$949,000 Active
978 Dancing Bears
Portola, CA 96122
STR Status Unknown
3 Beds
·
2.5 Baths
·
2,616 Sq Ft
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About This Property

Perched on 2.04 private, forested acres, this exceptional mountain retreat offers the perfect balance of luxury, privacy, and timeless Lost Sierra charm. Encompassing approximately 2,616 square feet, the residence features three bedrooms, two and a half bathrooms, and an inviting floor plan designed to embrace its breathtaking natural surroundings. From the moment you step inside, soaring vaulted ceilings, rich hardwood floors, and striking exposed wood beams create a warm, sophisticated atmosphere. Walls of windows fill the home with natural light while framing picturesque views of the surrounding pines and distant mountain ridgelines, creating a seamless connection between the indoors and out. Designed for both everyday comfort and effortless entertaining, the open-concept living area flows beautifully between the kitchen, dining, and great room. A stunning stone fireplace anchors the space, offering the perfect setting to gather on cool mountain evenings. Thoughtfully designed bedrooms provide peaceful retreats, each enhanced by abundant natural light and serene woodland views. Outdoor living is equally impressive, highlighted by an expansive 800-square-foot deck where you'll enjoy spectacular western sunsets, peaceful mornings with coffee, and evenings surrounded by the sights and sounds of nature. Whether hosting friends or simply unwinding after a day of adventure, this private setting delivers an unmatched sense of tranquility. Located within the prestigious gated Nakoma Community, residents enjoy access to miles of private hiking and walking trails, a championship golf course, and the peace of mountain living while remaining connected with high-speed fiber optic internet—ideal for remote work or full-time living. The vibrant community of Graeagle, Lake Davis, The Sierra Valley and the Lakes Basin Recreation Area are all just a short drive away, offering endless opportunities for dining, fishing, boating, hiking, and year-round outdoor recreation. Also available is the adjacent 2.69-acre homesite at 924 Dancing Bears. Showcasing dramatic granite outcroppings and panoramic views of Eureka Peak, this unimproved parcel presents a rare opportunity to preserve your privacy, create a legacy estate, or explore the potential for an additional residence or guest home (subject to applicable approvals). Please inquire with agent for more information.

Listed by Jayce Coziar — Sierra Sothebys Intl. Realty

Listing Details

Status Active
MLS # 260009907
Price/Sq Ft $363

Property History

Aug 01, 2026
Listed for sale
$949,000
Property Overview
Beds 3
Baths 2.5
Sq. Ft. 2,616
Lot Size 2.04 acres
Stories 2
Year Built 2003
Property Type Single Family Residence
APN 131-160-016-000
Parking
Garage Spaces 3
Total Parking 4
Parking Features Attached, Garage
Attached Garage Yes
Exterior & Lot
Exterior Features Rain Gutters
Lot Features Gentle Sloping
View Mountain(s)
Roof Composition
Foundation Concrete Perimeter
Utilities & Systems
Heating Geothermal
Cooling Central Air
Financial
Annual Tax $9,309
HOA Fee $375 / Quarterly
HOA / Community Nakoma Community Association
Schools
Elementary School Out of Area
Middle School Out Of Area
High School Out Of Area
HOA & Community
Community Amenities Clubhouse, Fitness Center, Golf Course, Pool, Recreation Room, Spa/Hot Tub
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STR Investment Analysis

See projected rental revenue, occupancy rates, and investment scores.

STR Investment Analysis

Permitted Zone
STRUCTURAL SCORE Excellent
87
PROJECTED ANNUAL REVENUE
$142,500 ($118K – $167K range)
~$11,875 per month
Avg Nightly
$485
Occupancy
68%
Cap Rate
5.2%

Cost Segregation Tax Savings

Estimated first-year bonus depreciation savings

Estimated First-Year Tax Savings
$0
via bonus depreciation
Land Value
$0
Improvement Basis
$0
5-Year Property (18%)
$0
15-Year Property (10%)
$0
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.
Down payment
20% ($189,800)
Home price
$949,000
Loan details
30-yr fixed, 6.5%
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