Active Listing  ·  295 days on market

3404 American Dr #1225

Lago Vista, TX 78645
$199,000
1 Bed 1 Bath 705 sqft $282/sqft Built 1987 0.14 acres 1-Car Garage Pool Waterfront Island on Lake Travis Condominium

$40,000 Price Reduction! Now offered at $199,000! "LVP FLOORING INSTALLED THROUGHOUT, offering a modern, low-maintenance finish"! Incredible opportunity to own a Second Floor Villa in one of the best locations at The Island on Lake Travis! Charming, Cozy, and Fully Furnished, this condo boasts of breathtaking and sweeping views overlooking the North end of Lake Travis and the Texas Hill Country. Spacious, 705 sf, Open, Capri Floor Plan, 1 Bedroom with generous Closet Space; 1 Full Bath appointed with an Oversized Shower; Breakfast Bar; Dining Area; Covered Patio; 2 Access Doors to the Patio; Laundry Closet with Washer & Dryer hook-ups. From the patio, capture each Morning with a cup of coffee and each Evening with amazing Sunsets! Awesome Opportunity to Own, Occupy or Rent....Long and Short-term rentals are allowed at The Island. This unit is currently enrolled in an STR program. The Island on Lake Travis sits on 14 acres, features beautifully landscaped Courtyards, 2 Outdoor Pools, Spa, Saunas, Fitness Center, Outdoor Common Barbecue area, Tennis Courts, Basketball Court, Pickleball Court, Marina, and Boat Ramp. Located in the Covered Garage is your Assigned/Reserved Parking Spot and Storage Closet. Appreciate a fabulous Dining Experience at The Island Bar & Grill, which also provides regular entertainment, including bingo, karaoke, and poker nights, making it a lively destination for both locals and visitors ...Enjoy the convenience of proximity to restaurants, schools, medical facilities, grocery stores, and shopping....AND, Flat Creek Winery! Live Like You're on Vacation! (Certain Staging Items are excluded from the sale). (Cash only)

At $282/sqft, this home is priced 10% above the Lago Vista active market average of $257/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

3404 American Dr #1225, Lago Vista, TX 78645

Property Details

Price $199,000
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 705 sqft
Lot Size 0.14 acres (6,098.4 sqft)
Year Built 1987
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision Island on Lake Travis Condominium
County Travis
Zip Code 78645
$/sqft $282/sqft
Days on Market ,
HOA $413/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT212993708
List Date December 2, 2025
Elementary School Lago Vista
Middle School Lago Vista
High School Lago Vista
School District ,

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

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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · December 2, 2025 $249,900
Previous ask $239,000
Current ask $199,000
Reduced $50,900 (-20.4%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

Similar Homes on the Market in Lago Vista

Comparable Listings Right Now

Homes currently for sale in Lago Vista 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
3404 American Dr #3111
Island On Lake Travis Condomin
$195,000 $250 1 bd / 1 ba 779 sqft , 2026-04-21
3404 American Dr #3226
Island On Lake Travis Condominium
$185,000 $376 1 bd / 1 ba 492 sqft , 2025-10-27
3404 American Dr #2205
Island On Lake Travis Condomin
$229,000 $272 1 bd / 1 ba 842 sqft , 2026-03-16
3404 American Dr #2212
Island On Lake Travis Condomin
$229,900 $273 1 bd / 2 ba 842 sqft , 2026-04-10
3404 American Dr #2200
Island/Lk Travis Condo
$240,000 $384 1 bd / 1 ba 625 sqft , 2026-03-16

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
$955/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
$39,800
20% conventional investment loan

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

Estimated Gross Rent+$955
Principal + Interest−$1,086
Property Tax (~2.1% TX avg)−$348
Insurance (~0.5%)−$83
Est. Monthly Cash Flow $-562

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 Lago Vista, TX

Lago Vista 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

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About the Author
Luke Allen, Austin TX Realtor, TREC #788149
Luke Allen
Licensed Austin TX Realtor · TREC #788149 · Full-time since 2019
★★★★★ 5.0 on Google · 30 Reviews

Luke Allen is a full-time Austin TX Realtor with the Austin Marketing + Development Group brokerage. He works with buyers, sellers, and investors across every Austin ISD and the surrounding neighborhoods, from Downtown and East Austin to Round Rock, Cedar Park, and the Hill Country. Every page on this site is written and maintained by Luke. This page was last updated on September 8, 2026.

📞 (254) 718-2567 [email protected] More about Luke →