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$4,990,000
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Value on Lake Austin. 4511 Island Cove is a remarkable waterfront estate set on over half an acre within The Island, one of Austin’s most coveted gated communities. An exquisite collaboration between Impact Design and Corias Homes, the residence features 5 bedrooms, 5 full bathrooms, and 1 half bath. A tranquil fountain welcomes you upon arrival, setting the tone for the Italian-inspired elegance found throughout the home. Ornate columns, graceful archways, and dramatic chandeliers create a sense of timeless sophistication. As you enter the home’s grand foyer you are welcomed by an esteemed double-height study adorned with rich wood finishes. The warm kitchen showcases wood-beamed ceilings, high-end stainless steel appliances, and a functional layout that opens to the main living area and dining room. Wine storage adds to the home’s entertaining appeal, while ample terraces and covered patios extend the living experience outdoors. The expansive primary suite serves as a private escape, featuring a double-sided fireplace, direct access to the backyard oasis, and a massive, spa-like bathroom. Outdoors, the serene grounds unfold toward the water, offering peaceful covered patios and multiple spaces to relax or entertain. A private hydraulic boat slip provides effortless access to Lake Austin living. Residents enjoy privacy, security, and a premier waterfront lifestyle just moments from downtown Austin. This exceptional property blends timeless architecture, thoughtful craftsmanship, and an unparalleled location to create a truly special retreat on the water. Tax and assessed values are estimates for illustration purposes only. All figures should be independently verified.
Property Type
Residential
Year Built
1998
Lot Size
0.53 acres
$/Sq Ft
$643
HOA
$3,000/year
Garage
3 spaces
Pool
Yes
Listed by Moreland Properties
Verified property facts
4511 Island CV is listed at $4,990,000 with 5 bedrooms, 5 full, 1 half bathrooms, 7,760 square feet, 0.53-acre lot. This places it above the ZIP 78731 single-family closed-sale median price of $1,209,000 (ZIP 78731 geography · single-family closed sales · median sale price · trailing 12 months as of Aug 30, 2026).
4511 Island CV is zoned for Austin ISD with assigned schools: Highland Park (10/10) (elementary), Lamar (Austin ISD) (middle), McCallum (8/10) (high). School assignments should be verified directly with the district.
4511 Island CV is a Residential built in 1998 featuring 5 bedrooms, 5 full, 1 half bathrooms, 7,760 square feet, 0.53-acre lot.
4511 Island CV is listed by Moreland Properties. Keenan Group at Compass presents this IDX listing and provides the accompanying market analysis using MLS Grid / Unlock MLS data reviewed as of Jun 5, 2026.
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Property Details
Features
Appliances
Flooring
Features
Construction
Lot Features
Fencing
Foundation
Patio / Porch
Parking
Waterfront
5 records on file
Every recorded listing, sale, and lease at 4511 Island CV, whoever represented it.
Prices shown are list prices. Closed sale prices are available to registered clients in accordance with ACTRIS rules.
Active Under Contract with current price, original ask, and market time.
Public record data from county appraisal records. Market value can differ from assessed value.
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025+9.8% | — | $5,213,599 | — | — |
2024-5.0% | — | $4,749,000 | $3,832,495 | $1,417,505 |
2023+12.5% | — | $5,000,000 | $2,445,300 | $2,303,700 |
2022 | — | $4,444,700 | $2,445,300 | $2,554,700 |
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. Ratings from GreatSchools.org.
20% ($998K)
Adjustable assumption - not a lending recommendation.
$4,990,000
Luxury property intelligence
A sourced read on ISLAND AT MT BONNELL SHORES pricing, timing, and property scale. No automated valuation claim.
List price
$4,990,000
Price per sqft
$643/sqft
Vs. Neighborhood guide reference price
Not available
Days on market
Not available
Original to current
$960K reduction
$6M original
Active inventory context
Ask for current inventory
Source: MLS Grid / Unlock MLS and Keenan Group review as of Jun 5, 2026.
Request Private Market AnalysisZIP-level neighborhoods, schools, lifestyle, and Austin market context
Active 78731 listings and Northwest Hills market context
District guide, nearby schools, and homes by attendance area
Private Austin CMA, TCAD context, and pricing strategy
Pricing, prep, launch timing, and Compass marketing strategy
#1 ABOR Team 2024 with $1B+ career sales volume
The most recent annual property tax for 4511 Island CV is $106,696. Texas has no state income tax, so property taxes are a primary revenue source. Rates vary by jurisdiction and exemptions. Verify current amounts with the county appraisal district.
This page does not assume a mortgage rate or publish a monthly payment for 4511 Island CV. A property-specific estimate requires a current lender rate, chosen down payment, taxes, insurance, and any verified association dues.
As of Jun 5, 2026, 4511 Island CV is offered at $4,990,000. The current MLS snapshot shows 63 active listings in 78731. Keenan Group has completed 107 verified transactions in 78731 within its 1,000+ completed transactions and $1B+ career volume across Austin.
The MLS listing marks 4511 Island CV as waterfront. The reported waterfront feature is Lake Front. Confirm shoreline access, dock rights, and floodplain status from current property documents during due diligence.
The MLS listing reports HOA or association dues of $3,000 annual for 4511 Island CV. It does not establish included amenities, services, rules, reserves, or current assessments; verify those items in current association documents.
Answers use visible listing facts, school context, and neighborhood data available on this page. Verify time-sensitive details before making decisions.
Car-Dependent
No Nearby Transit
Somewhat Bikeable
Walk Score measures walkability based on distance to amenities. Transit Score measures public transportation access. Bike Score measures bikeability based on bike infrastructure and terrain.
19 events on record
Current Price
$4,990,000
Timeline data compiled from MLS records and public records. Information deemed reliable but not guaranteed.
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025+9.8% | — | $5,213,599 | — | — |
2024-5.0% | — | $4,749,000 | $3,832,495 | $1,417,505 |
2023+12.5% | — | $5,000,000 | $2,445,300 | $2,303,700 |
2022 | — | $4,444,700 | $2,445,300 | $2,554,700 |
Timeline merges MLS activity (when permitted) with public records. Some details may be restricted to registered VOW clients.
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