Active Listing  ·  30 days on market

421 Hillview Dr

Granite Shoals, TX 78654
$4,995,000
6 Bed 7 Bath 5,350 sqft $934/sqft Built 2021 1.30 acres 1-Car Garage Pool Waterfront Castle Hills

Welcome to the one-of-a-kind, estate-style luxury escape on Lake LBJ. This exceptional residence boasts a generous 5,350 square feet of living space and is situated on an expansive waterfront lot. Step inside this spectacular home to a very open floorplan, six comfortably sized bedrooms, including an awesome bunkroom. The interior design effortlessly blends comfort with elegance, offering a warm and inviting atmosphere that makes this house truly feel like a home, accompanied by unmatched views of Lake LBJ from most every angle and space. For those who enjoy staying active, you'll appreciate the private pickleball court and fitness room complete with its own half bath for convenience. These amenities offer endless opportunities for exercise, relaxation, and fun without ever having to leave your property. The exterior of this home is just as impressive as its interior. The soft contemporary design was completed in 2021 and is sure to impress. The outdoor kitchen and dining area with wrap around porch is a great place to enjoy lake life with family and friends. With over 800 feet of waterfront on Lake LBJ—renowned for its constant water level—this rare find offers unparalleled lakeside living. The granite outcroppings add a unique touch to the landscape, while the vast yard provides ample space for outdoor activities or simply enjoying the beauty of nature. Boating enthusiasts will be thrilled with the Boat House which features three slips, sized for boats of today with ample clearance for a tower or Bimini and separate parking for wave runners. Whether you love water skiing, fishing or simply cruising around the lake, this feature ensures your watercraft are safely stored and always ready for your next adventure. 421 Hillview Dr embodies luxury lakeside living in the Texas Hill Country. This property could be an ideal match for anyone seeking a blend of elegance, comfort, and outdoor adventure on a one-of-a-kind oversized lot with the BEST frontage money can buy.

At $934/sqft, this home is priced 116% above the Granite Shoals active market average of $433/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

421 Hillview Dr, Granite Shoals, TX 78654

Property Details

Price $4,995,000
Status Active Listing
Beds 6
Full Baths 5
Half Baths 2
Living Area 5,350 sqft
Lot Size 1.30 acres (56,628 sqft)
Year Built 2021
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Castle Hills
County Burnet
Zip Code 78654
$/sqft $934/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $60,936.34
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT246514020
List Date September 24, 2026
Elementary School Highland Lake
Middle School Marble Falls
High School Marble Falls
School District ,

Luke Allen (TREC #788149) has deep knowledge of Granite Shoals 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 Granite Shoals

Comparable Listings Right Now

Homes currently for sale in Granite Shoals 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
2510 Belaire East Ln
Bel Air Sherwood Shores
$4,950,000 $801 6 bd / 7 ba 6,181 sqft , 2026-05-21

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
$23,976/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
$999,000
20% conventional investment loan

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

Estimated Gross Rent+$23,976
Principal + Interest−$27,260
Property Tax (~2.1% TX avg)−$8,741
Insurance (~0.5%)−$2,081
Est. Monthly Cash Flow $-14,106

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 Granite Shoals, TX

Granite Shoals 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 October 24, 2026.

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