Active Listing  ·  223 days on market

40 N Interstate 35 None #6D3

Austin, TX 78701
$524,500
2 Bed 2 Bath 1,533 sqft $342/sqft Built 1983 0.03 acres 2-Car Garage Pool Waterfront Towers Town Lake Condo Amd

Beautiful downtown lake-view property, open floor plan, bright and spacious. Professionally renovated two-bedroom condo with two full baths. The generously sized unit is great for entertaining, skyline viewing and enjoying access to downtown culture and night life. Centrally located with easy access to all major highways. Spectacular sunsets right from the balcony, trail access, water sports, bat viewing and immediate access to downtown restaurants, museums, nightlife, festivals, music, entertainment and activities. Rich in amenities such as indoor/outdoor pool with hot tub, 24 hr. security and concierge, weight room, exercise room, dry sauna, steam shower, half basketball/racquetball court, pool/ping-pong room, library space, piano room, meeting room, laundry service pickup, guest parking and lovely spacious grounds. Enter through East or West access gate, call button available to call the front desk, you must sign in at front desk with license plate number. May satisfy requirements for a 1031 Exchange as currently there is a lease in place. Currently leased through April 17, 2027. Must owner occupy, at the end of current lease.

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 None #6D3, Austin, TX 78701

Property Details

Price $524,500
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,533 sqft
Lot Size 0.03 acres (1,219.68 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 $1,203.41/Monthly
Annual Tax Est. $9,500
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT216048335
List Date January 12, 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.

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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 · January 12, 2026 $569,000
Previous ask $539,000
Current ask $524,500
Reduced $44,500 (-7.8%) 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
507 Sabine St #605
Sabine On 05 Residential Condo
$538,998 $370 2 bd / 2 ba 1,456 sqft , 2024-06-20
40 N Interstate 35 None #7D4
Towers Town Lake Condo Amd
$549,000 $404 2 bd / 2 ba 1,360 sqft , 2026-08-12
54 Rainey St #609
Milago Condo Amd
$499,888 $429 2 bd / 2 ba 1,164 sqft , 2026-06-12
1117 Lawson Ln #2
Rosewood Village Sec 11
$549,995 $506 2 bd / 2 ba 1,086 sqft , 2025-06-06
40 N Interstate 35 Hwy #8C4
Towers Town Lake Condo Amd
$499,000 $342 2 bd / 2 ba 1,459 sqft , 2026-06-05

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
$2,518/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
$104,900
20% conventional investment loan

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

Estimated Gross Rent+$2,518
Principal + Interest−$2,862
Property Tax (~2.1% TX avg)−$918
Insurance (~0.5%)−$219
Est. Monthly Cash Flow $-1,481

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 11, 2026.

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