Active Listing  ·  34 days on market

4400 Island Ave

Austin, TX 78731
$6,500,000
5 Bed 6 Bath 8,526 sqft $762/sqft Built 1996 1.60 acres 3-Car Garage Pool Waterfront Island At Mount Bonnell Shores

Situated within The Island, one of Austin’s most coveted gated communities on Lake Austin, this exceptional waterfront estate offers a rare combination of privacy, acreage, and direct lake access. Set on 1.6 acres along a serene canal, the property includes a spacious main residence and a separate one-bedroom guest house, creating an ideal setting for both everyday living and hosting family and friends. Designed for effortless entertaining, the main home features an open floor plan that connects expansive living spaces with the outdoors. Large windows frame peaceful water views, while the covered patio with a fireplace provides a year-round gathering space overlooking the property’s lush surroundings. Five bedrooms, four full bathrooms, and two half bathrooms offer flexibility and comfort across the thoughtfully designed residence. Outdoor amenities elevate the Lake Austin lifestyle, with a private dock featuring two boat slips for easy access to boating, paddleboarding, and waterfront recreation. Combining the security and prestige of The Island with generous acreage, guest accommodations, and coveted waterfront access, this property presents a rare opportunity to experience one of Austin’s most desirable lakefront settings. Tax and assessed values are estimates for illustration purposes only. All figures should be independently verified.

At $762/sqft, this home is priced 95% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

4400 Island Ave, Austin, TX 78731

Property Details

Price $6,500,000
Status Active Listing
Beds 5
Full Baths 4
Half Baths 2
Living Area 8,526 sqft
Lot Size 1.60 acres (69,739.56 sqft)
Year Built 1996
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Island At Mount Bonnell Shores
County Travis
Zip Code 78731
$/sqft $762/sqft
Days on Market ,
HOA $3,000/Annually
Annual Tax Est. $114,303.92
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT235958746
List Date July 1, 2026
Elementary School Highland Park
Middle School Lamar (Austin ISD)
High School McCallum
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.

Schedule a Call →

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
16714 Forest Way
Hudson Bend Colony 01 Resub
$6,600,000 $875 5 bd / 6 ba 7,547 sqft , 2026-05-26
4814 Rollingwood Dr
Timberline Terrace Sec 03
$6,250,000 $1,006 6 bd / 8 ba 6,214 sqft , 2026-07-02
15210 Rainbow One St
Travis Landing
$6,750,000 $832 6 bd / 6 ba 8,116 sqft , 2026-04-10
14423 Ridgetop Ter
Comanche Point
$6,800,000 $1,082 6 bd / 6 ba 6,284 sqft , 2026-03-26
629 Casasanta Trl
Rough Hollow The Peninsula
$6,850,000 $875 5 bd / 8 ba 7,831 sqft , 2026-05-22

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
$31,200/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
$1,300,000
20% conventional investment loan

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

Estimated Gross Rent+$31,200
Principal + Interest−$35,473
Property Tax (~2.1% TX avg)−$11,375
Insurance (~0.5%)−$2,708
Est. Monthly Cash Flow $-18,356

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

More Luxury Homes in Austin

Loading…
View All Luxury Homes →