Active Listing  ·  196 days on market

3404 American Dr #3314

Lago Vista, TX 78645
$180,000
1 Bed 1 Bath 426 sqft $423/sqft Built 1987 0.09 acres 1-Car Garage Pool Waterfront Island On Lake Travis Condomin

Incredible investment opportunity awaits! The Island on Lake Travis condo community is located on 14 acres and is truly impeccable from it’s waterfront views of Lake Travis, alluring Mediterranean architecture, and all of the resort-style amenities it has to offer including 2 outdoor pools with hot tubs situated right against the lake, 1 indoor pool and hot tub, a fitness center, a salon/spa with sauna access, a restaurant, picnic/grilling areas, docks/boat ramps, tennis courts, and courtyards that will make you feel as though you’re strolling through Europe. This particular unit offers an open layout, granite countertops, vinyl/tile flooring (no carpet), a full bath with a large walk-in shower, and plenty of storage space. If you’re looking to make an even stronger investment, you can reap the benefits of purchasing 4 units, fully furnished, plus a boat slip to really build out your portfolio. Short-term rentals are allowed and you and your guests can enjoy the security of private, gated access and assigned covered parking located under the building. This premier location is just across from Pace Bend Park and a quick drive away from the Lago Vista Country Club. This property is truly a unique Austin gem that you’re sure to fall in love with upon arrival!

At $423/sqft, this home is priced 65% 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 #3314, Lago Vista, TX 78645

Property Details

Price $180,000
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 426 sqft
Lot Size 0.09 acres (3,789.72 sqft)
Year Built 1987
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision Island On Lake Travis Condomin
County Travis
Zip Code 78645
$/sqft $423/sqft
Days on Market ,
HOA $249.58/Monthly
Annual Tax Est. $3,000.25
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT222039385
List Date March 11, 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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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 #3226
Island On Lake Travis Condominium
$185,000 $376 1 bd / 1 ba 492 sqft , 2025-10-27
3404 American Dr #3300
Island On Lake Travis Condominium
$154,500 $314 1 bd / 1 ba 492 sqft , 2025-10-15
3404 American Dr #1212
Island On Lake Travis Condomin
$215,000 $505 1 bd / 1 ba 426 sqft , 2026-03-11

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
$864/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
$36,000
20% conventional investment loan

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

Estimated Gross Rent+$864
Principal + Interest−$982
Property Tax (~2.1% TX avg)−$315
Insurance (~0.5%)−$75
Est. Monthly Cash Flow $-508

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 28, 2026.

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