OPEN CANAL VIEWS! HUGE LOT! TWO LIVING SPACES! LARGE SQUARE FOOTAGE!! Welcome to 488 Margo Lane! Located in the coveted canal neighborhood of Island Moorings, this ICONIC 5-bedroom 4 bath home offers SO MANY unique and desired qualities!! Starting upstairs, the inverted floor plan hosting an open kitchen/living/dining space with cozy fireplace lives beautifully. Outside, the complete wrap around balcony extends the living space and offers stunning OPEN CANAL VIEWS!! Upstairs is complete with a spacious master suite, king guest bedroom, flexible study/bedroom, full bath and designated laundry room. Downstairs offers 2 guest bedrooms with king beds and en-suite bathrooms. A second family room entertains beautifully. Imagine grilling diner in the backyard and enjoying a family meal while taking in the great views! The updated dock space offers 2 boat slips with lifts. Unique to Port Aransas real estate, this property sits on a HUGE LOT! Extending down Bayside and fronting Margo Lane, there is plenty of room to add a pool, guest house or both! Offering a 3 car drive through garage, ample parking and plenty of storage this home would make a lovely primary residence or fabulous second home. Make your island dreams come true at 488 Margo Lane!
For sale
Price cut: $100K (8/6)
$1,795,000
488 Margo Ln, Port Aransas, TX 78373
5beds
3,366sqft
Single Family Residence
Built in 1998
0.41 Acres Lot
$1,694,500 Zestimate®
$533/sqft
$42/mo HOA
What's special
Cozy fireplaceWrap around balconyHuge lotUpdated dock spaceTwo living spacesInverted floor planSpacious master suite
- 298 days
- 284
- 7
Zillow last checked:
Listing updated:
Listed by:
Ryan Richter 361-815-6784,
Tarpon Realty
Source: South Texas MLS,MLS#: 467366
Originating MLS: Corpus Christi
Originating MLS: Corpus ChristiFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 4
- Full bathrooms: 4
Cooling
- Central Air
Appliances
- Included: Dishwasher, Electric Cooktop, Refrigerator, Dryer, Washer
Features
- Open Floorplan, Breakfast Bar
- Flooring: Tile
- Has fireplace: Yes
- Fireplace features: Wood Burning
Interior area
- Total structure area: 3,366
- Total interior livable area: 3,366 sqft
Video & virtual tour
Property
Parking
- Total spaces: 6
- Parking features: Concrete, Front Entry, Garage, Rear/Side/Off Street
- Garage spaces: 3
Features
- Levels: Two
- Stories: 2
- Patio & porch: Covered, Deck, Patio
- Exterior features: Boat Lift, Deck, Dock, Dog Run, Sprinkler/Irrigation
- Pool features: None
- Fencing: Wood
- Has view: Yes
- View description: Water
- Has water view: Yes
- Water view: Water
- Waterfront features: Channel, Boat Ramp/Lift Access, Canal Access
Lot
- Size: 0.41 Acres
- Features: Corner Lot, Landscaped
Details
- Parcel number: 547400010060
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- HardiPlank Type
- Foundation: Slab
- Roof: Shingle
Condition
- Year built: 1998
Utilities & green energy
- Utilities for property: Municipal Utilities
Community & HOA
Community
- Subdivision: Mustang Beach
HOA
- Has HOA: Yes
- Amenities included: Other
- Services included: Other
- HOA fee: $500 annually
Location
- Region: Port Aransas
Financial & listing details
- Price per square foot: $533/sqft
- Tax assessed value: $1,566,798
- Annual tax amount: $20,679
- Date on market: 11/5/2025
- Cumulative days on market: 298 days
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
Estimated market value
$1,694,500
$1.61M - $1.78M
$4,957/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/6/2026 | Price change | $1,795,000-5.3%$533/sqft |
Source:  South Texas MLS #467366 Report a problem | ||
| 8/4/2026 | Listed for sale | $1,895,000$563/sqft |
Source: South Texas MLS #467366 Report a problem | ||
| 3/17/2026 | Contingent | $1,895,000$563/sqft |
Source: South Texas MLS #467366 Report a problem | ||
| 11/5/2025 | Listed for sale | $1,895,000-5%$563/sqft |
Source: South Texas MLS #467366 Report a problem | ||
| 9/24/2025 | Listing removed | $1,995,000$593/sqft |
Source: South Texas MLS #460190 Report a problem | ||
| 6/6/2025 | Listed for sale | $1,995,000+17.7%$593/sqft |
Source: South Texas MLS #460190 Report a problem | ||
| 11/10/2019 | Listing removed | $1,695,000$504/sqft |
Source: Keith Donley Real Estate #336030 Report a problem | ||
| 10/18/2018 | Listed for sale | $1,695,000$504/sqft |
Source: Keith Donley Real Estate #336030 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $20,679 -8.5% | $1,566,798 -10.9% |
| 2024 | $22,599 -11.7% | $1,757,763 -13.2% |
| 2023 | $25,603 +18.7% | $2,026,001 +45.2% |
| 2022 | $21,560 +40.2% | $1,395,000 +45.4% |
| 2021 | $15,378 +11.4% | $959,167 +17.8% |
| 2020 | $13,804 -13.7% | $814,230 -10.4% |
| 2019 | $16,004 | $908,380 +3.5% |
| 2018 | $16,004 +5.6% | $877,283 -1.9% |
| 2017 | $15,150 +6.7% | $893,966 +7.7% |
| 2016 | $14,197 | $830,138 +5.7% |
| 2015 | $14,197 | $785,276 +4.9% |
| 2014 | $14,197 | $748,286 +23.2% |
| 2012 | -- | $607,603 +2.6% |
| 2011 | -- | $592,350 |
| 2010 | -- | $592,350 -15.7% |
| 2009 | -- | $703,052 -18.9% |
| 2008 | -- | $866,921 -0.8% |
| 2007 | -- | $873,955 +16.7% |
| 2006 | $18,775 +48.4% | $748,906 +43.8% |
| 2005 | $12,652 | $520,697 +4.1% |
| 2004 | -- | $500,286 +16.3% |
| 2003 | -- | $430,328 +0.8% |
| 2002 | -- | $427,049 +7.6% |
| 2001 | -- | $396,979 +30.9% |
| 2000 | -- | $303,191 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 78373
Nearby schools
Schools provided by the listing agent
- Elementary: Olsen
- Middle: Brundrett
- High: Port Aransas
- District: Port Aransas ISD
Source: South Texas MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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