Active Listing  ·  124 days on market

40 N Interstate 35 Hwy N #1B3

Austin, TX 78701
$819,700
4 Bed 2 Bath 2,452 sqft $334/sqft Built 1983 0.04 acres 2-Car Garage Pool Waterfront Towers Town Lake Condo Amd

Towers of Town Lake delivers resort-caliber amenities rarely matched in urban Austin: indoor and outdoor pools, hot tub and spa, fitness center, racquetball court, resident lounges, game room, snack lounge, and concierge service — all within a gated, professionally managed community. This residence includes two designated parking spaces and a private storage unit directly adjacent to the condo.

Rare ground-floor residence spanning 2,452 square feet with four bedrooms plus a dedicated library/study — a scale and flexibility genuinely uncommon in downtown Austin condo living. Living, dining, and work areas connect naturally, creating a residence that feels both expansive and purposefully functional.

Ground-floor positioning is a rare distinction here. Direct outdoor access, zero elevator dependency, and seamless connection to beautifully landscaped grounds deliver convenience, privacy, and indoor-outdoor ease that sets this residence meaningfully apart.

The location is unmatched. Steps from Lady Bird Lake and the Hike-and-Bike Trail. Minutes from Rainey Street, downtown Austin dining, entertainment, and major employers. Airport easily accessible. Towers of Town Lake are among the rarest offerings in Austin's luxury market.

At $334/sqft, this home is 15% 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 N #1B3, Austin, TX 78701

Property Details

Price $819,700
Status Active Listing
Beds 4
Full Baths 2
Half Baths ,
Living Area 2,452 sqft
Lot Size 0.04 acres (1,916.64 sqft)
Year Built 1983
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision Towers Town Lake Condo Amd
County Travis
Zip Code 78701
$/sqft $334/sqft
Days on Market ,
HOA $1,924.82/Monthly
Annual Tax Est. $5,943.91
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT224442199
List Date April 2, 2026
Elementary School Mathews
Middle School O Henry
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.

Schedule a Call →

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
5009 Mandevilla Dr
Greyrock Ridge Ph 3
$819,900 $282 4 bd / 4 ba 2,909 sqft , 2026-07-15
1301 Town Creek Dr #2
South Shore Pointe
$819,000 $324 3 bd / 4 ba 2,528 sqft , 2025-10-09
4207 Margarita St
Mueller
$814,500 $419 3 bd / 3 ba 1,942 sqft , 2026-07-09
9208 Dingo Dr
Easton Park
$824,900 $276 4 bd / 4 ba 2,993 sqft , 2026-05-22
15040 Broken Bow Trl
Apache Shores 01 Instl
$824,990 $329 4 bd / 3 ba 2,507 sqft , 2026-07-11

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
$3,935/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
$163,940
20% conventional investment loan

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

Estimated Gross Rent+$3,935
Principal + Interest−$4,473
Property Tax (~2.1% TX avg)−$1,434
Insurance (~0.5%)−$342
Est. Monthly Cash Flow $-2,314

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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