Active Listing  ·  254 days on market

40 N Interstate 35 None #3B3

Austin, TX 78701
$364,900
2 Bed 2 Bath 1,288 sqft $283/sqft Built 1983 0.02 acres 2-Car Garage Pool Waterfront Towers Town Lake Condo Amd
40 N Interstate 35 None #3B3, photo 1
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40 N Interstate 35 None #3B3, photo 12

About This Home

South facing unit, third floor in "B" Building which is the second in from Rainey Street (third building away from IH35). Amenities include one indoor/one outdoor pool, a cardio exercise room, weight room, library, meeting rooms, billiard room, racketball court. Walk through gate and cross street to Lady Bird Lake hike & bike trails. Watch the bats emerge out from under the Congress Ave bridge from your balcony and enjoy beautiful sunsets.

Two assigned parking spaces (one covered)

At $283/sqft, this home is 27% below the Austin active market average of $390/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

40 N Interstate 35 None #3B3, Austin, TX 78701

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Property Details

Price $364,900
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,288 sqft
Lot Size 0.02 acres (1,010.59 sqft)
Year Built 1983
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision Towers Town Lake Condo Amd
County Travis
Zip Code 78701
$/sqft $283/sqft
Days on Market ,
HOA $1,011/Monthly
Annual Tax Est. $8,698
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT219653745
List Date March 3, 2026
Elementary School Mathews
Middle School O Henry
High School Austin
School District Austin ISD

School District

Austin ISD

Mathews · O Henry · Austin

Have Questions About This Property?

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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 · March 3, 2026 $419,000
Previous ask $369,000
Current ask $364,900
▼ Reduced $54,100 (-12.9%) 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
1615 E 7th St #202
1615 East 7th Condos $375,000 $375 1 bd / 1 ba 1,000 sqft , 2026-10-09
1402 Parker Ln #3
Parker Lane Condo $378,900 $267 3 bd / 3 ba 1,420 sqft , 2026-09-26
603 Davis St #907
Shore A Condo Amd The $330,000 $375 1 bd / 1 ba 879 sqft , 2026-09-18
1202 Newning Ave #100
Madrid $324,000 $351 2 bd / 2 ba 924 sqft , 2026-10-12
800 Embassy Dr #124
Tyndall/Robertson Hill Condos $419,900 $422 1 bd / 1 ba 995 sqft , 2026-10-14

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
$1,752/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
$72,980
20% conventional investment loan

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

Estimated Gross Rent+$1,752
Principal + Interest−$1,991
Property Tax (assumed ~2.1%)−$639
Insurance (assumed ~0.5%)−$152
Est. Monthly Cash Flow $-1,030

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 · 41 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. The written content was last updated on October 27, 2026.

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

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