This rare 2.19-acre lakefront property offers a once-in-a-generation opportunity on Lake LBJ! With 311' of wide open cove frontage, the setting is ideal for swimming, paddleboarding, fishing, or simply enjoying peaceful lake views. At the heart of the property is a stunning 100-foot waterfall designed to mimic a natural spring. Flowing through the center of the land, it adds a tranquil, unforgettable focal point. The existing 3-bed, 2-bath home offers comfortable living as-is and could serve as a base for your dream build or family compound. There's a covered carport, dedicated storage for lake toys, and ample room to expand — including space for a pool or multiple new builds. Zoned to allow short-term rentals, this property presents unique investment and redevelopment potential, with access from three separate roads (Castlehigh Dr, Mallard Point, and N Shorewood Dr). With the ability to develop 2 to 3 lake homes, it’s the perfect setup for a private family estate or boutique rental retreat. Follow the virtual tour link for an example of what you can expect from a new build! Lakefront properties with this much acreage and flexibility are almost unheard of—don't miss the chance to create something truly special, a legacy-level investment on Lake LBJ!