$1,975,000 Active Under Contract
359 Summit Drive
Stateline, NV 89449
✓ STR Allowed — Permit Required
Douglas County NV STR permit required — the county allots only about 600 permits and availability is hit-and-miss, so expect a possible waitlist. Check HOA rules too — many communities in this area restrict short-term rentals.
4 Beds
·
3.5 Baths
·
3,029 Sq Ft

About This Property

Tucked away in a charming and convenient Nevada neighborhood, this dream home has it all. Located just a few homes from the forest with miles of hiking and biking trails, and updated throughout, providing a truly effortless way to enjoy the Tahoe lifestyle. The exterior of the home features a tranquil waterfall in the front while the backyard has a large deck with a recessed hot tub and a park-like setting - all backing to a creek. Inside, the home offers downstairs living with an open floor plan, perfect for entertaining. The large kitchen has an island while the living room is centered by a beautiful granite fireplace, there is also a spacious dining room and a wet bar with a half-bath adjacent. The lower level is rounded off by the primary suite that also opens to the backyard. Upstairs is an additional living room, a bonus room, one en suite bedroom and two more bedrooms with a full bathroom. Just minutes to the beaches, Heavenly, Edgewood golf course and all that South Shore has to offer - you don't want to miss this home!

Listed by Brooke Hernandez — Compass

Listing Details

Status Active Under Contract
MLS # 260008005
Days on Market 46
Price/Sq Ft $652

Property History

Jun 22, 2026
Listed for sale
$1,975,000
Jul 15, 2026
Relisted
$1,975,000
Aug 03, 2026
Pending
$1,975,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Feb 2018 · county record $975,000 Deed record — brokerage sides not reported

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.

Property Overview
Beds 4
Baths 3.5
Sq. Ft. 3,029
Lot Size 0.39 acres
Stories 2
Year Built 1981
Property Type Single Family Residence
Subdivision Lakewood Knolls
County Douglas
STR Jurisdiction Douglas County
APN 1318-23-610-023
Parking
Garage Spaces 2
Total Parking 6
Parking Features Attached, Garage
Attached Garage Yes
Exterior & Lot
Lot Features Landscaped, Sprinklers In Front, Sprinklers In Rear
Construction Stone
Roof Composition, Pitched
Foundation Crawl Space
Utilities & Systems
Heating Forced Air, Natural Gas
Financial
Annual Tax $7,194
Schools
Elementary School Zephyr Cove
Middle School Whittell High School - Grades 7 + 8
High School Whittell - Grades 9-12
📊

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 — 359 Summit Drive, Stateline

Est. Annual Revenue
$68,887
Avg Nightly Rate
$389
Projected Occupancy
48.6%
Cap Rate
1.4%
Structural Score: 61 / 100 (Premium) · STR Zone: Yellow

Based on comparable vacation rental performance data for Stateline. Revenue projections are estimates and may vary.

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Over coverage limit
3,597 sq ft covered of 3,252 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
16,259 sq ft
Allowed Coverage
3,252 sq ft · 20%
Existing Coverage
3,597 sq ft · 22%
Addable Coverage
0 sq ft
Existing Units
1

TRPA caps how much of each Tahoe Basin parcel can be covered by impervious surfaces — buildings, driveways, decks. Estimated coverage — data: TRPA GIS / Tahoe Open Data. The only authoritative determination of coverage and land capability is a Land Capability Verification through TRPA; actual allowable coverage can differ due to verifications, transfers, banked coverage, or deed restrictions.

TRPA parcel fact sheet ↗

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% ($395,000)
Home price
$1,975,000
Loan details
30-yr fixed, 6.5%
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