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    Updated Condo with Lake Travis Views Title is generated by Realmo AI

    3404 American Drive #3119, Lago Vista, TX 78645

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    Claim this Listing
    For Sale
    $399,500

    Updated 3-bedroom condo with lake views and resort-style amenities.

    Type:Condominium
    Property size:
    1,681 SF
    Price / SF:
    $237/SF
    Added:
    Apr 25, 2025
    Days on Market:
    412
    Last Refresh:
    May 19 at 9:27 pm

    Property Features for 3404 American Drive #3119

    General Information

    Standard status
    Active
    Size
    1,681 SF
    Property subtype
    Condominium

    Building Details

    Year Built
    1987

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    Listing Contact
    Tanya Kerr
    Tanya Kerr

    Listing agent Tanya Kerr License #708400

    Listing office Douglas Elliman

    Listing date Apr 25, 2025

    Source Kw

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Douglas Elliman

    HighLights

    • Updated 3‑bedroom condo with lake and Hill Country views, ideal for vacation rental income.
    • Enjoy resort‑style amenities: private marina, pools, fitness center, spa, restaurant, and sports courts.
    • Wrap‑around balcony perfect for sunset views and relaxation.
    • Remodeled kitchen with quartz countertops and stainless steel appliances.
    • Primary suite with fireplace, balcony access, and spa‑inspired bath.
    • New windows/doors, HVAC (2022), washer/dryer minimize maintenance.

    Overview

    This updated three-bedroom, two-bath condo is located on the first floor of the gated, resort-style Island on Lake Travis. It offers lock-and-leave luxury and rental potential. New picture windows and sliding glass doors frame lake and Hill Country views, extending to a wrap-around balcony. The living room includes a wet bar. Upgrades include a new washer and dryer, plus an HVAC system replaced in 2022. The condo features new tile floors and a remodeled kitchen with quartz countertops, white cabinetry with pull-out drawers, a walk-in pantry, and white stainless appliances. The primary suite includes a fireplace, balcony access, a walk-in closet, and a spa-inspired bath with a soaking tub, separate shower, and oversized vanity. Two additional bedrooms share a remodeled bath. The property is 1681 square feet. Owners and guests have access to a private marina with boat slips, direct lake access, three swimming pools, hot tubs and saunas, a full fitness center and day spa, tennis and pickle ball courts, an on-site restaurant and bar, picnic and grilling areas, and a private shuttle. Both short-term and long-term rentals are permitted.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $49.4k $29.40
    − Vacancy −$2.6k −$1.53
    EGI $46.9k $27.87
    − OpEx −$21.1k −$12.54
    NOI $25.8k $15.33
    1,681 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $368.1K
    $322.1K – $429.5K (±1% cap)
    NOI $25,768 @ 7.0% cap · market cap 6.45%
    Second Best
    Hotel Hospitality
    $216.8K
    $189.7K – $253.0K (±1% cap)
    NOI $15,177 @ 7.0% cap · market cap 3.80%
    Theoretical Best
    Office A
    $702.7K
    $614.9K – $819.8K (±1% cap)
    NOI $49,189 @ 7.0% cap · market cap 12.31%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Gym & Fitness Center Accounting Firm Auto Repair Shop Big Box & Wholesale Store Department Store Hotel & Motel (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lago Vista
    County
    Travis
    State
    Texas
    Longitude
    -97.9683
    Latitude
    30.4521

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    FAQs

    What type of property is this?
    Short term rental property - Updated 3-bedroom condo with lake views and resort-style amenities.
    Where is this short term rental property located?
    The property is located at 3404 American Drive #3119 Lago Vista, TX.
    What is the asking price?
    The asking price for this property is $399,500.
    What are key features of this property?
    This property features: Updated 3‑bedroom condo with lake and Hill Country views, ideal for vacation rental income.; Enjoy resort‑style amenities: private marina, pools, fitness center, spa, restaurant, and sports courts.; Wrap‑around balcony perfect for sunset views and relaxation.
    (512) 748-5343
    We can help!
    Listing Contact
    Tanya Kerr
    Tanya Kerr
    Real Estate License ID: 708400
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