Active Listing  ·  11 days on market

3404 American Dr #3308

Lago Vista, TX 78645
$315,000
2 Bed 2 Bath 1,188 sqft $265/sqft Built 1987 0.24 acres 2-Car Garage Pool Island On Lake Travis Condomin

Nestled in the exclusive gated community at the

Island at Lake Travis in Lago Vista, this inviting 2 bedroom, 2 bath, condo can be your tranquil primary residence, your

personal vacation getaway, or as short or long term rental. Open floor plan in kitchen, dining, and family room with

cozy fireplace. Kitchen has stainless steel appliances, seated countertop area, and coffee bar. The primary bedroom

has room for a king sized bed and access to outside patio. Dual vanity sinks, garden bathtub and separate walk-in

shower and walk-in closet. Second bedroom has space for two standard beds or king. Full bathroom adjacent. Lounge

or dine outside on your covered balcony or venture outside and enjoy the many amenities of this 14 acre island

including indoor pool, 2 outdoor pools, pickle ball courts, tennis court, sauna, fitness center, picnic area, spa,

restaurant and more. This unit includes 2 reserved indoor parking spaces and a garage storage closet to store your

favorite sports gear to enjoy Lake Travis. This unit has been a full time STR (short term rental). Ask listing agent for details. All furniture conveys.

At $265/sqft, this home is priced 3% 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 #3308, Lago Vista, TX 78645

Property Details

Price $315,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,188 sqft
Lot Size 0.24 acres (10,585.08 sqft)
Year Built 1987
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision Island On Lake Travis Condomin
County Travis
Zip Code 78645
$/sqft $265/sqft
Days on Market ,
HOA $695.5/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT246639080
List Date September 12, 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 #3224
Island On Lake Travis Condomin
$315,000 $265 2 bd / 2 ba 1,188 sqft , 2026-03-22
21600 Pierce cv None #101
Highland Lake Estates Sec 21
$310,000 $258 3 bd / 3 ba 1,200 sqft , 2026-06-18
3404 American Dr #1308
Island On Lake Travis Condo Amd
$299,900 $247 2 bd / 2 ba 1,215 sqft , 2026-04-08
3404 American Dr #3208
Island On Lake Travis Condo
$299,000 $252 2 bd / 2 ba 1,188 sqft , 2025-04-25
3404 American Dr #3311
Island On Lake Travis Condomin
$349,000 $349 2 bd / 2 ba 1,001 sqft , 2026-03-06

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
$1,512/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
$63,000
20% conventional investment loan

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

Estimated Gross Rent+$1,512
Principal + Interest−$1,719
Property Tax (~2.1% TX avg)−$551
Insurance (~0.5%)−$131
Est. Monthly Cash Flow $-889

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 13, 2026.

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