The Trumpy Estate in Annapolis, Maryland, embodies traditional understated elegance, maritime history and spectacular views of the Severn River. This and more influenced Nels and Kristen Olson to buy the property five years ago.

“Everything centers around the water,” says Nels Olson, an executive with a senior-level talent firm. “In this neighborhood, folks don’t ask what you do. They ask, ‘sail or power?’ ” He ranks himself a powerboater.

Now the Olsons have found a new home more suited to their young family, and they have the estate on the market for $4.495 million. Designed and built by John Trumpy Sr. of the renowned yacht builder John Trumpy and Sons, the 1.1-acre landscaped property includes a three-story, five-bedroom, 4-1/2-bath home, 85 feet of bulkheaded deepwater frontage, a dock with two boat lifts and a guest slip, a two-car garage with guest quarters, two outbuildings and a swimming pool.

A formal living room and dining room with a dry bar flank the central hall, which extends to the rear of the house, where multiple large windows in the four common rooms “capture a sweeping view to the Severn,” Olson says.

Crown moldings, white woodwork and hardwood floors throughout create a unified traditional atmosphere. The living room features a wood-burning fireplace. The white-paneled family room has a more casual feel. Olson particularly enjoys the kitchen fireplace, where he frequently cooks.

“A former owner, who was a chef, designed the kitchen and imported the fireplace from France,” Olson says. “We upgraded the appliances,” including a gas six-burner Wolf range.

A granite-topped central island that matches the counters and cabinetry separates the kitchen from an informal waterfront dining area. French doors lead out to the rear lawn. Three carpeted bedrooms, each with a private bath, occupy the upper level.

The walk-out lower level has a tile-floored media/sitting room with custom built-in cabinetry and woodwork. French doors open to the terrace. Custom shutter doors can close off the adjoining carpeted bedroom. A full bath, sauna, wine cellar, workroom, utility room and storage complete the level.

Attached to the two-car garage is a covered outdoor poolside entertaining center with a dining area, full bar and kitchen where Olson often grills. The full bath is accessible from the brick patio and wood deck around the pool. Upstairs, guest quarters feature a cathedral ceiling with exposed beams, two queen-size sleeping lofts, built-in cabinetry and a balcony overlooking the pool.

The property slopes down to the water, encompassing an English garden and “lots of different private sitting areas,” Olson says. They use the outbuilding near the water and the 75-year-old garden shed for storage.

“There’s nothing like sitting on the pier, watching the boats go by,” Olson says. Their pier, which has 8-foot depths at mean low water, includes a 12,500-pound lift for their 25-foot Mako, a 10,000-pound lift, a guest slip, new 100-amp service and new pilings.

The house has gas-fired forced hot air heat, central air conditioning, and public sewer and water. Annual taxes are about $36,300.

Elizabeth Dooner, (410) 725-8973, of Coldwell Banker Residential Brokerage, Annapolis Church Circle, Annapolis, (410) 263-8686, lists the property. coldwellbankerhomes.com

This article originally appeared in the January 2016 issue.