Active Listing  ·  201 days on market

3404 American Dr #3311

Lago Vista, TX 78645
$349,000
2 Bed 2 Bath 1,001 sqft $349/sqft Built 1987 0.20 acres 1-Car Garage Pool Waterfront Island On Lake Travis Condomin

This Villa comes with a 28 foot Covered boat slip Welcome to luxury lakefront living at The Island on Lake Travis! This beautifully updated, fully furnished 2-bedroom, 2-bath condominium is truly move-in ready—just bring your clothes and start enjoying the resort lifestyle.

One of the community's most desirable and unique floor plans, Unit 3311 features a rare two-story layout with a private upstairs suite complete with a spacious bedroom and full bath, offering added privacy for guests or family. The thoughtfully updated interior combines comfort and style, making it ideal as a full-time residence, weekend getaway, or vacation investment.

A 28-foot covered boat slip is included with the sale, providing easy access to Lake Travis for boating, fishing, paddleboarding, or simply enjoying life on the water.

The Island offers an unmatched collection of resort-style amenities set on a private 13-acre waterfront peninsula. Residents enjoy three swimming pools, including a heated indoor lap pool, hot tubs, a dry sauna, a fully equipped fitness center, a day spa, lighted tennis and pickleball courts, beautifully landscaped grounds, waterfront access, marina facilities, fishing areas, picnic and grilling spaces, and an on-site restaurant.

Whether you're sipping your morning coffee overlooking the lake, spending the afternoon on the water, or relaxing by the pool after a day of adventure, Unit 3311 offers the perfect blend of comfort, convenience, and luxury. Opportunities to own one of these rare two-story units with an included covered boat slip are few and far between. Come experience waterfront living at its very best at The Island on Lake Travis.

At $349/sqft, this home is priced 36% 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 #3311, Lago Vista, TX 78645

Property Details

Price $349,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,001 sqft
Lot Size 0.20 acres (8,886.24 sqft)
Year Built 1987
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision Island On Lake Travis Condomin
County Travis
Zip Code 78645
$/sqft $349/sqft
Days on Market ,
HOA $586.4/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT217068296
List Date March 6, 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 · March 6, 2026 $375,000
Previous ask $374,000
Current ask $349,000
Reduced $26,000 (-6.9%) 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 #3202
Island On Lake Travis Condomin
$375,000 $316 2 bd / 2 ba 1,188 sqft , 2026-07-02
3404 American Dr #3224
Island On Lake Travis Condomin
$315,000 $265 2 bd / 2 ba 1,188 sqft , 2026-03-22
3404 American Dr #3308
Island On Lake Travis Condomin
$315,000 $265 2 bd / 2 ba 1,188 sqft , 2026-09-12
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

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
$1,675/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
$69,800
20% conventional investment loan

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

Estimated Gross Rent+$1,675
Principal + Interest−$1,905
Property Tax (~2.1% TX avg)−$611
Insurance (~0.5%)−$145
Est. Monthly Cash Flow $-986

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 August 3, 2026.

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