Active Listing  ·  36 days on market

3404 American Dr #3322

Lago Vista, TX 78645
$265,100
2 Bed 1 Bath 1,001 sqft $265/sqft Built 1987 0.20 acres 1-Car Garage Pool Waterfront Island On Lake Travis Condomin

The most beautiful view from a condo on Lake Travis" in the Texas hillcountry with an easy commute to Austin. This is an STR owner's dream! Spectacular wraparound balcony! Gorgeous open floor plan from the moment you walk through the front door. Recently updated flooring, kitchen appliances and HVAC unit, woodburning fireplace and in-unit washer/dryer. This unique floor plan is one of only four like it in the complex. Soaring ceiling to the loft upstairs which has a large walk-in closet. The property is gated with onsite security, and boasts two outdoor pools and hot tubs, a large fitness center with lake views, and onsite full service spa and water recreational equipment rental facility, his/her separate locker rooms with saunas, tennis/pickelball courts, and multiple shaded barbeque areas overlooking the lake. Owners also have the option of buying or renting a covered, floating boat slip. Condo is a corner unit on the top floor. Certain furnishings may convey. It's a must-see for this remarkable price!

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 #3322, Lago Vista, TX 78645

Property Details

Price $265,100
Status Active Listing
Beds 2
Full Baths 1
Half Baths ,
Living Area 1,001 sqft
Lot Size 0.20 acres (8,903.66 sqft)
Year Built 1987
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision Island On Lake Travis Condomin
County Travis
Zip Code 78645
$/sqft $265/sqft
Days on Market ,
HOA $589/Monthly
Annual Tax Est. $3,037
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT243831453
List Date August 18, 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 #3101
Island On Lake Travis Condomin
$265,000 $376 1 bd / 1 ba 705 sqft , 2026-07-20
28 Oaks Pl
Oaks At Highland Lake Estates
$255,000 $191 2 bd / 2 ba 1,334 sqft , 2026-05-12
3404 American Dr #3118
Island On Lake Travis Condomin
$249,900 $208 2 bd / 2 ba 1,203 sqft , 2026-03-20
3404 American Dr #2209
Island On Lake Travis Condomin
$249,000 $296 1 bd / 2 ba 842 sqft , 2026-07-13
3404 American Dr #3203
The Island
$239,900 $203 2 bd / 2 ba 1,182 sqft , 2026-08-13

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
$1,272/mo
0.48% rule · conservative Austin est.
Gross Yield
5.76%
Annual rent ÷ purchase price
Cap Rate (est.)
3.45%
NOI after 40% vacancy + expenses
Down Payment
$53,020
20% conventional investment loan

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

Estimated Gross Rent+$1,272
Principal + Interest−$1,447
Property Tax (~2.1% TX avg)−$464
Insurance (~0.5%)−$110
Est. Monthly Cash Flow $-749

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 19, 2026.

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