Active Listing  ·  166 days on market

3404 American Dr #2212

Lago Vista, TX 78645
$229,900
1 Bed 2 Bath 842 sqft $273/sqft Built 1987 0.17 acres 1-Car Garage Pool Island On Lake Travis Condomin

Welcome to your perfect lake getaway and income-producing property in the heart of Lago Vista! This beautifully maintained condo at 3404 American Way #2212 offers the ideal blend of comfort, convenience, and investment potential. Featuring 2 full bathrooms, this spacious unit is designed for both relaxation and functionality—perfect for hosting guests or enjoying your own private retreat. The condo comes fully furnished, making it truly turnkey and ready for immediate use or rental from day one. What truly sets this property apart is its strong short-term rental history, offering an excellent opportunity for investors seeking consistent income in a highly desirable lake-area destination. Whether you're looking to expand your portfolio or own a vacation home that pays for itself, this property checks all the boxes. Located just minutes from Lake Travis, you'll enjoy easy access to boating, dining, and outdoor recreation, all while being tucked away in a peaceful community setting. Don’t miss your chance to own a fully furnished, income-generating property in one of Lago Vista’s most sought-after areas!

At $273/sqft, this home is priced 6% 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 #2212, Lago Vista, TX 78645

Property Details

Price $229,900
Status Active Listing
Beds 1
Full Baths 2
Half Baths ,
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 $273/sqft
Days on Market ,
HOA $499/Monthly
Annual Tax Est. $5,597.82
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT225784475
List Date April 10, 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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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 #2205
Island On Lake Travis Condomin
$229,000 $272 1 bd / 1 ba 842 sqft , 2026-03-16
3404 American Dr #2200
Island/Lk Travis Condo
$240,000 $384 1 bd / 1 ba 625 sqft , 2026-03-16
3404 American Dr #2209
Island On Lake Travis Condomin
$249,000 $296 1 bd / 2 ba 842 sqft , 2026-07-13
3404 American Dr #1225
Island on Lake Travis Condominium
$199,000 $282 1 bd / 1 ba 705 sqft , 2025-12-02
3404 American Dr #3111
Island On Lake Travis Condomin
$195,000 $250 1 bd / 1 ba 779 sqft , 2026-04-21

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
$1,104/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
$45,980
20% conventional investment loan

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

Estimated Gross Rent+$1,104
Principal + Interest−$1,255
Property Tax (~2.1% TX avg)−$402
Insurance (~0.5%)−$96
Est. Monthly Cash Flow $-649

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 April 14, 2026.

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