Active Listing  ·  245 days on market

3506 Parliament Cv

Lago Vista, TX 78645
$860,000
3 Bed 3 Bath 2,706 sqft $318/sqft Built 2007 0.85 acres 2-Car Garage Pool Waterfront Highland Lake Estates Sec 23

**LAKE FRONT**BONUS ROOM**AIRBNB POTENTIAL**Perched above the water, this quintessential multilevel lake house is designed to capture breathtaking views and effortless indoor–outdoor living. Multiple expansive decks on every level provide the perfect backdrop for morning coffee, sunset gatherings, and entertaining with the lake as your constant view.

Inside, Brazilian cherrywood floors paired with soaring 10-foot ceilings create a warm yet sophisticated ambiance. The open-concept floor plan flows beautifully, highlighted by a well-appointed kitchen featuring granite countertops,custom cabinets, a large center island, and stainless steel appliances, making it ideal for hosting while staying connected to the main living areas.

The home offers three spacious bedrooms and 2.5 baths, along with a versatile game room perfect for recreation and relaxation. On the lower level, a bonus room provides exceptional flexibility and can easily serve as a workshop, gym, media room, or private office, adapting to your lifestyle needs. 962 sq ft per TCAD. Sq ft not included in 2706 sq ft of living space.

Adding to the home’s lake-focused design, a convenient carport provides direct access leading down to the lake, making days on the water effortless and inviting.

Blending timeless craftsmanship with modern comfort, this exceptional lake house delivers a true retreat—where every level offers a new perspective and every space is designed to enjoy lake living at its best.

Amenities include: Waterfront parks, Campground, Fitness center,Fishing well,Swimming pool,Marina,Tennis courts,Basketball court, Pickleball court,Disc golf,Sports fields,Hiking paths, Multiple Pavilions, Clubhouse. Call for Complete list.

Property currently available for Short term rental. Buyer to reverify with POA and City of Lago Vista prior to purchase.

At $318/sqft, this home is priced 24% 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

3506 Parliament Cv, Lago Vista, TX 78645

Property Details

Price $860,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 2,706 sqft
Lot Size 0.85 acres (37,243.8 sqft)
Year Built 2007
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Highland Lake Estates Sec 23
County Travis
Zip Code 78645
$/sqft $318/sqft
Days on Market ,
HOA $240/Annually
Annual Tax Est. $15,699.45
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT216935328
List Date January 21, 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
21508 Lake Park Dr
Country Club Estates Sec 05
$850,000 $238 3 bd / 3 ba 3,578 sqft , 2026-09-12
3206 Marshall Ave
HIGHLAND LAKE ESTATES
$849,000 $278 4 bd / 4 ba 3,050 sqft , 2025-10-23
3714 PARLIAMENT Cv
Highland Lake Estates Sec 23
$750,000 $323 4 bd / 3 ba 2,320 sqft , 2025-07-29
21002 Newhaven Cv
Highland Lake Estates
$674,900 $290 3 bd / 3 ba 2,328 sqft , 2026-09-08
21408 Lakefront Dr
Country Club Estates Sec 05
$659,900 $264 4 bd / 3 ba 2,496 sqft , 2026-07-20

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
$4,128/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
$172,000
20% conventional investment loan

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

Estimated Gross Rent+$4,128
Principal + Interest−$4,693
Property Tax (~2.1% TX avg)−$1,505
Insurance (~0.5%)−$358
Est. Monthly Cash Flow $-2,428

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 2, 2026.

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