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 $286/sqft, this home is 27% below the Austin active market average of $392/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 $369,000

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 $286/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 ,

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 $409,000

Current ask $369,000

▼ Reduced $50,000 (-11.9%) 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

2215 Post Rd #2076
Travis Oaks Condo Amd $349,000 $357 2 bd / 2 ba 977 sqft , 2026-07-09

603 Davis St #907
Shore A Condo Amd The $330,000 $375 1 bd / 1 ba 879 sqft , 2026-09-18

1615 E 7th St #208
1615 East 7th Condos $409,000 $400 1 bd / 1 ba 1,022 sqft , 2026-02-24

555 E 5th St #903
Five Fifty 05 Condo Amd $429,000 $378 1 bd / 1 ba 1,134 sqft , 2026-06-04

40 N Interstate 35 Hwy #4A4
Towers Town Lake Condo Amd $429,000 $348 2 bd / 2 ba 1,234 sqft , 2026-08-31

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

$1,771/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

$73,800

20% conventional investment loan

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

Estimated Gross Rent+$1,771

Principal + Interest−$2,014

Property Tax (~2.1% TX avg)−$646

Insurance (~0.5%)−$154

Est. Monthly Cash Flow $-1,043

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

About the Author

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 12, 2026.

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

40 N Interstate 35 None #3B3