Active Listing  ·  72 days on market

3404 American Dr #2209

Lago Vista, TX 78645
$249,000
1 Bed 2 Bath 842 sqft $296/sqft Built 1987 0.17 acres 1-Car Garage Pool Waterfront Island On Lake Travis Condomin

This Villa comes with a 28-foot covered Boat slip. Experience resort-style lakefront living at its finest in Unit 2209 at The Island on Lake Travis. Nestled within one of Lake Travis' most exclusive gated waterfront communities, this beautifully appointed condominium offers the perfect blend of luxury, relaxation, and investment potential. Whether you're searching for a full-time residence, weekend getaway, or income-producing vacation rental, this property delivers the lifestyle buyers dream about. Enjoy an open, inviting floor plan designed for comfortable living and entertaining, along with a private balcony where you can relax and soak in the beauty of Lake Travis and the surrounding Texas Hill Country. Comes with 28' newer boat slip with 6,600lb boat hoist conveys furnished unit recently updated with full paint and flooring (NO CARPET), granite counter tops in kitchen and bath, separate walk in shower and garden tub, and more.

The Island offers an unmatched collection of resort-style amenities, including multiple outdoor pools and hot tubs, a heated indoor pool, fitness center, spa, sauna, tennis and pickleball courts, beautifully landscaped courtyards, waterfront access, marina facilities, boat ramps, fishing docks, picnic and grilling areas, an on-site restaurant, and covered parking. Short-term rentals are permitted, making this an outstanding opportunity for those looking to generate rental income while enjoying their own private lake retreat. Boater's paradise on quieter end of Lake Travis perfect for water skiing!

Located just minutes from golf courses, wineries, parks, and everything Lago Vista has to offer, Unit 2209 provides the perfect balance of peaceful lake living and convenient access to area attractions. Wake up to spectacular sunrises, spend your days boating or lounging by the pool, and end each evening with breathtaking Texas sunsets. This is more than a condominium—it's a lifestyle.

At $296/sqft, this home is priced 15% 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 #2209, Lago Vista, TX 78645

Property Details

Price $249,000
Status Active Listing
Beds 1
Full Baths 1
Half Baths 1
Living Area 842 sqft
Lot Size 0.17 acres (7,487.96 sqft)
Year Built 1987
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision Island On Lake Travis Condomin
County Travis
Zip Code 78645
$/sqft $296/sqft
Days on Market ,
HOA $585.87/Monthly
Annual Tax Est. $4,889.95
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT239719119
List Date July 13, 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 →

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 #2200
Island/Lk Travis Condo
$240,000 $384 1 bd / 1 ba 625 sqft , 2026-03-16
3404 American Dr #3101
Island On Lake Travis Condomin
$265,000 $376 1 bd / 1 ba 705 sqft , 2026-07-20
3404 American Dr #3322
Island On Lake Travis Condomin
$265,100 $265 2 bd / 1 ba 1,001 sqft , 2026-08-18
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

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
$1,195/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
$49,800
20% conventional investment loan

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

Estimated Gross Rent+$1,195
Principal + Interest−$1,359
Property Tax (~2.1% TX avg)−$436
Insurance (~0.5%)−$104
Est. Monthly Cash Flow $-704

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

More Luxury Homes in Lago Vista

Loading…
View All Luxury Homes →
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 10, 2026.

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