$475,000 Active
1050 Novelly Drive
Reno, NV 89503
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.
2 Beds
·
1.0 Baths
·
888 Sq Ft

About This Property

Open house 5/30/26 9am-12pm!! Fantastic opportunity just minutes from the University of Nevada, Reno! This charming and fully furnished home has been successfully utilized as a rental for the past 3 years, making it an ideal option for investors, student housing, traveling professionals, or buyers seeking a turnkey short-term rental opportunity. Situated in one of Reno's most desirable central locations, this property offers convenient access to UNR, downtown Reno, restaurants, shopping, and freeway access. Inside, you'll find a well-maintained home featuring original wood flooring, an adorable kitchen, abundant natural light, and timeless character throughout. The spacious lot is surrounded by mature trees and landscaping, creating a private and inviting outdoor setting perfect for relaxing or entertaining. Major recent upgrades include a brand new roof, new windows throughout, newly added A/C and mini split systems for year-round comfort, and a new sewer line, providing peace of mind for future owners. Whether you're looking to expand your investment portfolio or secure a move-in ready home in a prime location, this property checks all the boxes. Most furnishings are negotiable, offering a rare opportunity to purchase a truly turnkey home. Don't miss your chance to own a proven income-producing property near the university in the heart of Reno!

Listed by Kautz Zinda Real Estate Group — Realty One Group Eminence

Listing Details

Status Active
MLS # 260006868
Price/Sq Ft $535

Property History

May 29, 2026
Listed for sale
$475,000
Property Overview
Beds 2
Baths 1.0
Sq. Ft. 888
Lot Size 0.15 acres
Stories 1
Year Built 1947
Property Type Single Family Residence
Subdivision Cleaview Heights
STR Jurisdiction Washoe County
APN 006-074-28
Parking
Garage Spaces 1
Total Parking 1
Parking Features Attached, Garage
Attached Garage Yes
Exterior & Lot
Exterior Features None
Lot Features Landscaped, Sprinklers In Front, Sprinklers In Rear
View Mountain(s)
Roof Composition, Shingle
Foundation Crawl Space
Utilities & Systems
Heating Electric
Cooling Central Air
Financial
Annual Tax $826
Schools
Elementary School Elmcrest
Middle School Clayton
High School Reno
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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% ($95,000)
Home price
$475,000
Loan details
30-yr fixed, 6.5%
Request a Tour
Kristina Mattson
Kristina Mattson
Broker - Owner
CA 01950662

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