Private 1.2- Acre Wooded Retreat Near Grapevine Lake- Carroll ISD This Peninsula Drive property offers a rare opportunity for a lake-oriented lifestyle in Carroll ISD. From the backyard, a quiet path leads through Corps of Engineers land toward the water’s edge, creating a setting that feels removed from the city while remaining minutes from Southlake Town Square and DFW Airport. Surrounded by mature trees and elevated above Labrador Bay, the property provides a strong sense of privacy with no rear development. The environment feels natural, quiet, and enduring—distinct from traditional suburban neighborhoods. Inside, the home spans over 4,100 square feet with five bedrooms and multiple living areas. Large windows bring in natural light and connect the interior to the surrounding landscape, while the layout flows naturally toward outdoor living spaces. Outside, multiple decks, shaded gathering areas, and open spaces create a flexible environment for entertaining, relaxing, and everyday living. A separate powered structure offers additional space for a private office, studio, or creative use. At the base of the property lies Labrador Bay, where seasonal water levels can enhance the sense of proximity to the lake. The combination of elevation, privacy, and location offers a unique setting within Carroll ISD. Opportunities for this level of land, privacy, and proximity to Grapevine Lake are limited. More than a home, this property offers a distinct way to live.