$874,000 Active
2985 Socrates Drive
Reno, NV 89512
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.
6 Beds
·
3.0 Baths
·
3,493 Sq Ft

About This Property

Positioned on a prominent corner lot in one of Reno's most connected locations, this rare opportunity offers the space, layout, and potential that today's buyers dream about. With six bedrooms and a footprint surrounded by neighboring luxury properties reaching well over our price, this home is the perfect chance to create substantial upside and long-term value. Did we mention the views from almost every window? Located just moments from University of Nevada, Reno and steps from McCarran Boulevard, the property places you minutes from Downtown Reno, Midtown, shopping, dining, medical facilities, and easy freeway access to all parts of Northern Nevada. The home itself is ready for transformation. 3 Beds on main level, including primary suite, additional 3 bedrooms 1 bath and flex/bonus space downstairs. Flooring, kitchen, and bathrooms offer a blank canvas for remodeling and customization, making this an incredible option for investors, multigenerational living, student housing possibilities, or buyers wanting to build equity in a premier location. Outside, the oversized driveway, expansive corner setting, and large detached garage create flexibility rarely found in this price range , ideal for hobbies, storage, additional vehicles, workshops, or future creative use. This house was used to provide a nurturing environment for many, many students from all over the world as they attended UNR to become professors, doctors, engineers, and overall leaders in their communities. Priced intentionally below surrounding comparable properties, 2985 Socrates Drive is more than a home, it's an opportunity to reimagine, renovate, and unlock the full potential of an exceptional Reno location.

Listed by Linda Christensen — RE/MAX Gold

Listing Details

Status Active
MLS # 260006214
Price/Sq Ft $250

Property History

May 16, 2026
Listed for sale
$874,000
Property Overview
Beds 6
Baths 3.0
Sq. Ft. 3,493
Lot Size 0.35 acres
Stories 1
Year Built 1988
Property Type Single Family Residence
Subdivision University Heights 2 Phase 2
APN 003-501-16
Parking
Garage Spaces 3
Total Parking 5
Parking Features Detached, Garage, Garage Door Opener
Attached Garage Yes
Exterior & Lot
Exterior Features Rain Gutters
Lot Features Corner Lot, Gentle Sloping, Landscaped, Sprinklers In Front
View City, Mountain(s), Valley
Roof Composition, Shingle
Foundation Crawl Space
Utilities & Systems
Heating Forced Air, Natural Gas
Cooling Central Air
Financial
Annual Tax $3,552
HOA Fee $160 / Semi-Annually
HOA / Community University Ridge Homeowners Association
Schools
Elementary School Peavine
Middle School Clayton
High School Hug
HOA & Community
Community Amenities None
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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
Home insurance
$0
Estimate only — wildfire zone rates vary. Contact a local broker for an accurate quote.
Down payment
20% ($174,800)
Home price
$874,000
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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