Active Listing  ·  343 days on market

3404 American Dr #3300

Lago Vista, TX 78645
$154,500
1 Bed 1 Bath 492 sqft $314/sqft Built 1987 0.10 acres 1-Car Garage Pool Waterfront Island On Lake Travis Condominium

FANTASTIC NEW PRICE OF $154,500!!! "INCREDIBLE OPPORTUNITY TO OWN" this Cozy 1-Bedroom, 1 Full Bath Condo with a Scenic Courtyard. All Stainless Steel Appliances replaced in the past 3 years and gently used. A/C replaced in 2023. Beautiful Condo is "Turn-Key" and inclusive of all furnishings and decor! 492 SF - Corsica Floor Plan. Highly Sought-After, The Island on Lake Travis is a Waterfront Gated Complex, situated on 14 acres, boasting of (2) Lakeside Pools, (1) Indoor Pool, Hot Tubs, Spas, Fitness Center, Common Area, Beautifully Landscaped and Maintained Courtyards, Boat Ramp, AND The Island on Lake Travis Grill! Amazing Investment Opportunity as a Primary Residence, Second Home, STR, or Long-Term Rental. Laundromats are located on the first floor in Phases (1) & (3). Your Assigned Parking Spot and Storage Closet are located in the Covered Parking Garage. The convenience of restaurants, schools, medical facilities, grocery store and shopping are within 15 minutes!....Don't forget Flat Creek Winery

At $314/sqft, this home is priced 22% 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 #3300, Lago Vista, TX 78645

Property Details

Price $154,500
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 $314/sqft
Days on Market ,
HOA $280/Monthly
Annual Tax Est. $3,995.3
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT209112469
List Date October 15, 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.

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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 · October 15, 2025 $193,000
Previous ask $174,300
Current ask $154,500
Reduced $38,500 (-19.9%) 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 #3226
Island On Lake Travis Condominium
$185,000 $376 1 bd / 1 ba 492 sqft , 2025-10-27

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
$742/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
$30,900
20% conventional investment loan

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

Estimated Gross Rent+$742
Principal + Interest−$843
Property Tax (~2.1% TX avg)−$270
Insurance (~0.5%)−$64
Est. Monthly Cash Flow $-435

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 8, 2026.

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