$1,460,000
5 bd · 4 ba · 4,547 sqft
47 WATERFALL Dr, The Hills, TX 78738
47 WATERFALL Dr, The Hills, TX 78738 is a 5-bedroom, 4-bathroom single family residence listed at $1,460,000 ($321/sqft). 4,547 sqft. Built in 1993. Located in Lakeway, Austin TX. Priced 13% above the Lakeway median of $284/sqft. MLS #4051914. Listed by Keller Williams - Lake Travis.
Property Overview
This 4,547-square-foot Sterling Home commands one of the most coveted locations in The Hills at Lakeway, directly across from the championship Jack Nicklaus-designed course's signature #7 Waterfall Hole—consistently ranked among Texas's most beautiful golf holes. Positioned on 47 Waterfall Drive in Austin TX, the property showcases panoramic fairway views from two expansive covered terraces, an infinity-edge pool with outdoor kitchen, and sophisticated entertaining spaces that frame the Hill Country landscape. The five-bedroom, four-bath residence merges luxury with resort-style living, featuring a main-level primary suite, beamed ceilings, a stone and masonry exterior, and a fireplace anchoring the family room.
Inside, the floor plan reflects thoughtful design with a dedicated study, kitchen island, multiple living areas, and walk-in closets throughout. Golf course backing, mature landscaping, and gated security enhance the private retreat feel while maintaining proximity to both clubhouses via short walking paths. At $321 per square foot, the pricing reflects the exceptional location within Lakeway's sought-after golf community, where waterfront dining, marina access, and resort amenities define the lifestyle.
Vox Real Estate Insight
Vox Real Estate recognizes that homes with direct championship golf course views in The Hills consistently appreciate as premium lifestyle properties, and this Waterfall Drive location offers one of the few remaining opportunities to own across from one of Texas's signature holes. The combination of Jack Nicklaus design prestige, infinity-pool entertainment space, and Lake Travis living access makes this a rare offering that appeals to both golf enthusiasts and luxury buyers seeking Austin TX resort living.
Agent Description
Prime Location on The Hills Signature Golf Course, this exceptional 4,547-square-foot custom-built Sterling Home offers breathtaking panoramic views of two fairways and two holes, with the iconic #7 Waterfall Hole directly across the street—ranked among the top 10 most beautiful golf holes in Texas. Ideally situated within a short walk of both clubhouses, this extraordinary property offers an unparalleled combination of luxury, privacy and convenience. Designed for both sophisticated living and effortless entertaining, the home features two expansive covered terraces overlooking the championship Jack Nicklaus-designed Hills Signature Course. The outdoor living spaces are complemented by a stunning infinity-edge pool and outdoor kitchen, creating the perfect setting for entertaining or enjoying spectacular Hill Country sunsets. The thoughtfully designed interior includes five bedrooms, four full bathrooms, a main-level primary suite with direct access to the outdoor patio, a second bedroom and full bath on the main level, soaring ceilings, large picturesque windows, a spacious media room with wet bar, and a versatile flex room. A brand-new dog run adds to the home's thoughtful amenities. Residents of The Hills of Lakeway enjoy access to an impressive 72 holes of golf, including two Jack Nicklaus championship courses, along with the beauty of the Texas Hill Country and convenient proximity to boating on Lake Travis. Located within the exemplary Lake Travis ISD and less than 30 miles from Austin-Bergstrom International Airport and downtown Austin, this remarkable property offers an exceptional Hill Country lifestyle in one of Lakeway's most desirable neighborhood.
Neighborhood: Lakeway
This property is located in Lakeway, Austin, TX. The area is known for Lake Travis Living, Marina Access, Golf Courses, Waterfront Dining, Resort Lifestyle.
At $321/sqft, this listing is priced 13% above the Lakeway median of $284/sqft.
Property Details
| Property Type | Single Family Residence |
| Year Built | 1993 |
| Bedrooms | 5 |
| Bathrooms | 4 |
| Living Area | 4,547 sqft |
| Lot Size | 7,318 sqft |
| Price / Sqft | $321 |
| Stories | Two |
| Condition | Resale |
| Subdivision | Hills Lakeway Ph 05 Amd |
| County | Travis |
| MLS Area | LS |
| Listed | Aug 29, 2026 |
| MLS # | 4051914 |
| Listed By | Keller Williams - Lake Travis |
| Contact | (512) 608-6867 |
Interior
| Flooring | Carpet, Tile, Wood |
| Appliances | Built-In Oven(s), Dishwasher, Microwave, Refrigerator |
| Interior Features | Bookcases, Breakfast Bar, Ceiling Fan(s), Beamed Ceilings, Double Vanity, Eat-in Kitchen, Entrance Foyer, Kitchen Island, Multiple Living Areas, Pantry, Primary Bedroom on Main, Recessed Lighting, Study/Home Office, Walk-In Closet(s) |
| Fireplaces | 1 (Family Room) |
| Laundry | Inside, Laundry Room, Lower Level |
| Main-Level Bedrooms | 2 |
| Living Areas | 2 |
| Dining Areas | 1 |
Systems & Utilities
| Cooling | Central Air |
| Heating | Central |
| Utilities | Electricity Available, Propane |
| Water Source | MUD |
| Sewer | Public Sewer |
Exterior & Lot
| Construction | Masonry – All Sides, Stone |
| Roof | Tile |
| Foundation | Slab |
| Patio & Porch | Deck, Front Porch, Porch |
| Pool | In Ground |
| Private Pool | Yes |
| Fencing | Partial |
| Lot Features | Backs To Golf Course, Trees-Medium (20 Ft - 40 Ft) |
| View | Golf Course, Pool |
| Faces | Northwest |
Parking
| Parking Spaces | 6 |
| Garage Spaces | 2 |
| Covered Spaces | 2 |
| Parking Features | Attached |
Community & HOA
| HOA | Yes |
| HOA Name | Hills POA |
| HOA Fee | $650 / Semi-Annually |
| Fee Includes | Common Area Maintenance, Security |
| Security | Security Guard |
Assigned Schools
| Elementary | Lakeway |
| Middle | Hudson Bend |
| High | Lake Travis |
| District | Lake Travis ISD |
Taxes & Legal
| Tax Year | 2026 |
| Annual Tax | $22,742 |
| Assessed Value | $1,120,915 |
| Parcel # | 01337806200000 |
| Legal Description | LOT 478 HILLS OF LAKEWAY PHS 5 AMENDED THE |
| FEMA Flood Plain | No |
| In ETJ | No |
| Disclosures | MUD, Seller Disclosure |
| Listing Conditions | Standard |
Listing data last updated:
Frequently Asked Questions
What is the listing price of 47 WATERFALL Dr, The Hills, TX 78738?
This property is listed at $1,460,000, which is $321 per square foot. That is 13% above the Lakeway area median of $284/sqft.
How many bedrooms and bathrooms does 47 WATERFALL Dr, The Hills, TX 78738 have?
This home has 5 bedrooms and 4 bathrooms, with 4,547 square feet of living space.
When was 47 WATERFALL Dr, The Hills, TX 78738 built?
This property was built in 1993, making it 33 years old.
What neighborhood is 47 WATERFALL Dr, The Hills, TX 78738 in?
This property is in Lakeway, Austin, TX. The area is known for lake travis living, marina access, golf courses.
How long has 47 WATERFALL Dr, The Hills, TX 78738 been on the market?
This listing has been on the market for 1 day. This is a recent listing.
What type of property is 47 WATERFALL Dr, The Hills, TX 78738?
This is a Single Family Residence on a 7,318.08 sqft lot.