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5 bed, 6 bath, 6,110 sqft on 1.21 acres in Lakeway. Austin, TX 78734. Last listed at $2,495,000, sold August 31, 2022. Lake Travis ISD.
About This Home
Beautiful home on 1.2 acres of lush landscaping in the gated community of Bella Montagna with hill country views. This former model has all the custom upgrades including a Chef's Kitchen with 3 ovens, high end appliances and an oversized island. This entertainer's or extended family's dream has 5 bedrooms with on-suite baths. Two primary suites on the main floor both have spa like features. Lower level game room which includes a wine tasting room/cellar which holds over 600 bottles, media room and bar half kitchen area with a full size fridge. The outdoor living area is amazing with it's covered patio, Power screens, built in grill, fridge, storage, sink and plenty of counter space for outdoor meal prep. The custom built Oasis style heated pool & spa complete with a soothing waterfall is idea for those serenity moments or hot summer days. Enjoy the outdoor fireplace on the cooler nights or just for the ambiance. The backyard has plenty of space for a playscape, putting green, trampoline or just running space for kids & pets. This house has it all and will WOW!
Lakeway is the only city in the Austin metro where you can step off an 18th green, drive three minutes to a full-service marina, and be on the water before your golf shoes are off. That combination of golf and lake access within a single small city defines the lifestyle and explains why the community has attracted a specific kind of buyer for more than 50 years - people who want resort-quality recreation woven into daily routine rather than saved for vacation.
Lakeway sits on the south shore of Lake Travis, about 20 miles west of downtown along Highway 71 and Ranch Road 620. The drive downtown takes 25 to 35 minutes depending on traffic at the 620/2222 interchange. The 620 corridor runs through the commercial district with H-E-B, medical offices, and growing restaurant and retail options. Bee Cave and Hill Country Galleria sit just south on 71, adding another tier of shopping within 10 minutes. The marina community gives waterfront access ranging from personal watercraft to full-size wakeboarding boats.
Hill Country Contemporary homes make up about 30% of inventory, featuring limestone, metal roofing, and expansive glass. Mediterranean designs account for 25%, popular in gated and golf course sections. Traditional Ranch homes represent 20%, concentrated in older sections near the original resort. The rest splits between Modern Farmhouse and custom contemporary on ridgeline lots. Lot sizes range from 8,000 square feet in townhome sections to full-acre spreads in Rough Hollow. Pricing starts in the low $500s for older condos, runs through $700,000 to $1.2 million for standard single-family, and reaches $3 million for waterfront or golf-front custom properties.
Lake Travis ISD serves Lakeway and consistently draws families relocating from central Austin. Lakeway Elementary and Serene Hills Elementary feed into Hudson Bend Middle School and Lake Travis High School. Lake Travis High competes at 6A across Texas athletics with a strong football tradition alongside solid academics and fine arts. District facilities are newer than most Austin ISD campuses, and per-student spending is competitive with Eanes ISD at a lower tax rate.
The daily rhythm follows the lake and golf courses. Morning fog on Lake Travis burns off by 9 AM, and early risers are already on the water - kayaking coves, fishing bluffs, or running ski boats before afternoon wind. Lakeway Resort and Spa offers pool and fitness facilities, and Flintrock Falls Golf Club provides a Hill Country course. The Canyonlands trail system and Mount Lakeway trail offer hill hiking with lake views. Hamilton Greenbelt provides a shaded creek walk. For dining, The Grove Wine Bar anchors the upscale casual tier. SP Brazilian Steakhouse brings the full churrasco experience. Canyon Grille does American fare in a golf course setting. The Gramercy adds a polished New American option. MorninGlory handles breakfast with the consistency that turns a restaurant into a weekend ritual.
Lakeway is more developed than Jonestown and Lago Vista to the north, which offer lower prices but less infrastructure. It is less expensive than waterfront estates in Point Venture. And it provides a more recreational lifestyle than Bee Cave, which has better highway access but less lake connection. The main consideration is the 620 corridor, which can slow to a crawl during peak hours.
Lakeway works for buyers who want lake and golf access as a daily reality. It fits retirees with flexibility to enjoy the water on quiet weekday mornings. It suits families who value Lake Travis ISD and want kids growing up on the water. It works for remote workers who can schedule around the commute. If you need to be downtown every day by 8, the commute will wear on you. But if your priorities are outdoor recreation, strong schools, and a pace a few beats slower than central Austin, Lakeway makes a compelling case.
