Active Listing  ·  168 days on market

3404 American Dr #1308

Lago Vista, TX 78645
$299,900
2 Bed 2 Bath 1,215 sqft $247/sqft Built 1987 0.25 acres 2-Car Garage Pool Waterfront Island On Lake Travis Condo Amd

Price Reduced $80,000 — Elevated Lake Travis Living with Full-Lake Views

Experience one of the most desirable third-floor residences on The Island at Lake Travis. This updated, fully turnkey 2-bedroom, 2-bath condo delivers expansive northeast views of the lake, marina, and Hill Country — now with Lake Travis essentially full, creating a true waterfront backdrop perfect for watching boats and enjoying the sparkling water right from your home.

At 1,215 square feet, this is the largest two-bedroom floor plan in the community. Soaring vaulted ceilings, wood and tile flooring, granite countertops, a fireplace, ceiling fans, and an in-unit washer/dryer create a bright, open, and comfortable living space. The home is fully furnished, comes with a home warranty, and features a brand-new AC system installed in August 2026.

Resort amenities just steps away

Live the gated island lifestyle with a private marina and boat launch, on-site restaurant, fitness facility, spa and sauna, indoor pool, two outdoor pools with hot tubs, plus tennis and pickleball courts. Two covered garage spaces are included.

Ready for short-term rental, primary residence, or second home — this turnkey condo is set for immediate enjoyment with the lake at its best

At $247/sqft, this home is 4% below the Lago Vista active market average of $257/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

3404 American Dr #1308, Lago Vista, TX 78645

Property Details

Price $299,900
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,215 sqft
Lot Size 0.25 acres (10,802.88 sqft)
Year Built 1987
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision Island On Lake Travis Condo Amd
County Travis
Zip Code 78645
$/sqft $247/sqft
Days on Market ,
HOA $712/Monthly
Annual Tax Est. $4,019.36
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT225512504
List Date April 8, 2026
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.

Schedule a Call →

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 · April 8, 2026 $379,000
Previous ask $319,000
Current ask $299,900
Reduced $79,100 (-20.9%) 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
21711 Crystal Way
Highland Lake Estates Sec 34
$299,900 $193 3 bd / 2 ba 1,554 sqft , 2026-08-13
21709 Crystal Way
Highland Lake Estates Sec 34
$300,000 $193 3 bd / 2 ba 1,554 sqft , 2026-07-03
3404 American Dr #3208
Island On Lake Travis Condo
$299,000 $252 2 bd / 2 ba 1,188 sqft , 2025-04-25
21600 Pierce cv None #101
Highland Lake Estates Sec 21
$310,000 $258 3 bd / 3 ba 1,200 sqft , 2026-06-18
3404 American Dr #3224
Island On Lake Travis Condomin
$315,000 $265 2 bd / 2 ba 1,188 sqft , 2026-03-22

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
$1,440/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
$59,980
20% conventional investment loan

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

Estimated Gross Rent+$1,440
Principal + Interest−$1,637
Property Tax (~2.1% TX avg)−$525
Insurance (~0.5%)−$125
Est. Monthly Cash Flow $-847

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 August 6, 2026.

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