ActiveResidential · sale

40 Interstate 35

Austin, TX 78701

$524,500

  • 2 beds
  • 2 baths
  • 1,533 sq ft
  • 0.03 acres
  • Built 1983

Listed by Southwest Realty Advisors, LLC · MLS #ACT5653121

40 Interstate 35, Austin, TX 78701 — photo 1 View full photo
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A FEW THINGS TO NOTICE

What stands out.

Living spaces

Beautiful downtown lake-view property, open floor plan, bright and spacious.

Details worth a look

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.

Year built

Built in 1983.

Highlights from the listing description and property details. Confirm features with the listing agent.

THE PROPERTY

Get to know the property.

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.
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THE NEIGHBORHOOD

Explore the location.

40 Interstate 35, Austin, TX 78701

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THE DETAILS

The details, all in one place.

Property type
Residential
Category
Residential
Year built
1983
Full baths
2
Half baths
0
Garage spaces
2
Cooling
Central Air, Electric
Heating
Central, Electric
Appliances
Built-In Oven(s), Dishwasher, Disposal, Electric Cooktop, Exhaust Fan, Microwave, Washer/Dryer Stacked, Electric Water Heater
Flooring
Tile, Vinyl
Fencing
Fenced, Wrought Iron
Accessibility
Customized Wheelchair Accessible, Accessible Doors
Pool features
Heated, In Ground, Indoor, Waterfall
Subdivision
Towers Town Lake Condo Amd
Parcel
02010402160089
HOA
Towers of Town Lake
HOA amenities
Common Area Maintenance, Landscaping, Security, Sewer, Trash, Water
HOA fee frequency
Monthly
Elementary school
Mathews
Middle school
O Henry
High school
Austin
Annual property tax
$9,500.00
HOA fee
$1,203.41

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

OWNERSHIP, WITH A PLAN

Investor outlook.

Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.

These are planning assumptions, not a rental appraisal or a loan quote. The starting rent is a price-based estimate; a local leasing professional can help confirm market rent.

Investor outlook assumes an all-cash purchase. No mortgage payment is deducted.

Estimated monthly cash flow · cash purchase$-407.73
Estimated monthly rent$2,185.42
Cap rate-0.68%

Annual operating income: $-3,581.49

Have ERA review this rental estimate

Your property and current assumptions will be included for our team to review.

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Purchase price
Rental income & operating costs

Purchase price × 5% ÷ 12. Updates with purchase price until you enter a custom rent.

Annual insurance starts at purchase price × 0.25%, rounded to the nearest available amount. Updates with purchase price until you choose another amount.A planning estimate, not an insurance quote. Adjust it for your property and coverage.

Percentages are editable examples, not ERA fee quotes. Management is applied to rent after vacancy; maintenance and capital reserves use scheduled rent. Add owner-paid utilities, mortgage insurance and other recurring expenses under other costs.

How this scenario is calculated

Annual operating income is rent after vacancy, management, maintenance, taxes, insurance, HOA and other operating costs, before financing and capital reserves. Cap rate divides annual operating income by purchase price. Estimated monthly cash flow assumes an all-cash purchase: rent after vacancy, management, maintenance, taxes, insurance, HOA, other operating costs and capital reserves. No mortgage payment is deducted. The mortgage calculator is separate; loan payments would reduce cash flow for a financed purchase. One-time acquisition costs, renovations, income taxes, depreciation and appreciation are excluded.

Mortgage payment calculator

Explore financing separately. These loan settings do not change the all-cash investor outlook.

Mortgage assumptions

20% down and 7% interest are illustrative starting values.

Estimated monthly principal & interest—Loan payment only. Excludes property taxes, homeowners/flood insurance, mortgage insurance and HOA dues.

About this payment estimate

Based on a fixed-rate, fully amortizing loan with monthly payments and the price, down payment, interest rate and term you select. The interest rate is an example, not a current rate offer or APR; APR includes certain loan costs. This is an illustration, not a Loan Estimate, approval, offer of credit or commitment to lend.

Your actual payment, rate and eligibility depend on your lender, credit, loan program and property. Closing costs, points, prepaid expenses and lender fees are not included. Taxes and insurance may change, and mortgage insurance may be required, particularly with a down payment below 20%. Ask your lender for a Loan Estimate and a complete monthly payment including applicable taxes, insurance and fees.

Dollar results are rounded to the nearest cent; calculations retain precision until display. A cash purchase has no loan payment but still has ownership costs. Understand your total home payment (CFPB).

ERA PROPERTY MANAGEMENT

See its potential.
Have a plan for what follows.

Considering this property as a rental? Start with the numbers, then talk through the day-to-day with a local management team.

  1. Understand the opportunity.

    Review rental pricing, property condition and your ownership goals with a local professional.

  2. Make a strong first impression.

    Bring together property preparation, professional marketing and applicant screening.

  3. Stay connected to your investment.

    Get support with rent collection, resident communication, maintenance coordination and owner reporting.

Get a local rental estimateTalk through your management needs
Stone-front home with a landscaped lawn and central entry
A more complete plan for your property

LOCAL PEOPLE. SHARED COMMITMENT.

A team behind your next step.

From your first question to the everyday work of ownership, a conversation with the right person makes a difference.

Meet ERA Property Management

Residential management in Utah, Nevada and Texas. Service availability and rental eligibility must be confirmed for each property. Commercial and association services are available through our management services page.

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40 Interstate 35, Austin, TX 78701 · MLS #ACT5653121

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Listing information

MLS #ACT5653121 · Austin Board of Realtors

Listing brokerage: Southwest Realty Advisors, LLC
Listing agent: Trina Baumgarten

Listing status: Active. Record updated . Confirm current availability and price with the listing agent.