Set on over 2.5 acres with approximately 175 ft of Lake Austin waterfront, this exceptional property offers a rare combination of privacy, views, & lifestyle within the gated waterfront enclave of Bellagio in Steiner Ranch. Positioned near the end of the road, the home enjoys a uniquely peaceful setting, with the front of the property facing designated green space & the rear overlooking the lake and the protected Balcones Canyonlands Preserve across the water—creating a sense of openness & natural beauty that's difficult to replicate. Steiner Ranch is one of Austin's most sought-after communities, known for its top-rated schools, scenic trails, parks, & proximity to Lake Austin, while still offering convenient access to major employers, shopping, & dining. Bellagio sits among the most desirable sections of the neighborhood, prized for its gated privacy and direct waterfront access. The home features a highly functional and flexible floor plan with the primary suite, guest bedroom, and office on the main level, along with two living areas, including a spacious game room. Upstairs, you'll find three additional bedrooms and two bathrooms, ideal for family or guests. Recently painted and lightly updated, the home presents a wonderful opportunity to personalize and tailor to your own style. Outdoor living is truly exceptional, highlighted by a large pool with swim-up bar, hot tub, fire pit, and multiple entertaining spaces. A koi pond and dramatic waterfall wall add visual interest & tranquility, while the manicured lawn gently slopes to the water, providing easy lake access. At the shoreline, a two-slip boat dock is topped by a covered party deck, perfect for enjoying lake days, sunsets, and views across the water to the preserve. With expansive lake views, protected natural surroundings, & a prime location within Steiner Ranch, this property offers a rare opportunity to enjoy true waterfront living in one of Austin's most established & desirable communities.