Active Listing  ·  331 days on market

3404 American Dr #3226

Lago Vista, TX 78645
$185,000
1 Bed 1 Bath 492 sqft $376/sqft Built 1987 0.10 acres 1-Car Garage Pool Waterfront Island On Lake Travis Condominium

Wonderful one bedroom one bath condo (Corsica Floor Plan) At the Island On Lake Travis. Conveniently located in BLDG 3 with bright windows opening to the charming courtyard and all amenities nearby. Nicely updated unit with travertine marble floors, large windows, open kitchen w/ granite counters & breakfast bar. The large enclosed bedroom offers a good sized walk-in closet & bright windows. The bathroom has been updated with a nice sized tiled walk in shower with multiple head shower system. The laundromat is conveniently located on the first floor of BLDG 3. This 14 acre gated community offers 2 full sized exterior lakeside pools & sun decks, hot tubs, outdoor sitting areas, tennis & pickle ball courts, EV chargers, boat ramp, available boat docks for rent, several beautifully landscaped courtyards & pet potty areas. There are also amazing indoor amenities like the huge fitness center (gym, his & her bathrooms, sitting areas, locker rooms, saunas), large indoor spa & pool and even a small shop for lakeside necessities. There is also the onsite restaurant Island Bar and Grill and the onsite spa Water Vida Spa. The condo is currently licensed as a short term rental and would make a great investment opportunity as a primary residence, nice lakeside getaway or short/long term rental as STR's are allowed. You will easily find the parking spot and storage closet as they are in the covered parking area under BLDG 3 and the spots have a reserved for unit 3226 sign in front of them. All of the Lago Vista amenities, shopping, medical etc are a short distance away with everything easily accessible. Please reach out with any questions.

At $376/sqft, this home is priced 46% 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 #3226, Lago Vista, TX 78645

Property Details

Price $185,000
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 492 sqft
Lot Size 0.10 acres (4,377.78 sqft)
Year Built 1987
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision Island On Lake Travis Condominium
County Travis
Zip Code 78645
$/sqft $376/sqft
Days on Market ,
HOA $280/Monthly
Annual Tax Est. $3,945.4
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT208837652
List Date October 27, 2025
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 · October 27, 2025 $195,000
Current ask $185,000
Reduced $10,000 (-5.1%) 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 #3314
Island On Lake Travis Condomin
$180,000 $423 1 bd / 1 ba 426 sqft , 2026-03-11
3404 American Dr #1212
Island On Lake Travis Condomin
$215,000 $505 1 bd / 1 ba 426 sqft , 2026-03-11
3404 American Dr #3300
Island On Lake Travis Condominium
$154,500 $314 1 bd / 1 ba 492 sqft , 2025-10-15
3404 American Dr #2200
Island/Lk Travis Condo
$240,000 $384 1 bd / 1 ba 625 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
$888/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
$37,000
20% conventional investment loan

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

Estimated Gross Rent+$888
Principal + Interest−$1,010
Property Tax (~2.1% TX avg)−$324
Insurance (~0.5%)−$77
Est. Monthly Cash Flow $-523

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 September 4, 2026.

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