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5216 Palermo DR
Austin, TX, 78738
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$679,000
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Nestled on a coveted east facing lot in the highly desirable Terra Colinas community, this stunning single-story home captivates from the moment you arrive. Its beautiful curb appeal, complemented by a 3-car garage, sets the tone for the thoughtful design that awaits inside. Step through the door to find an open, light-filled interior with intentional features throughout, including high ceilings and elegant crown moldings, along with beautiful hardwood flooring that flows seamlessly through the main living spaces. At the heart of the home is a chef-inspired kitchen that's nothing short of a showstopper, offering abundant cabinetry, granite counters, built-in appliances including a gas range, a convenient butler's pantry, and an oversized island, intentionally crafted for entertaining. The layout includes a dedicated home office for efficient remote work, while a bonus living area is thoughtfully tucked between the two secondary bedrooms, adding versatility to the design. The owners suite is a true retreat, featuring a tray ceiling, expansive walk-in closets, and a spa-inspired bath with dual vanities, a soaking tub, and a walk-in shower. Outside, you'll enjoy the serene covered patio overlooking mature trees and the fenced backyard, ideal for relaxing evenings, morning coffee, and lively outdoor entertaining. Perfectly positioned between Summer Moon Coffee and the community pool, this home offers the ultimate in convenience and elevated living. Every detail has been designed with lifestyle and comfort in mind - this is the home you've been waiting for. Conveniently located minutes from Hill Country Galleria, Lake Travis, golf, and Hwy 71, and zoned to highly rated Lake Travis ISD schools, including Bee Cave Elementary, Bee Cave Middle, and Lake Travis High. Approximately 20 miles to Downtown Austin and 24 miles to the airport. Buyer to independently verify all info including but not limited to square footage, restrictions, taxes, schools, HOA dues, year built, etc.
Property Type
Residential
Year Built
2016
Lot Size
0.19 acres
$/Sq Ft
$236
HOA
$250/mo
Garage
6 spaces
Listed by Compass RE Texas, LLC
Verified property facts
5216 Palermo DR is listed at $679,000 with 3 bedrooms, 2 full, 1 half bathrooms, 2,872 square feet, 0.19-acre lot.
5216 Palermo DR is zoned for Lake Travis ISD with assigned schools: Bee Cave (elementary), Bee Cave Middle School (middle), Lake Travis (high). School assignments should be verified directly with the district.
5216 Palermo DR is a Residential built in 2016 featuring 3 bedrooms, 2 full, 1 half bathrooms, 2,872 square feet, 0.19-acre lot.
5216 Palermo DR is presented by the Keenan Group at Compass Real Estate, the #1 Austin Board of Realtors Team (2024) with 1,000+ career transactions and $1B+ in career volume across Austin's luxury market.
The most recent annual property tax for 5216 Palermo DR is $16,658. 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.
#1 Austin Board of Realtors Team. Over 1,000 successful transactions with high-end expertise.
25+ years advising buyers and sellers in this community
Property Details
Features
Appliances
Flooring
Features
Construction
Lot Features
Fencing
Foundation
Patio / Porch
Parking
Waterfront
Pending 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 |
|---|---|---|---|---|
2025-14.0% | — | $701,705 | — | — |
2024-2.4% | — | $815,526 | $175,000 | $597,926 |
2023+54.4% | — | $835,394 | $72,500 | $743,026 |
2022 | — | $540,904 | $72,500 | $762,894 |
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% ($136K)
$679,000
Luxury property intelligence
A sourced read on Terra Colinas Ph 1 pricing, timing, and property scale. No automated valuation claim.
List price
$679,000
Price per sqft
$236/sqft
Vs. Terra Colinas Ph 1 median
Not available
Days on market
65 days
Original to current
No verified reduction
$679K original
Active inventory context
Ask for current inventory
Source: MLS Grid / Unlock MLS and Keenan Group review as of Jun 5, 2026.
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#1 ABOR Team 2024 with $1B+ career sales volume
With 20% down ($135,800) on a 30-year fixed mortgage at approximately 6.75%, the estimated monthly payment for 5216 Palermo DR is around $4,911 including principal, interest, and estimated taxes. Actual payment varies by rate, down payment, insurance, and HOA fees.
At $679,000, 5216 Palermo DR is in the Terra Colinas Ph 1 market where there are currently 235 active listings in 78738. The Keenan Group has completed 19 transactions in 78738 as part of 1,000+ career sales totaling $1B+ across Austin.
5216 Palermo DR was built in 2016, making it 10 years old with relatively recent construction.
5216 Palermo DR includes verified waterfront access: None. Buyers should confirm shoreline, dock rights, and floodplain status during due diligence.
5216 Palermo DR is part of a managed community with HOA dues of $250 quarterly. HOA-managed communities in Austin's luxury market typically provide amenities such as common areas, security, and exterior maintenance. Verify current dues and rules with the HOA directly.
Answers use visible listing facts, school context, and neighborhood data available on this page. Verify time-sensitive details before making decisions.
8 events on record
Current Price
$679,000
Timeline data compiled from MLS records and public records. Information deemed reliable but not guaranteed.
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025-14.0% | — | $701,705 | — | — |
2024-2.4% | — | $815,526 | $175,000 | $597,926 |
2023+54.4% | — | $835,394 | $72,500 | $743,026 |
2022 | — | $540,904 | $72,500 | $762,894 |
Timeline merges MLS activity (when permitted) with public records. Some details may be restricted to registered VOW clients.
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