5 Water Front Ave, Lakeway, TX 78734

Overlooking sparkling Lake Travis, this Italian-villa-inspired waterfront estate offers one of the most spectacular views in Lakeway and sits high on a rare two-acre homesite within the prestigious, gated community of the Water Front. The home is setback off a quiet cul-de-sac behind a private gated entrance and long driveway, providing an exceptional sense of privacy and scale that’s hard to come by in the coveted Old Lakeway area. Combined with expansive manicured lawns, lush landscaping, and an elegant courtyard with a striking fountain pool, the curb appeal is dramatic and impressive. Custom built by award-winning Vintage Builders, the home showcases outstanding craftsmanship and timeless architectural details including handpainted barrel ceilings, extensive built-in woodwork, and an infinity-edge pool overlooking the deep waters of Lake Travis. The floorplan, spanning approximately 5,200 SF, was thoughtfully designed with beautiful spaces for everyday comfort and sophisticated entertaining. Multiple living and dining areas are found throughout the home, as well as dual master suites on the first floor and two additional guest bedrooms upstairs both with private en suite bathrooms. Plus unique features like the grand foyer, wood-paneled family room, and two-story study add flair and multi-purpose function.

With unforgettable views, exquisite style, and resort-style living 5 Water Front Avenue is a one-of-a-kind lakefront estate in the heart of Lakeway, the caliber of which rarely becomes available.

The panoramic vista of Lake Travis from 5 Water Front Ave in Lakeway defines every room in this 5,270 square foot waterfront estate. The home sits elevated on 2.002 acres within the gated Water Front community, positioned to capture unobstructed views of the lake's deep waters from multiple vantage points throughout the residence. Built in 2002 by award-winning Vintage Builders, the Italian villa-inspired design was engineered around the view - not the other way around.

The architecture maximizes the sightline through expansive windows and glass doors that frame Lake Travis like living artwork. The primary living spaces face the water with intentional orientation that transforms the landscape into the home's focal point. Hand-painted barrel ceilings and extensive built-in woodwork create visual interest indoors, but the real draw pulls your attention outward. The wood-paneled family room and two-story study both leverage the view as their defining feature. Two primary suites occupy the main floor, allowing you to wake to Lake Travis from multiple bedrooms.

The outdoor living spaces are where the view truly reveals its power. The infinity-edge pool appears to spill into the lake itself, merging the water feature with the larger expanse beyond. A covered terrace and multiple patios extend directly from the home's main level, creating seamless transitions between interior and exterior living. A private gated entrance off the quiet cul-de-sac leads through landscaped grounds to the residence, establishing a sense of arrival that builds anticipation for the views to come.

Living at 5 Water Front Ave in Lakeway's Lake Travis Independent School District - which includes Serene Hills Elementary, Hudson Bend Middle, and Lake Travis High School - means a lifestyle centered on water recreation and outdoor entertaining. The 3-car garage, wet bar, outdoor grill, and courtyard with fountain pool support the full-time use of the property as a personal resort. With recent sales activity indicating strong waterfront demand and pricing at $750 per square foot, this 78734 property represents the rare convergence of Lake Travis views, established Lakeway location, and architectural substance that anchors generational family memories.

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.