Tucked into the quiet, highly sought-after Cedar Flat neighborhood, this spacious mountain home offers the kind of Tahoe lifestyle people come here for. With access to the Cedar Flat Improvement Association - including a private beach, double-deck pier, and buoy field (via lottery) - your days can easily shift from morning coffee in the trees to afternoons on the lake. The home is designed for gathering, while still giving everyone their own space to unwind. The main living areas feel warm and inviting, with classic Tahoe wood accents, a beautiful stone wood-burning fireplace, and plenty of natural light. The dining area adds its own cozy touch with a brick gas fireplace, creating the perfect setting for long, relaxed dinners. Out front, a large deck sets the stage for entertaining, whether it’s summer evenings with friends or quiet mornings surrounded by the trees. The primary suite is a true retreat - spacious and private, with its own gas stove, balcony, oversized closet, and a well-appointed bath featuring a jetted tub and separate shower. Updated touches throughout, including brand new carpet, blend seamlessly with the home’s original character, giving it that timeless “Old Tahoe” feel without sacrificing comfort. A rare combination of location, charm, and functionality in one of Carnelian Bay’s most beloved neighborhoods.
Listed by Linda Granger — Christie's Int'l R.E. Sereno
Listing Details
StatusPending
MLS #20260557
Days on Market152
Sold Date2026-09-28
Price/Sq Ft$452
Property History
Apr 14, 2026
Listed for sale
$1,639,000
Jun 30, 2026
Price changed
$1,569,000
Aug 22, 2026
Price reduced
$1,475,000
$1,569,000
↓
$94,000
Aug 26, 2026
Pending
$1,475,000
Sale History
· changed hands 1×
Sold
Price
Listing agent (sell side)
Buyer agent (buy side)
Dec 2003
· county record
$525,000
Deed record — brokerage sides not reported
MLS closed sales, with duplicate ingestions collapsed and lease records excluded, so each row is a distinct transaction. Rows marked county record come from the assessor's deed data, which reaches back further than the MLS feed; rows marked via a listing site fill the years the feed misses using that site's public sale record.
See projected rental revenue, occupancy rates, and investment scores.
STR Investment Analysis
Yellow Zone
STRUCTURAL SCOREPremium
55
PROJECTED GROSS ANNUAL REVENUE
$50K – $115Ktypically ~$85,000
~$7,083 per month
Avg Nightly
$629
Occupancy
37%
Cap Rate
2.3%
STR Investment Analysis
STRUCTURAL SCORE
PROJECTED GROSS ANNUAL REVENUE
Avg Nightly
Occupancy
Cap Rate
Est. NOI
Net Operating Income = annual gross rental revenue minus operating expenses (cleaning, property management, taxes, insurance, HOA, utilities, maintenance, supplies) — but before mortgage payments.
We estimate it as NOI = Projected Annual Revenue × 40%, assuming ~60% of gross goes to operating expenses on a typical Tahoe STR.
NOI feeds the cap rate below: Cap Rate = NOI ÷ List Price.
Legal Occupancy
MONTHLY REVENUE
AVERAGE DAILY RATE
ADJUSTED OCCUPANCY
Estimates based on 2024-2025 comparable rental performance. Actual results vary.
STR Investment Summary — 590 Tunnington Drive, Carnelian Bay
Nightly rates and occupancy from Carnelian Bay market data (37 comparable 5-bedroom rentals, 2026-08); seasonality from comparable Tahoe rentals. Gross of management, cleaning and platform fees. Assumes full-year availability, professional management and dynamic pricing; owner use reduces it. Estimates vary.
Land Coverage (TRPA)
Tahoe Regional Planning Agency impervious-coverage budget for this parcel
Room to build
3,032 sq ft coveredof 3,601 sq ft allowed
570 sq ft of coverage still available to add.
Parcel Size
14,272 sq ft
Allowed Coverage
3,601 sq ft · 25%
Existing Coverage
3,032 sq ft · 21%
Addable Coverage
570 sq ft
Land Capability · TRPA-verified
6
TRPA caps how much of each Tahoe Basin parcel can be covered by impervious surfaces — buildings, driveways, decks. Estimated coverage — data: TRPA GIS / Tahoe Open Data. The only authoritative determination of coverage and land capability is a Land Capability Verification through TRPA; actual allowable coverage can differ due to verifications, transfers, banked coverage, or deed restrictions.
Public permit records from the Placer County permit portal, last checked 2026-08-22. Open permits should be finaled or closed before close of escrow; verify current permit status directly with the county.
Cost Segregation Tax Savings
Estimated first-year bonus depreciation savings
Estimated First-Year Tax Savings
$0
via bonus depreciation
Using estimated land ratio. Actual ratio may vary based on county assessment.
Land Value
$0
Improvement Basis
$0
5-Year Property (18%)
$0
15-Year Property (10%)
$0
How Cost Segregation Works:
Cost segregation reclassifies building components into shorter depreciation categories, allowing accelerated deductions.
Calculation:
Estimates are for informational purposes only and do not constitute tax advice. Consult a qualified CPA or tax professional for your specific situation. Actual savings depend on individual tax circumstances.
Payment calculator
$0 per month
Principal & interest
$0
Property taxes
$0
HOA dues
$0
From MLS listing data.
Home insurance
$0
Insurance estimate only — Tahoe wildfire-zone rates vary; get a local broker quote for accuracy.