$675,000 Active
917 Rainbow Drive
South Lake Tahoe, CA 96150
✓ STR Allowed — Permit Required
City of South Lake Tahoe requires a Vacation Home Rental (VHR) permit — capped at roughly 900 permits citywide (residential zones), so availability varies. Verify current permit availability before counting on rental income.
3 Beds
·
2.0 Baths
·
1,244 Sq Ft

About This Property

Welcome to this warm and inviting home in the centrally located Tahoe Island neighborhood. This single-story residence features a thoughtfully designed floor plan on a level lot, offering both comfort and convenience. Step inside to a spacious living room anchored by a gas fireplace, creating a cozy focal point for gathering. Adjacent to the living area is a charming dining nook and the kitchen with ample space for cooking. Down the hall, sits two bedrooms, a full bathroom, and the primary suite. Both bathrooms have been tastefully updated, adding a fresh, modern touch. Outside, the fully fenced backyard includes a storage shed and low-maintenance landscaping in both the front and back yards. The nearby bike path is just outside the door, and you'll enjoy being only minutes from beautiful beaches, world-class ski resorts, shopping, dining, and all that South Lake Tahoe has to offer.

Listed by Chris Hernandez — Compass

Listing Details

Status Active
MLS # 143211
Sold Date 1800-01-01
Price/Sq Ft $543

Property History

Jul 17, 2026
Listed for sale
$675,000
Property Overview
Beds 3
Baths 2.0
Sq. Ft. 1,244
Lot Size 0.14 acres
Year Built 1969
Property Type Single Family Residence
Style Ranch
Subdivision Tallac Park
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 023772014000
Parking
Garage Spaces 2
Attached Garage Yes
Exterior & Lot
Exterior Features Storage Shed
Construction Wood Frame
Roof Pitched, Composition
Foundation Concrete/Crawl Space
Utilities & Systems
Heating Forced Air, Natural Gas
📊

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%

STR Investment Summary — 917 Rainbow Drive, South Lake Tahoe

Est. Annual Revenue
$39,799
Avg Nightly Rate
$208
Projected Occupancy
52.4%
Cap Rate
2.4%
Structural Score: 51 / 100 (Standard) · STR Zone: Yellow

Based on comparable vacation rental performance data for South Lake Tahoe. Revenue projections are estimates and may vary.

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Room to build
1,600 sq ft covered of 1,830 sq ft allowed
230 sq ft of coverage still available to add.
Parcel Size
6,100 sq ft
Allowed Coverage
1,830 sq ft · 30%
Existing Coverage
1,600 sq ft · 26%
Addable Coverage
230 sq ft
Existing Units
1

TRPA caps how much of each Tahoe Basin parcel can be covered by impervious surfaces — buildings, driveways, decks. Figures come from TRPA's public parcel data and are estimates; verify before relying on them for a build or purchase.

Verify on Tahoe Info ↗

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% ($135,000)
Home price
$675,000
Loan details
30-yr fixed, 6.5%
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