Active Listing  ·  8 days on market

118 Phalarope Dr

Buda, TX 78610
$559,000
3 Bed 2 Bath 1,834 sqft $305/sqft Built 1979 1.09 acres 2-Car Garage Pool Leisurewoods Sec 1

Welcome to 118 Phalarope Dr, nestled on just over an acre in the established Leisurewoods community of Buda. This 3-bedroom, 2-bath home offers 1,834 square feet of living space with a comfortable floor plan, beamed ceilings, multiple dining areas, and a family room centered around a cozy fireplace. Step outside to a spacious backyard surrounded by mature trees, offering plenty of room to relax, entertain, garden, or simply enjoy the extra space that is hard to find in today's neighborhoods. A large back deck extends the living space outdoors, while the RV pad, storage shed, two-car garage, and additional outdoor space provide plenty of flexibility for everyday living. With no immediate rear neighbor and convenient access to Buda, South Austin, SH 45 and FM 1626, this property offers a great combination of space, character, and location. Come see everything this unique Leisurewoods property has to offer!

At $305/sqft, this home is priced 61% above the Buda active market average of $189/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

118 Phalarope Dr, Buda, TX 78610

Property Details

Price $559,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,834 sqft
Lot Size 1.09 acres (47,567.52 sqft)
Year Built 1979
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Leisurewoods Sec 1
County Hays
Zip Code 78610
$/sqft $305/sqft
Days on Market ,
HOA $250/Annually
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT248387499
List Date September 30, 2026
Elementary School Carpenter Hill
Middle School Eric Dahlstrom
High School Johnson High School
School District ,

Luke Allen (TREC #788149) has deep knowledge of Buda and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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Similar Homes on the Market in Buda

Comparable Listings Right Now

Homes currently for sale in Buda 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
202 Treetop Way
Coves Of Cimarron
$535,000 $260 4 bd / 2 ba 2,055 sqft , 2026-08-21
315 Caracara Dr
Leisurewoods Sec 2
$525,000 $289 4 bd / 2 ba 1,818 sqft , 2026-08-25
314 Turnstone Dr
Leisurewoods Sec 4
$485,000 $234 3 bd / 2 ba 2,074 sqft , 2026-06-12
1912 Bobbywoods Ln
Hills Of Bear Creek Sec 3
$425,000 $206 4 bd / 3 ba 2,068 sqft , 2026-09-09
404 Hunt Ln
Cimarron Park I
$425,000 $234 3 bd / 2 ba 1,818 sqft , 2026-09-22

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
$2,683/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
$111,800
20% conventional investment loan

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

Estimated Gross Rent+$2,683
Principal + Interest−$3,051
Property Tax (~2.1% TX avg)−$978
Insurance (~0.5%)−$233
Est. Monthly Cash Flow $-1,579

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 Buda, TX

Buda sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Tesla Gigafactory 25 min N
Downtown Austin 30 min N
Hays County job center 10 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 October 5, 2026.

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