Active Listing  ·  191 days on market

3404 American Dr #2200

Lago Vista, TX 78645
$240,000
1 Bed 1 Bath 625 sqft $384/sqft Built 1987 0.13 acres Pool Waterfront Island/Lk Travis Condo

Welcome to your lakeside retreat at The Island on Lake Travis in Austin, TX! This beautiful 625-square-foot condo with a 30 ft private boat slip offers an incredible opportunity to enjoy waterfront living with stunning views and outstanding resort-style amenities.

Step onto the private balcony and take in the gorgeous view overlooking the community’s elegant fountain and the main body of Lake Travis. Inside, the unit is bright and inviting with an open layout that maximizes the space. The kitchen features granite countertops along with a refrigerator, freestanding range, and microwave. Durable vinyl and tile flooring run throughout the condo with no carpet, and the full bathroom includes a spacious walk-in shower. The unit also offers generous storage for added convenience.

The Island on Lake Travis sits on 14 beautifully maintained acres and features stunning waterfront views, charming Mediterranean-style architecture, and an impressive list of amenities. Residents and guests can enjoy two outdoor pools with lakeside hot tubs, an indoor pool and spa, fitness center, tennis courts, picnic and grilling areas, boat ramps, and peaceful courtyards that feel like a stroll through Europe. The community also includes a salon and spa with sauna access, an on-site restaurant, private gated security, and assigned covered parking.

Short-term rentals are allowed, making this an excellent investment opportunity, vacation getaway, or full-time residence. For investors looking to expand their portfolio, there is also the rare opportunity to purchase four fully furnished units along with a boat slip.

Ideally located across from Pace Bend Park and just a short drive from Lago Vista Country Club, this condo offers the perfect blend of relaxation, recreation, and investment potential on Lake Travis.

At $384/sqft, this home is priced 49% 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 #2200, Lago Vista, TX 78645

Property Details

Price $240,000
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 625 sqft
Lot Size 0.13 acres (5,575.68 sqft)
Year Built 1987
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Island/Lk Travis Condo
County Travis
Zip Code 78645
$/sqft $384/sqft
Days on Market ,
HOA $366.06/Monthly
Annual Tax Est. $4,727.31
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT222435894
List Date March 16, 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.

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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 · March 16, 2026 $270,000
Current ask $240,000
Reduced $30,000 (-11.1%) 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 #2209
Island On Lake Travis Condomin
$249,000 $296 1 bd / 2 ba 842 sqft , 2026-07-13
3404 American Dr #2212
Island On Lake Travis Condomin
$229,900 $273 1 bd / 2 ba 842 sqft , 2026-04-10
3404 American Dr #2205
Island On Lake Travis Condomin
$229,000 $272 1 bd / 1 ba 842 sqft , 2026-03-16
3404 American Dr #1212
Island On Lake Travis Condomin
$215,000 $505 1 bd / 1 ba 426 sqft , 2026-03-11
3404 American Dr #3101
Island On Lake Travis Condomin
$265,000 $376 1 bd / 1 ba 705 sqft , 2026-07-20

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
$1,152/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
$48,000
20% conventional investment loan

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

Estimated Gross Rent+$1,152
Principal + Interest−$1,310
Property Tax (~2.1% TX avg)−$420
Insurance (~0.5%)−$100
Est. Monthly Cash Flow $-678

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 2, 2026.

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