$999,000 Active
12480 Rainbow Drive
Truckee, CA 96161
⚠ STR Permit Cap Reached
Town of Truckee STR permit cap has been reached. 1-year waiting period after purchase before you can apply. Verify current waitlist status before buying.
3 Beds
·
2.5 Baths
·
1,834 Sq Ft

About This Property

Nestled among the pines in Prosser Lakeview Estates, this Truckee retreat offers the rare combination of refined mountain living and effortless tranquility. From the moment you arrive, the wide, flat driveway, a true luxury during Sierra winters, and thoughtfully designed, separate vestibule signal that every detail of this home has been considered. Inside, 1,834 square feet of open-plan living unfolds beneath vaulted wood ceilings, where a classic wood-burning stove anchors the great room in warmth and character. A dramatic wall of windows frames sweeping 180-degree views of your private forested hillside, creating a living painting that changes with every season, yet always feels completely your own. The gourmet kitchen is both beautiful and functional, outfitted with high-end stainless steel appliances, generous counter space, and a center island with bar seating that is equally suited to a quiet morning coffee or a lively après-ski dinner party. The adjacent dining area flows seamlessly into the living room, making the entire main level feel at once spacious and intimate. Three bedrooms and 2.5 bathrooms provide comfort for family and guests alike. The primary ensuite is a true sanctuary: enter through a sleek barn door to discover radiant heated floors, double vanities, a walk-in closet, and a spa-like rain shower. The second full bathroom is equally considered, with custom tile work, a full bathtub, and a flexible handheld shower. Recent improvements elevate everyday living throughout: luxury vinyl plank flooring in the main living area delivers style and easy upkeep; plush Berber wool loop carpet makes the downstairs bedrooms warm and inviting; and a brand-new garage storage system ensures mountain life stays beautifully organized. Situated on approximately half an acre, you can step outside and breathe it all in. The deck backs directly to a wooded hillside for complete privacy, where you can sink into the hot tub under a canopy of stars, gather around the table for an alfresco dinner, or simply let the stillness of the forest settle over you. And when adventure calls, you're perfectly positioned to answer: Prosser Reservoir, Downtown Truckee, and the Truckee River are all five minutes away; Donner Lake is just 12; and the shores of Lake Tahoe are a short 25-minute drive. Whether you're seeking a full-time residence or the ultimate mountain getaway, this is the one you've been waiting for.

Listed by Lukas Brassie — COMPASS

Listing Details

Status Active
MLS # 20261104
Price/Sq Ft $545

Property History

Jun 08, 2026
Listed for sale
$999,000
Property Overview
Beds 3
Baths 2.5
Sq. Ft. 1,834
Lot Size 0.49 acres
Stories 3
Year Built 1996
Property Type Single Family Residence
Style Mountain
Subdivision Truckee
County Placer
STR Jurisdiction Town of Truckee
APN 016-360-016-000
Parking
Parking Features Two
Exterior & Lot
Exterior Features High Ceilings
Lot Features Level,Upslope,Gentle
View Wooded
Construction Framed
Roof Composition
Foundation Perim Concrete
Utilities & Systems
Heating Natural Gas,CFAH
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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%

STR Investment Summary — 12480 Rainbow Drive, Truckee

Est. Annual Revenue
$56,050
Avg Nightly Rate
$435
Projected Occupancy
37.2%
Cap Rate
2.2%
Structural Score: 78 / 100 (Luxury) · STR Zone: Red

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

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% ($199,800)
Home price
$999,000
Loan details
30-yr fixed, 6.5%
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Murat Gocmen
Murat Gocmen
Managing Broker
CA DRE# 02235314 NV B.1003327.LLC

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