$625,000 $699,000 ↓ $74,000 reduced Active
3297 Marlette Circle
South Lake Tahoe, CA 96150
⏳ STR — New Permits Waitlisted
City of South Lake Tahoe VHR permit required — and as of August 21, 2026 ALL new permit applications are automatically waitlisted as the city approaches its 900-permit residential cap. There is no guarantee a new owner will obtain a permit, and permits do NOT transfer on sale. Do not count on rental income without a permit in hand.
4 Beds
·
2.0 Baths
·
1,988 Sq Ft
Virtual Tour

About This Property

STR Update: The City of South Lake Tahoe's new STR ordinance is now in effect, and the City has not yet reached its 900-permit residential cap. Buyers interested in STR use should independently verify property eligibility, current permit availability, and application requirements directly with the City.Priced aggressively and ready for improvement, this centrally located South Lake Tahoe fixer offers real square footage, a flat sunny lot, and multiple paths to add value.Close to the lake, Bijou Golf Course, restaurants, shopping, and the city's new Multigenerational Recreation & Aquatics Center, set to open this month, the property also backs to open ball fields near the Boys and Girls Club, giving it a more open feel than most in-town homes. The extra-deep driveway offers plenty of parking and potential room for a future garage.The house is barely connected and lives more like two distinct spaces, each with its own entrance. For a buyer considering hosted rental potential while living in one portion of the home, that setup is worth a serious look, subject to buyer verification. Add a wet bar or kitchenette, add a garage, and the flexibility becomes even more compelling.A brick fireplace, breakfast nook, separate dining area, large laundry space, bonus family room, four bedrooms, two full baths, fenced backyard, and storage shed round out a property with real upside. Not turnkey, but priced accordingly.

Listed by Mark Salmon — Compass

Listing Details

Status Active
MLS # 142673
Days on Market 165
Sold Date 1800-01-01
Price/Sq Ft $314

Property History

Apr 02, 2026
Listed for sale
$699,000
Aug 19, 2026
Pending
$625,000
Aug 21, 2026
Relisted
$625,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Mar 2022 · county record $600,000 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.

Property Overview
Beds 4
Baths 2.0
Sq. Ft. 1,988
Lot Size 0.11 acres
Year Built 1961
Property Type Single Family Residence
Style Chalet
Subdivision Bijou Park
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 025372021000
Parking
Parking Features RV Access/Parking
Exterior & Lot
Exterior Features Storage Shed, Bear-Proof Trash Can
View Filtered, Forest, Ski Resort
Construction Wood Frame, Wood Siding
Roof Pitched, Asphalt, Composition
Foundation Concrete/Crawl Space
Utilities & Systems
Heating Forced Air, Natural Gas, Wall or Space Heater
📊

STR Investment Analysis

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

STR Investment Analysis

Red Zone
STRUCTURAL SCORE Premium
65
PROJECTED GROSS ANNUAL REVENUE
$40K – $75K typically ~$50,000
~$4,167 per month
Avg Nightly
$282
Occupancy
48%
Cap Rate
3.2%

STR Investment Summary — 3297 Marlette Circle, South Lake Tahoe

No revenue projection. Short-term rental permits are not currently obtainable here — the local jurisdiction has reached its permit cap or is waitlisting all new applications.
Est. Gross Annual Revenue
$40K – $75K
typically ~$50,000
Avg Nightly Rate
$282
Projected Occupancy
48.5%
Cap Rate
3.2%
Structural Score: 65 / 100 (Premium) · STR Zone: Red

Based on comparable vacation rental performance data for South Lake Tahoe. Gross of management, cleaning and platform fees. Assumes full-year availability, professional management and dynamic pricing; owner use reduces it. Revenue projections are estimates and may vary.

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Over coverage limit
2,313 sq ft covered of 1,502 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
5,008 sq ft
Allowed Coverage
1,502 sq ft · 30%
Existing Coverage
2,313 sq ft · 46%
Addable Coverage
0 sq ft
Existing Units
1

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.

TRPA parcel fact sheet ↗

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% ($125,000)
Home price
$625,000
Loan details
30-yr fixed, 6.5%
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