$500,000 Active
508 Modoc Street
Reno, NV 89509
STR Status Unknown
2 Beds
·
3.0 Baths
·
2,062 Sq Ft

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About This Property

A rare opportunity in the heart of Old Southwest Reno! This expansive home is ready for a complete transformation, offering an exceptional combination of location, architecture, space, and a large corner lot. The home requires a full renovation, but the bones and character are here to create something truly special. Architectural details include soaring, open-beam wood ceilings, large living spaces, and an incredible second-story retreat with vaulted wood ceilings, expansive windows, a massive bathroom, and walk-in closet. Formerly the primary suite, this remarkable space could become a spectacular studio, office, gym, additional living area, or a combination of these! The home's current bedroom count doesn't begin to capture its potential. With substantial square footage and multiple areas to reconfigure, there are numerous possibilities for creating additional bedrooms and customized living spaces. A new roof has recently been installed, and the home has been converted to natural gas. Outside, the oversized corner lot offers flat, usable front and rear yards and a 2-car carport, with potential for a future garage. Just minutes from Coffeebar, Midtown, and the many shops, restaurants, and amenities that make Old Southwest one of Reno's most desirable neighborhoods. IMPORTANT: Power and water are currently disconnected. The property requires extensive renovation and is being sold strictly AS-IS. CASH BUYERS ONLY. Bring your vision, contractor, and creativity; this is a chance to transform a truly unique property in an exceptional location. SELLER TO REVIEW OFFERS ON SATURDAY, OCTOBER 3 AT 12PM.

Listed by Alicia Gardner — Redfin

Listing Details

Status Active
MLS # 260012382
Days on Market 9
Price/Sq Ft $242

Property History

Sep 25, 2026
Listed for sale
$500,000
Property Overview
Beds 2
Baths 3.0
Sq. Ft. 2,062
Lot Size 0.13 acres
Stories 2
Year Built 1942
Property Type Single Family Residence
Subdivision Hamlin
APN 014-202-07
Parking
Total Parking 3
Parking Features Carport, Detached, Parking Pad
Exterior & Lot
Exterior Features None
Lot Features Level
View Mountain(s)
Roof Composition, Pitched, Shingle
Foundation Crawl Space
Utilities & Systems
Heating Forced Air, Natural Gas
Financial
Annual Tax $1,522
Schools
Elementary School Mt. Rose
Middle School Swope
High School Reno
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STR Investment Analysis

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

STR Investment Analysis

STR analysis
STRUCTURAL SCORE —
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PROJECTED GROSS ANNUAL REVENUE
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Avg Nightly
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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

$2,955 per month
Principal & interest
$2,528/mo
Property taxes
$127/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
$300/mo
Estimated ~$2,900–$4,300/yr — get a local broker quote for accuracy.
Down payment
20% ($100,000)
Home price
$500,000
Loan details
30-yr fixed, 6.5%
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