Active Listing  ·  79 days on market

40 N Interstate 35 Hwy #8C4

Austin, TX 78701
$499,000
2 Bed 2 Bath 1,459 sqft $342/sqft Built 1983 0.03 acres 2-Car Garage Pool Waterfront Towers Town Lake Condo Amd

***PRICE IMPROVEMENT! PRICED TO SELL*** Enjoy elevated downtown living at Towers of Town Lake, where Residence No. 8C4 offers a rare lake-facing home on the eighth floor with resort-style amenities and an unbeatable address along the Lady Bird Lake Hike-&-Bike Trail. ***Eighth-Floor Lake Views*** A high floor facing the water means open views of Lady Bird Lake and the greenbelt from the living room, private balcony, and both bedrooms — a million-dollar-plus view at half the cost. ***Larger, Open Floor Plan*** Approximately 1,459 square feet of hardwood-floored living, with a spacious living room open to a separate dining area, all wrapped in floor-to-ceiling glass. ***Full Kitchen with In-Home Laundry*** The kitchen offers wood cabinetry, tile counters, a breakfast bar, and a full appliance suite, plus a dedicated laundry room with full-size washer and dryer — the refrigerator, washer, and dryer all convey. ***True Split Plan*** Two bedrooms on separate sides of the home for privacy — both facing the lake — with two full baths, a walk-in closet, and generous built-in storage throughout. ***Classic Original Finishes — Your Blank Canvas*** Clean and move-in ready, priced on view, value, and location so you can make it your own over time. ***24/7 Concierge & Resort-Style Amenities*** Two pools including an indoor heated pool, plus a spa, sauna, sport court, two workout rooms, a community library, and concierge service in a gated community. ***Prime Location*** Walk to Lady Bird Lake, downtown Austin, and the vibrant Rainey Street District from the calm of a gated address. Come for the view, stay for the lifestyle.

At $342/sqft, this home is 13% below the Austin active market average of $391/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

40 N Interstate 35 Hwy #8C4, Austin, TX 78701

Property Details

Price $499,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,459 sqft
Lot Size 0.03 acres (1,128.2 sqft)
Year Built 1983
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision Towers Town Lake Condo Amd
County Travis
Zip Code 78701
$/sqft $342/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $8,390.96
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT232521800
List Date June 5, 2026
Elementary School Mathews
Middle School Martin
High School Austin
School District ,

Luke Allen (TREC #788149) has deep knowledge of Austin 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 · June 5, 2026 $525,000
Previous ask $500,000
Current ask $499,000
Reduced $26,000 (-5.0%) 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 Austin

Comparable Listings Right Now

Homes currently for sale in Austin 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
54 Rainey St #609
Milago Condo Amd
$499,888 $429 2 bd / 2 ba 1,164 sqft , 2026-06-12
1601 E 5th St #211
Saltillo Lofts Condo Amd
$495,000 $404 2 bd / 2 ba 1,225 sqft , 2026-07-23
1305 E 6th St #13
1305 Lofts A Condo Amd
$475,000 $413 1 bd / 2 ba 1,150 sqft , 2026-05-08
603 Davis St #811
Shore A Condo Amd The
$475,000 $462 1 bd / 1 ba 1,029 sqft , 2026-07-31
40 N Interstate 35 None #6D3
Towers Town Lake Condo Amd
$524,500 $342 2 bd / 2 ba 1,533 sqft , 2026-01-12

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
$2,395/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
$99,800
20% conventional investment loan

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

Estimated Gross Rent+$2,395
Principal + Interest−$2,723
Property Tax (~2.1% TX avg)−$873
Insurance (~0.5%)−$208
Est. Monthly Cash Flow $-1,409

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 Austin, TX

Austin 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 20, 2026.

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