About This Home

Wonderful waterfront condo at Portofino within Horseshoe Bay community. Two bedroom, 2.5 bath, 3 living areas. Two of the living areas are and can also be used as bedrooms. Large balcony overlooking Lake LBJ with dual boat slips with lifts. Shared use of swimming dock and courtyard. Covered parking garage under complex. Walking distance to Horseshoe Bay Resort amenities

At $622/sqft, this home is priced 29% above the Horseshoe Bay active market average of $481/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

103 Island Dr #8, Horseshoe Bay, TX 78657

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Property Details

Price $1,350,000

Status Active Listing

Beds 3

Full Baths 2

Half Baths 1

Living Area 2,170 sqft

Lot Size 0.03 acres (1,415.7 sqft)

Year Built 1975

Garage ,

Stories ,

Type Residential · Condominium

Subdivision Portofina

County Llano

Zip Code 78657

$/sqft $622/sqft

Days on Market ,

HOA $5,425/Annually

Annual Tax Est. $7,890

Pool Yes

Waterfront Yes

New Construction ,

MLS # ACT223611725

List Date March 24, 2026

Elementary School Llano

Middle School Llano

High School Llano

School District ,

Have Questions About This Property?

Luke Allen (TREC #788149) has deep knowledge of Horseshoe Bay and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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Similar Homes on the Market in Horseshoe Bay

Comparable Listings Right Now

Homes currently for sale in Horseshoe Bay with similar bedroom count, size, and price range, giving you real-time context for how this property's asking price compares to the active market.

AddressList Price$/sqftBeds/BathsSqftDOMListed

101 Third Sid None W
Horseshoe Bay Proper $1,300,000 $532 4 bd / 4 ba 2,442 sqft , 2026-07-10

614 Pecan Creek Dr
Oak Ridge Estates $1,400,000 $565 4 bd / 3 ba 2,480 sqft , 2026-05-08

1001 The Cape Rd #33
The Waters At Horseshoe Bay Re $1,299,950 $893 3 bd / 2 ba 1,455 sqft , 2026-02-23

202 Azalea Loop
The Reserve At Summit Rock $1,297,000 $487 3 bd / 3 ba 2,664 sqft , 2026-03-08

3504 Bay West Blvd
Applehead West $1,234,000 $437 3 bd / 4 ba 2,822 sqft , 2026-03-12

Source: ACTRIS MLS, live listings. Similar by ±1 bed, ±35% price, ±35% sqft. Contact Luke for a formal comparative market analysis.

Investment Analysis

Rental Income Potential

The numbers below use conservative Austin-market assumptions. They are estimates, not a guarantee. Actual rents vary by condition, timing, and management. Read our full Austin rental property guide →

Est. Monthly Rent

$6,480/mo

0.48% rule · conservative Austin est.

Gross Yield

5.76%

Annual rent ÷ purchase price

Cap Rate (est.)

3.46%

NOI after 40% vacancy + expenses

Down Payment

$270,000

20% conventional investment loan

Monthly Cash Flow Breakdown (20% down · 7.25% rate)

Estimated Gross Rent+$6,480

Principal + Interest−$7,368

Property Tax (~2.1% TX avg)−$2,363

Insurance (~0.5%)−$563

Est. Monthly Cash Flow $-3,814

At current rates and prices, many Austin luxury properties run neutral or slightly negative on pure cash flow, appreciation and equity paydown are the primary return drivers. BRRRR and off-market acquisitions can improve day-one cash flow. Learn about the BRRRR method in Austin →

Commute & Employment

Major Employers Near Horseshoe Bay, TX

Horseshoe Bay sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Tesla Gigafactory 15-25 min E

Apple Campus (Domain) 20-30 min N

Google / Meta / Indeed 10-15 min downtown

Dell Medical School / UT Austin 10-20 min

Samsung Austin Semiconductor 25 min N

103 Island Dr #8

Location

Property Details

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Horseshoe Bay, TX

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