$4,395,000
120 State Route 28 #24
Crystal Bay, NV 89402
✓ STR Allowed — Permit Required
Placer County STR permit required. County-wide cap of 3,900 permits — new permits available until cap is reached.
2 Beds
·
2.5 Baths
·
1,810 Sq Ft
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About This Property

Positioned at one of the highest points in Stillwater Cove, Residence #24 captures elevated waterfront views across Lake Tahoe toward Incline Village and Diamond Peak. The marina and shoreline rest below while layered ridgelines rise beyond, creating privacy and depth. This generously scaled two-bedroom is designed for year-round living with gathering space above and retreat below. The main level features a wood-burning fireplace, dark wood floors, granite countertops, and custom built-ins. The upper deck extends the living area, oriented toward expansive lake and mountain views. Downstairs, the primary suite offers its own fireplace, private lakeview patio, walk-in closet, and oversized bath. The secondary bedroom is well proportioned. A powder room and full laundry add convenience. Stillwater Cove is a gated lakefront enclave with a private sandy beach, full-service marina, heated lakefront pool and spa, fitness center, tennis courts, and seasonal lakeside dining.

Listed by Camille Duvall — Sierra Sotheby's International

Listing Details

Status Active
MLS # 1018681
Days on Market 18
Price/Sq Ft $2,428

Property History

Feb 27, 2026
Listed for sale
$4,395,000
Property Overview
Beds 2
Baths 2.5
Sq. Ft. 1,810
Year Built 1980
Property Type Condominium
County Washoe
STR Jurisdiction Washoe County
APN 123-272-17
Parking
Parking Features Assigned,Garage
Attached Garage Yes
Exterior & Lot
Exterior Features Deck,Dog Run,Patio
View Lake,Mountain(s),Panoramic
Roof Composition
Pool & Spa
Pool Heated
Utilities & Systems
Heating Forced Air
Financial
Annual Tax $7,283
HOA Fee $2,200 / Monthly
HOA / Community Stillwater Cove HOA
HOA & Community
Community Amenities Beach Rights,Clubhouse,Fitness Center,Management,Pool,Tennis Court(s)
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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 — 120 State Route 28 #24, Crystal Bay

Est. Annual Revenue
$225,693
Avg Nightly Rate
$1929
Projected Occupancy
32.0%
Cap Rate
2.1%
Structural Score: 59 / 100 (Premium) · STR Zone: Yellow

Based on comparable vacation rental performance data for Crystal Bay. 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
Home insurance
$0
Estimate only — wildfire zone rates vary. Contact a local broker for an accurate quote.
Down payment
20% ($879,000)
Home price
$4,395,000
Loan details
30-yr fixed, 6.5%
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Murat Gocmen
Murat Gocmen
Real Estate Agent
License #CA 02235314

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