recreational activities and beautiful outdoor spaces. The nearby Lake Leonard provides ample opportunities for fishing, boating, and picnicking, while the surrounding countryside is perfect for hiking and exploring nature. The city hosts various community events throughout the year, fostering a sense of belonging and camaraderie among residents.

One of the most appealing aspects of Leonard is its affordable housing market. If you're in the market for a home under $500,000, you’ll find a variety of charming options that cater to diverse tastes and preferences. From cozy single-family homes with spacious yards to modern new builds, there’s something for everyone. With the cost of living significantly lower than in larger Texas cities, you can enjoy a comfortable lifestyle without breaking the bank.

In Leonard, you’ll not only find a home but also a community that welcomes you with open arms. Whether you’re looking to settle down or invest in a property, Leonard offers an inviting atmosphere and a promising future. Come explore the possibilities and discover why Leonard is the perfect place to call home!

Newest Leonard Homes under $500,000

$500,000

4 Beds ⋅ 4 Baths ⋅ 21398565 MLS

Some homes have a pool. Some have a shop. Some have peaceful pond views. At 107 N. Westlake Drive, you get all three—and suddenly your reasons for leaving home become less convincing. This inviting single-story brick home in Leonard offers a welcoming covered front porch, generous bedrooms, and an open kitchen and living area with room to gather without rearranging furniture every time someone visits. Large windows bring in natural light, while the kitchen features rich, dark cabinetry, abundant storage, a center island, and an expansive breakfast bar where guests can supervise dinner. A dedicated office with barn doors added in 2025 provides space for working, studying, or organizing those papers you keep moving from counter to counter. Built-in entry shelving makes a striking display for books and collectibles. The primary bath features a freestanding soaking tub and separate glass-enclosed shower, while an additional updated bathroom offers crisp tilework and a refreshed vanity. Outside, “we should go somewhere this weekend” becomes “actually, let’s stay here.” The curved in-ground pool features a shallow lounging ledge and surrounding patio space, with a covered back porch ready when you’ve had enough Texas sunshine. Lawn space beyond the pool and a detached shop leave room for hobbies, projects, and the tools that apparently multiply when no one is looking. Scenic pond views provide a peaceful backdrop. The sellers especially enjoy the wildlife, including a goose family and their duck companion. Even the birds appreciate a good location. Seller-reported improvements include whole-house paint and carpet in April 2024, bathroom updates in 2024, an oven and pool filter system in March 2025, a full five-ton, 15-SEER heat-pump system in August 2025, and a dishwasher in March 2026. With no HOA, city water and sewer, and a relaxed Leonard setting, this home offers room to work, space to unwind, and a backyard worth coming home to.

107 N Westlake Dr, Leonard

$499,000

4 Beds ⋅ 3 Baths ⋅ 21391855 MLS

Welcome to the kind of place that instantly feels like home. Set on 2.52 peaceful acres at the beginning of a quiet dead-end road, this beautifully updated 4-bedroom, 3-bath home blends modern comfort with country charm in a way that makes you want to slow down, settle in, and stay awhile. Inside, you’ll find an open living space perfect for gathering, hosting, and everyday living. Every inch has been thoughtfully updated, giving the home a fresh, welcoming feel from the moment you walk through the door. The layout offers room to spread out while still keeping everyone connected—ideal for family time, holidays, or those big Texas get-togethers. Step outside and enjoy the fully fenced yard, space for pets, kids, gardening, floating in the above ground pool, or simply relaxing under the wide Texas sky. Major improvements bring peace of mind, including a new roof in 2024 and a new aerobic septic system installed in 2025. And then there’s the shop—your dream workspace. The impressive 30×60 shop features spray foam insulation, a mini-split system, upstairs storage, and a large overhead garage door. Whether you need room for projects, equipment, hobbies, or business, this shop is ready for all the things. This property is the perfect blend of comfort, updates, space, and quiet country living. It’s welcoming. It’s practical. It’s peaceful. And it’s absolutely worth seeing in person. Come take a look—your next chapter might begin right here.

328 County Road 4664, Leonard

$350,000

4 Beds ⋅ 3 Baths ⋅ 21376810 MLS

Four bedrooms, 2.5 bathrooms, 2 living areas, and a flex space for office, workout room, etc. on over 2.5 acres with storage building and an approximately 1200 sq ft shop. Home is currently rented on a month-to-month basis and shop is also producing monthly income through a month-to-month lease making this a great return on your investment. For homeowners, the tenants can vacate within 30 days of closing. The property is partially fenced with an open pasture and large back yard.