School District: Lake Travis ISD
View Lakeway neighborhood guide- Property Type
- Residential
- Year Built
- 2005
- Lot Size
- 1.21 acres
- Price / Sq Ft
- $408
- HOA
- $1,440/year
- Garage
- 3 spaces
- Pool
- Yes
Listing information last updated September 1, 2022.
Listed by Keller Williams - Lake Travis
MLS# 1656238 • Closed
IDX inquiries: Keenan Group at Compass · (512) 415-7653
Properties displayed may be listed or sold by various participants in the MLS.
Highlights
Facts & Features
Interior
- Two Primary Suties
- Bar
- Built-in Features
- Ceiling Fan(s)
- Granite Counters
- Crown Molding
- Double Vanity
- Kitchen Island
- Multiple Dining Areas
- Multiple Living Areas
- Pantry
- Primary Bedroom on Main
- Recessed Lighting
- Walk-In Closet(s)
- Wet Bar
- Built-In Gas Oven
- Convection Oven
- Dishwasher
- Disposal
- Microwave
- Oven
- Refrigerator
- Self Cleaning Oven
- Stainless Steel Appliance(s)
- Carpet
- Stone
- Wood
- Heating
- Central
- Cooling
- Central Air
- Fireplaces
- 4
Exterior & Lot
- Balcony
- Barbecue
- Gas Grill
- Gutters Full
- Lighting
- Outdoor Grill
- Private Yard
- Masonry – All Sides
- Back Yard
- Corner Lot
- Landscaped
- Private
- Sprinkler - Automatic
- Sprinklers In Rear
- Sprinklers In Front
- Sprinklers On Side
- Views
- Back Yard
- Fenced
- Wrought Iron
- Slab
- Covered
- Terrace
- Roof
- Concrete,Tile
- Lot Size
- 1.21 Acres
- Attached
- Garage Faces Side
- Garage Spaces
- 3
- Pool
- Yes
Financial
- HOA Fee
- $1,440 / year
- Original List Price
- $2,875,000
- Price per Sq Ft
- $408
Utilities
- Electricity Connected
- High Speed Internet
- Propane
- Water Connected
- Water Source
- MUD
- Sewer
- Septic Tank
Transaction History
1 record on file
Every recorded listing, sale, and lease at 209 Palazza Alto DR, whoever represented it.
- SoldAugust 31, 2022Listed at: $2,875,000MLS 1656238
Prices shown are list prices. Closed sale prices are available to registered clients in accordance with ACTRIS rules.
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Price & Listing History
Listing timeline with current price, original ask, and market time.
- Current list
- $2,495,000
- Original list
- $2,875,000
- Price movement
- $380K reduction
- Listed / DOM
- Jun 10, 2022
Tax Record
Public record data from county appraisal records. Market value can differ from assessed value.
- Assessed Value
- $1,995,555
- Assessment Year
- 2025
- Year Built
- 2005
- Parcel ID
- 000000522480
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025-8.6% | — | $1,995,555 | — | — |
2024-18.6% | — | $2,183,892 | $520,000 | $1,576,577 |
2023+94.6% | — | $2,683,450 | $384,000 | $1,799,892 |
2022 | — | $1,379,000 | $300,000 | $2,383,450 |
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Zoned Schools & District Context
Lake Travis
Hudson Bend
Lake Pointe Elementary
Zoned assignments come from the property school fields available to us. District context schools are shown only when an assigned tier is missing. Contact the school district directly to verify current boundaries and enrollment eligibility.
Excluded from this estimate: property taxes and home insurance. Each requires verified amount, cadence or unit, source, and as-of details.
HOA source: MLS Grid / Unlock MLS, as of 2026-06-03T17:30:07.805009+00:00; normalized from annual dues.
20% ($499K)
Adjustable assumption - not a lending recommendation.
$2,495,000
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Keenan Market Position
A sourced read on Lakeway pricing, timing, and property scale. No automated valuation claim.
List price
$2,495,000
Price per sqft
$408/sqft
Vs. Neighborhood guide reference price
+193.5%
$850K · Lakeway neighborhood guide · reference price
Days on market
Not available
Original to current
$380K reduction
$2.9M original
Active inventory context
148 listings
Price Position in Lakeway
Listed 194% above the Lakeway neighborhood guide reference price. Lakeway neighborhood guide · reference price.
Source: MLS Grid / Unlock MLS and Keenan Group review as of Jun 3, 2026.
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Lakeway Neighborhood Guide
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78734 ZIP Guide
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Lake Travis ISD Schools
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