$425,000 Active
225 Palace Drive
Reno, NV 89506

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STR Status Unknown
4 Beds
·
1.5 Baths
·
1,144 Sq Ft

Our data on this home

About This Property

Veteran Buyers! This home has a $400,500 VA loan 5.3% 30 yr that can be assumed by a Veteran with VA Eligibility. So with a down payment of around under 6% you can have an amazing VA mortgage rate! Big space, great upgrades, and no HOA! This 4-bedroom, 1.5-bath home in Lemmon Valley offers 1,144 sq. ft. of comfortable living on a generous 0.23-acre lot. The sewer line has been recently replaced! Enjoy remodeled bathrooms, an updated kitchen with granite countertops and stainless steel appliances, plus a great room designed for easy everyday living. Step outside to a wraparound Trex deck, landscaped yard, and mountain views. RV parking and no HOA give you added freedom and flexibility. With a 1-car garage and convenient access to schools, parks, shopping, and North Reno amenities, this home packs plenty of value inside and out!

Listed by Paul Dunham — Elevate Realty

Listing Details

Status Active
MLS # 260011524
Days on Market 48
Price/Sq Ft $372

Property History

Sep 04, 2026
Listed for sale
$425,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
May 2025 $395,000 Laura Ann GrunenwaldRE/MAX Gold Paul DunhameXp Realty LLC

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 1.5
Sq. Ft. 1,144
Lot Size 0.23 acres
Stories 1
Year Built 1971
Property Type Single Family Residence
Subdivision Lemmon Valley Estates 4
APN 080-614-05
Parking
Garage Spaces 1
Total Parking 1
Parking Features Attached, Garage, Garage Door Opener, RV Access/Parking
Attached Garage Yes
Exterior & Lot
Exterior Features Rain Gutters
Lot Features Landscaped, Level, Sloped Up
View Mountain(s)
Roof Composition, Pitched
Foundation Crawl Space
Utilities & Systems
Heating Forced Air, Natural Gas
Cooling Evaporative Cooling
Financial
Annual Tax $808
Schools
Elementary School Lemmon Valley
Middle School OBrien
High School North Valleys
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STR Investment Analysis

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

STR Investment Analysis

STR analysis
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Home Insurance Estimate

Standard homeowners policy for this home

$1,600 – $2,400/yr
about $167/mo
Est. Rebuild Cost (Coverage A)
$480,480

Estimate from an estimated rebuild cost at standard-market rates. Not a bindable quote; get a local broker quote for accuracy.

See it in the monthly payment

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

$2,383 per month
Principal & interest
$2,149/mo
Property taxes
$67/mo
The seller's current bill, from the MLS: a Nevada bill doesn't reset when a home sells.
HOA dues
$0/mo
From MLS listing data.
Home insurance
$167/mo
Estimated ~$1,600–$2,400/yr — get a local broker quote for accuracy.
Down payment
20% ($85,000)
Home price
$425,000
Loan details
30-yr fixed, 6.5%
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