14050 S State Highway 78, Leonard

$315,000

3 Beds ⋅ 2 Baths ⋅ 21336792 MLS

Welcome to 1015 FM 981 in Leonard, Texas is a beautifully updated, move-in ready home nestled on just shy of 2 acres, with the perfect balance of open space and mature trees. Whether you're dreaming of a small homestead, room for farm animals, or simply more space to enjoy country living, this property offers the ideal setting. Inside, you'll find extensive updates that provide both style and peace of mind, including new roof with impact-resistant shingles, new Lennox HVAC system, new Hardie siding, continuous luxury LVP flooring throughout, new aerobic septic system (2025), new water heater, and so much more. The spacious eat-in chef's kitchen has been thoughtfully refreshed with new designer backsplash, stainless steel farmhouse sink, and new dishwasher (2025), creating a space that's as functional as it is beautiful. The inviting living room is anchored by a striking wood-burning stove, offering warmth and character for cozy evenings at home. The 4-car tandem garage gives you the space for farm equipment, man-cave, or additional storage. Additional updates include refreshed lighting and beautifully renovated bathrooms throughout. A versatile bonus game room or playroom provides flexible space for entertaining, a media room, home office, or play area. With modern upgrades already completed, acreage to enjoy, and a location that offers the best of peaceful country living while remaining conveniently accessible, 1015 FM 981 is truly turnkey and ready for its next owners. Come experience all this exceptional property has to offer!

1015 Fm 981, Leonard

$250,000

3 Beds ⋅ 2 Baths ⋅ 21358463 MLS

Welcome to this charming and beautifully updated home in the heart of Leonard! Originally built in the 1920s, this home blends timeless character with thoughtful updates. The property offers 3 bedrooms and two full bathrooms, providing functional living space and a cozy layout. Enjoy a welcoming floor plan, updated finishes, and the character you’d expect from a historic home, while benefiting from the conveniences of modern improvements. Located in an established neighborhood with easy access to local schools, shopping, dining, and community amenities, this home offers the perfect opportunity to enjoy small-town living with plenty of space to make it your own. Schedule a showing today, you will be glad you did!

407 E Bois D Arc St, Leonard

$225,000

3 Beds ⋅ 2 Baths ⋅ 21362750 MLS

Excellent updated home for first time buyers or for sizing down. Three bedrooms, one and one-half baths and two living and dining areas. New updates in 2023 include new luxury vinyl plank flooring, Frigidaire appliances- range, microwave and dishwasher, water heater and Carrier 16 SEER heat and air. Kitchen has Farm sink, disposal and breakfast bar. Paint includes exterior and interior of house and new baseboards. Concrete driveway in front was extended and a new 18x20 concrete patio was added in back. A large shaded yard with privacy fence, patio and storage building will make family fun and relaxation very enjoyable. NEW ROOF WAS INSTALLED IN MID FEBRUARY 2025. This home is located in a nice area, on a dead end street. Nice and quiet area.

511 N Tucker St, Leonard

$415,000

2 Beds ⋅ 2 Baths ⋅ 21360202 MLS

HIGHLY MOTIVATED SELLERS, all offers considered. Don't miss your opportunity to experience country living at it's best with peace and quiet on 2 acres. Easy flowing floor plan, large living area with gas log fireplace, split bedrooms, two full baths. Third room is office or spare bedroom and currently features a Murphy Bed (negotiable) and custom sliding barn door. New patio doors with built in blinds. New energy efficient windows. No future foundation worries with lifetime warranty. Ready for your farm animals fenced and cross fenced. Covered area for animals or equipment. Beautiful mature trees in front and back yard. Carport in addition to two car garage. All on a paved county road with a cement drive. Property has an existing survey. Seller willing to negotiate allowance for updates. Possible 3 additional acres available. Not for from the new BoisD’Arc lake and upcoming Lake Ralph Hall (completion 2025) Book your showing today!

1172 County Road 3710, Leonard

$445,000

4 Beds ⋅ 3 Baths ⋅ 21358634 MLS

Sitting on 1.87 acres, this beautiful stone home has the space including lots of storage, comfort, and outdoor living you've been looking for. Inside, you'll find an open floor plan with a cozy living room centered around a fireplace, a formal dining room, and four generously sized bedrooms. The primary suite is especially spacious and features its own fireplace, a large walk in closet, and a private bath with a garden tub and separate shower. Outside, both the front and back porches are covered, giving you plenty of space to sit back and enjoy the property. The in ground pool is fully fenced for added safety and makes the backyard a great place to spend those Texas summers. The side facing garage has a convenient exterior door, along with a converted room that's currently being used as a home gym but could easily be used for storage, a craft room, hobby space, or whatever works best for you. With nearly two acres, a pool, spacious rooms, and plenty of flexible space, this one has a lot to offer. Seller will contribute $5,000 to buyer to use toward any desired upgrades.

