Active Listing  ·  8 days on market

118 Millsaps Ct

Bastrop, TX 78602
$335,000
3 Bed 2 Bath 1,808 sqft $185/sqft Built 2021 0.20 acres 2-Car Garage Pool The Colony Mud

A standout opportunity in the gated section of The Colony! This single-story Buffington Homes residence, built in 2021, offers an **assumable 2.875% mortgage**—see agent for details. Additional features include solar panels and a 220V outlet in the garage for electric vehicle charging. Inside, an open-concept floor plan creates an easy flow for everyday living and entertaining. The modern kitchen opens to the main living and dining areas, while the single-story design provides convenient accessibility throughout. Step outside to a spacious backyard with a covered patio, perfect for relaxing or entertaining, plus an irrigation system for easy lawn care.

Located in the gated section of The Colony, residents enjoy an impressive collection of neighborhood amenities, including miles of nature and walking trails, an amenity center with fitness facilities, a junior Olympic-size pool, parks and playgrounds, tennis and pickleball courts, a sports court, and catch-and-release fishing ponds throughout the community. Ideally situated west of Bastrop, this home offers the best of both worlds—close to the shops, restaurants and charm of historic Downtown Bastrop while providing convenient access toward Austin. Major area employers and developments, including SpaceX and The Boring Company, are also just minutes away. **Assumable 2.875% mortgage—contact agent for additional information and qualification details.**

At $185/sqft, this home is 19% below the Bastrop active market average of $227/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

118 Millsaps Ct, Bastrop, TX 78602

Property Details

Price $335,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,808 sqft
Lot Size 0.20 acres (8,494.2 sqft)
Year Built 2021
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision The Colony Mud
County Bastrop
Zip Code 78602
$/sqft $185/sqft
Days on Market ,
HOA $163.24/Monthly
Annual Tax Est. $8,480.62
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT247497523
List Date September 24, 2026
Elementary School Colony Oaks
Middle School Cedar Creek
High School Cedar Creek
School District ,

Luke Allen (TREC #788149) has deep knowledge of Bastrop 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 Bastrop

Comparable Listings Right Now

Homes currently for sale in Bastrop 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
204 Frontera Dr
Del Webb Lost Pines at The Colony
$339,690 $242 2 bd / 2 ba 1,403 sqft , 2026-08-17
190 Frontera Dr
Del Webb Lost Pines at The Colony
$377,590 $162 3 bd / 3 ba 2,326 sqft , 2026-01-23
129 Pinyon Pine Dr
The Colony - Coleton Meadow
$390,826 $209 3 bd / 2 ba 1,874 sqft , 2026-05-06
119 Loysoya St
The Colony Mud 1E Sec 2 Ph
$399,900 $199 2 bd / 3 ba 2,013 sqft , 2026-03-14
267 Maddy Way
The Colony
$399,900 $202 3 bd / 3 ba 1,984 sqft , 2026-07-18

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
$1,608/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
$67,000
20% conventional investment loan

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

Estimated Gross Rent+$1,608
Principal + Interest−$1,828
Property Tax (~2.1% TX avg)−$586
Insurance (~0.5%)−$140
Est. Monthly Cash Flow $-946

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 Bastrop, TX

Bastrop 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

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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 30, 2026.

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