About This Home

Brand new, energy-efficient home available by Oct 2026! Clear sight lines from the kitchen through the great room bring everyone together. Now Selling! Colony at Cole Springs by Meritage Homes offers new homes in Buda, TX, where small-town charm meets modern living. Rooted in rich history, this community features trails, pickleball, and a pool, plus easy access to parks, shops, and events in downtown Buda. With top-rated Hays CISD schools and proximity to Austin and major employers, it’s a perfect place to breathe easy. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

At $245/sqft, this home is priced 30% above the Buda active market average of $188/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

188 Leland Ave, Buda, TX 78610

Open in Google Maps ↗ Get Directions ↗

Property Details

Price $438,990

Status Active Listing

Beds 3

Full Baths 2

Half Baths ,

Living Area 1,792 sqft

Lot Size 0.16 acres (6,969.6 sqft)

Year Built 2026

Garage 2 spaces

Stories ,

Type Residential · Single Family Residence

Subdivision Colony at Cole Springs

County Hays

Zip Code 78610

$/sqft $245/sqft

Days on Market ,

HOA $55/Monthly

Annual Tax Est. ,

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT247434360

List Date October 1, 2026

Elementary School Buda

Middle School Eric Dahlstrom

High School Jack C Hays

School District ,

Have Questions About This Property?

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.

Schedule a Call →

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

325 Champ Ave
Colony at Cole Springs $437,990 $240 3 bd / 3 ba 1,825 sqft , 2026-09-21

296 Champ Ave
Colony at Cole Springs $439,990 $213 4 bd / 3 ba 2,069 sqft , 2026-06-03

175 Antioch Colony Dr
Colony at Cole Springs $436,990 $214 4 bd / 3 ba 2,038 sqft , 2026-09-10

160 Champ Ave
Colony at Cole Springs $434,990 $238 3 bd / 2 ba 1,825 sqft , 2026-06-03

111 Leland Ave
Colony at Cole Springs $446,990 $199 4 bd / 3 ba 2,243 sqft , 2026-06-26

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

$2,107/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

$87,798

20% conventional investment loan

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

Estimated Gross Rent+$2,107

Principal + Interest−$2,396

Property Tax (~2.1% TX avg)−$768

Insurance (~0.5%)−$183

Est. Monthly Cash Flow $-1,240

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 →

About the Author

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 →

188 Leland Ave

Location

Property Details

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Buda, TX

More Luxury Homes in Buda

188 Leland Ave

Location

Property Details

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Buda, TX

More Luxury Homes in Buda

Explore Austin Real Estate