8787 S State Highway 78, Leonard

$99,999

2 Beds ⋅ 1 Baths ⋅ 21348554 MLS

Large, tree-shaded lot with established driveway and a storm shelter beside the home. The early-1900s frame house includes a later-added laundry room and bathroom from when utilities became available in Leonard. The structure currently offers minimal value but provides a footprint for remodeling potential, expansion, or new construction. The value is in the land — spacious, mature trees, and room to create your vision.

208 E Austin, Leonard

$89,990

2 Beds ⋅ 1 Baths ⋅ 21354250 MLS

Cash buyers sold as-is. This single-family property presents a remarkable opportunity for investors, the existing structure requires comprehensive updates and repairs, serving as a blank canvas for a complete custom renovation or a modern flip.

107 W Travis St, Leonard

$179,500

3 Beds ⋅ 2 Baths ⋅ 21352041 MLS

Spacious 3-bedroom, 2-bath home offering approximately 1,824' & 1-car garage. Open, comfortable floor plan features an exceptionally large living area & spacious dining room with plenty of room for entertaining. The generously sized kitchen offers an abundance of cabinets, ample countertop space, a breakfast bar and an open connection to the surrounding living areas. All three bedrooms provide comfortable accommodations, while the covered patio creates a pleasant outdoor space for relaxing or gathering with friends & family. Home is ready for a buyer’s personal touches, including fresh paint, flooring and selected appliance updates. View the virtually staged AI photos to see just how easily this spacious property could become an adorable and inviting place to call home while already offering a spacious & functional layout with plenty of potential. Conveniently located near Leonard ISD campuses, local shopping, restaurants, parks, with easy access to US Highway 69 for travel toward McKinney, Plano, & greater N. TX area. Outdoor recreation, fishing, boating, camping, & trails at nearby Lake Bonham & Bonham State Park. Come explore the possibilities this Leonard property has to offer! Property subject to 3-Day Wait Period, seller will negotiate offers after the period expires-Monday, August 10, 26 - you can start submitting an offer after this date but not before. Cash offers require 10% EMD or $1,000 minimum, whichever is greater, all financed offers require 1% EMD or $1,000 minimum, whichever is greater. Seller does not accept blind offers, escalation clauses, LOI, or assignments. (which means ALL INVESTORS MUST VIEW THE PROPERTY WITH A LICENSED AGENT WHO MUST FOLLOW ALL SELLER INSTRUCTIONS), escalation clauses, LOI, or assignments. Buyers & their agent's responsibility to verify all info contained herein incl but not limited to condition, rm sizes, amenities, schools, acreage, flood plain information, foundation, roof, etc, & overall condition of the property.

502 E College St, Leonard

$459,500

5 Beds ⋅ 3 Baths ⋅ 21349317 MLS

**GUEST HOUSE • ADU • MULTI-GENERATIONAL LIVING • HEATED POOL & SPA • NEARLY 1 ACRE • NO HOA!** Rare opportunity in Leonard, TX offering flexible living space, potential rental income and room to entertain. This move-in-ready property features a spacious **5-bedroom, 3-bath main home PLUS a private 868-SF guest house ADU**—ideal for a mother-in-law suite, extended family, guests, home office or potential income-producing space. The separate guest house features its **own private entrance, full kitchen, bedroom, bathroom and laundry**, providing true independent living. Inside the main home, enjoy an open-concept layout, wood-burning fireplace, plantation shutters and a beautifully remodeled kitchen (2025) featuring upgraded cabinetry, granite countertops, abundant storage and modern finishes. Recent improvements include a **Class 3 impact-resistant roof (2025)**, 3-car carport (2024), exterior lighting and automated sprinkler system. Step outside to your own private backyard retreat with a **heated in-ground pool and spa**, pergola-covered entertaining area, mature landscaping, pool house and plenty of outdoor space on approximately **0.90 acre**. Additional improvements include a new pool pump and vacuum (2025) and guest house roof (2022). Conveniently located near **Highways 69 and 78** with easy access to surrounding North Texas communities while enjoying small-town Leonard living. **NO HOA.** Whether you're searching for a **multi-generational home, property with a guest house, mother-in-law suite, ADU, separate living quarters, home with a pool, or potential rental-income property**, 511 S Sulphur offers a combination that's difficult to find. **Schedule your private showing today!** 3107 sqft total on the main hpuse and the apartment.

511 S Sulphur St, Leonard

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Listings provided by North Texas Real Estate Information Systems (NTREIS). Listing data has been deemed reliable but is not guaranteed to be accurate by the MLS.

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