Marq and Lynda Jones found the perfect country retreat on the shores of Lake Austin 20 years ago. Here, at 511 River Road, Lot A, they could raise their children, ride horses, water-ski and tend a garden.

They bought at a time when Lakeway was a quiet little town and retreats like this one dotted this area off RM 620. Lynda Jones even used to pick her daughter up from elementary school by horse.

Now, as city life has reached deeper into this area, the quiet of this 4½-acre spot is especially welcomed.

The Joneses — he a retired airline pilot, she an artist and former teacher — plan to downsize their home to be able to lock and go when they want to hop in their plane and fly around the country.

They have listed the property for $3.895 million with Peggy Schatz of Keller Williams Realty.

The property has been a work in progress for the couple. When the Joneses first moved to the property, they bought two acres, which had just a barn with a two-bedroom, two-bathroom apartment on the upper level. That apartment features an open living room and full kitchen. This is where they lived when their two children were small.

In 1995, when their neighbor decided to sell an adjoining 2½ acres, the Jones bought it and began planning for a larger home.

A massive, old oak tree dictated the layout of the three-bedroom, two-bathroom house. One side of one wing of the house gets tucked underneath the tree's sprawling branches, giving a bedroom the feel of being in the tree. The other side of the house was designed to take advantage of the Lake Austin view with large windows and porches.

As their two children became teenagers, the Joneses decided to build a detached guest house for them in 2001 with two bedrooms, two bathrooms, an open living room and a kitchen.

Today the property also includes air-conditioned and unair-conditioned storage in the garage, a large carport with storage that also serves as a basketball court, an artist's studio above the garage, a fenced-in garden, the two-story boat dock, and a horse stable with tack room, hay storage and stalls.

The main house presents its rustic charm in the stone exterior with cedar tresses. Inside, the large, open living room repeats the stone-and-cedar theme with stone columns and fireplace, and cedar tresses on the vaulted ceiling. A wall of stacked windows draws the eye to the lake and stained concrete floors avoid putting on airs. One side of this great room becomes a dining room with a glass-fronted cabinet. Another area becomes the piano room.

The porch provides high ground for viewing the lake and the hills across the way. A fireplace and plenty of seating make this a relaxing spot. Down the tiered backyard, a hot tub sits on a landing, a fire pit surrounded by chairs rests in another gathering spot, and a pathway leads down to the two-story boat dock.

The living room flows to the open kitchen with a breakfast nook. Again, windows take in the view. The kitchen offers ample space with an island and extensive counters, all topped in ceramic tile. Dish racks instead of cabinets allow for easy, organized access to plates. A pot rack above the island puts a chef's instruments within reach.

At the front of the house two rooms combine through French doors to become Lynda Jones' office and music studio. A sitting room and the guest bedroom built under the tree sit on the other side of the foyer. This bedroom offers a bathroom with a clawfoot tub converted into a shower and a pedestal sink.

The master bedroom presents a rustic retreat with longleaf pine floors and a kiva-style fireplace. Doors lead to the porch.

The master bathroom features ceramic tile counters with marble accents, stone walls with cedar posts and a large walk-in shower. The suite also offers two large walk-in closets.

The guest house is a short walk across a courtyard filled with native plants and some of Lynda Jones' mosaic artwork. Inside, concrete floors flow through the open living spaces. An old seed bin has been converted into the kitchen island. This kitchen offers plenty of counter space and all the necessities.

One of the guest house's bedrooms is on the first floor and offers corner windows and a full bathroom with mosaic stone accents. The other bedroom is upstairs and tucked under the roofline, which creates unusual lines. This bedroom opens to a balcony overlooking the lake. The full bathroom for this room features high triangular windows by the shower and sink.

The rest of the property's buildings offer many opportunities for flexibility. The garage could be more finished out for extra living space or a game room, or it would be perfect for a car tinker, a woodworker or an artist. The family rents out the barn apartment, but it also would work as an in-law suite or as housing for a grown child or a property caretaker.

The Joneses have loved living here. When they found it, they had been looking in the area but had given up finding something. But then they found this one.

"When I first saw the property, I said, 'Wow, look at all the pecan trees and oaks.' My jaw hit my chest," Marq Jones says.

"I knew it was home instantly," Lynda Jones says. "We found our dream home. We've been really happy here."