Active Listing  ·  41 days on market

3404 American Dr #3203

Lago Vista, TX 78645
$239,900
2 Bed 2 Bath 1,182 sqft $203/sqft Built 1987 0.02 acres 2-Car Garage Pool Waterfront The Island

Experience the ultimate Lake Travis lifestyle in this stunning luxury villa at The Island on Lake Travis. Offering breathtaking panoramic views of Lake Travis and the Texas Hill Country, this beautifully appointed property combines spacious living, exceptional comfort, and unforgettable scenery in one of Lago Vista’s premier waterfront communities. The villa features generous living spaces designed for both relaxation and entertaining, along with a large covered patio where you can enjoy spectacular Hill Country sunsets and peaceful lake views. With ample room to gather with family and friends, this property is the perfect setting for creating lasting memories.For added convenience, two reserved parking spaces and a private storage area convey with the property. Investors and owners seeking rental income will appreciate that the villa is currently enrolled in an active short-term rental program, offering an excellent opportunity to enjoy the property while generating income.

The Island on Lake Travis is an exclusive 14-acre island resort community offering a truly resort-style waterfront experience. Residents and guests enjoy an impressive collection of amenities, including two outdoor pools, two outdoor hot tubs, an indoor pool and hot tub, onsite restaurant, fitness center, pickleball and tennis courts, day spa, sauna, and marina. Whether you are looking for a full-time residence, a weekend getaway, or an investment opportunity, The Island offers the perfect blend of tranquility, recreation, and luxury. Enjoy beautiful sunsets over Lake Travis, easy access to Austin, and nearby Hill Country wineries, shopping, dining, and scenic destinations.

At $203/sqft, this home is 21% 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 #3203, Lago Vista, TX 78645

Property Details

Price $239,900
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,182 sqft
Lot Size 0.02 acres (871.2 sqft)
Year Built 1987
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision The Island
County Travis
Zip Code 78645
$/sqft $203/sqft
Days on Market ,
HOA $751.68/Monthly
Annual Tax Est. $7,271.32
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT243256110
List Date August 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.

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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 · August 13, 2026 $269,000
Previous ask $249,900
Current ask $239,900
Reduced $29,100 (-10.8%) 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 #2106
Island On Lake Travis Condomin
$235,000 $199 2 bd / 2 ba 1,182 sqft , 2026-03-23
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 #3118
Island On Lake Travis Condomin
$249,900 $208 2 bd / 2 ba 1,203 sqft , 2026-03-20
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
$1,152/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
$47,980
20% conventional investment loan

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

Estimated Gross Rent+$1,152
Principal + Interest−$1,309
Property Tax (~2.1% TX avg)−$420
Insurance (~0.5%)−$100
Est. Monthly Cash Flow $-677

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 14, 2026.

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