Active Listing  ·  89 days on market

203 Bella Riva Dr

Austin, TX 78734
$3,750,000
5 Bed 7 Bath 6,326 sqft $593/sqft Built 2002 2.17 acres 4-Car Garage Pool Waterfront Costa Bella

Designed by acclaimed architect Jeffrey Berkus, this extraordinary waterfront estate on Lake Travis is set on more than 2 acres within the gated Costa Bella community. Positioned on a protected deep-water cove, the property features a private tram and observation deck leading to a two-slip boat dock with HydroHoist lifts. Expansive terraces and balconies capture sweeping lake views, while walls of windows bring the waterfront setting into nearly every major living space. Thoughtfully designed for both everyday living and entertaining, the residence includes five en-suite bedrooms, including a detached casita with a private entrance and kitchenette. High ceilings, exposed wood beams, natural stone accents, and custom millwork create a warm yet sophisticated atmosphere throughout. The recently updated kitchen features refreshed finishes, a Janska range, and a fireplace that adds to the luxurious ambiance. The primary suite serves as a private retreat with a fireplace, coffee bar, spa-inspired bath, terrace access, and panoramic water views. Exceptional outdoor living features a heated pool, expansive patios, and multiple vantage points for enjoying sunsets over the lake. Recent enhancements include HVAC systems, retaining wall and foundation improvements, pool upgrades, Tesla solar panels with three Powerwall batteries, and integrated smart lighting. Residents of Costa Bella enjoy access to a waterfront clubhouse, resort-style pool, fitness center, tennis and basketball courts, and community event spaces, completing one of Lake Travis' most exceptional waterfront offerings. Tax and assessed values are estimates for illustration purposes only. All figures should be independently verified.

At $593/sqft, this home is priced 51% above the Austin active market average of $392/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

203 Bella Riva Dr, Austin, TX 78734

Property Details

Price $3,750,000
Status Active Listing
Beds 5
Full Baths 5
Half Baths 2
Living Area 6,326 sqft
Lot Size 2.17 acres (94,394.52 sqft)
Year Built 2002
Garage 4 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Costa Bella
County Travis
Zip Code 78734
$/sqft $593/sqft
Days on Market ,
HOA $4,508.2/Annually
Annual Tax Est. $61,561.06
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT237294290
List Date June 26, 2026
Elementary School Lake Travis
Middle School Hudson Bend
High School Lake Travis
School District ,

Luke Allen (TREC #788149) has deep knowledge of Austin and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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Similar Homes on the Market in Austin

Comparable Listings Right Now

Homes currently for sale in Austin 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
201 Costa Bella Dr
Costa Bella
$3,650,000 $522 5 bd / 6 ba 6,986 sqft , 2026-06-18
16005 Chateau Ave
Vineyard Bay Ph 01
$2,995,000 $500 5 bd / 6 ba 5,988 sqft , 2026-05-08
103 Bella Cima Dr
Costa Bella Sec 02
$2,995,000 $429 5 bd / 6 ba 6,987 sqft , 2026-07-17
206 BELLA CIMA Dr
COSTA BELLA
$2,799,000 $462 5 bd / 5 ba 6,056 sqft , 2026-05-27

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
$18,000/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
$750,000
20% conventional investment loan

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

Estimated Gross Rent+$18,000
Principal + Interest−$20,465
Property Tax (~2.1% TX avg)−$6,563
Insurance (~0.5%)−$1,563
Est. Monthly Cash Flow $-10,591

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 →

Commute & Employment

Major Employers Near Austin, TX

Austin sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Tesla Gigafactory 15-25 min E
Apple Campus (Domain) 20-30 min N
Google / Meta / Indeed 10-15 min downtown
Dell Medical School / UT Austin 10-20 min
Samsung Austin Semiconductor 25 min N

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About the Author
Luke Allen, Austin TX Realtor, TREC #788149
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 September 22, 2026.

📞 (254) 718-2567 [email protected] More about Luke →