$3,950,000 $4,450,000 ↓ $500,000 reduced Active
396 Sherwood 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.
5 Beds
·
5.0 Baths
·
4,604 Sq Ft

About This Property

Experience refined mountain luxury at 396 Sherwood Drive, a fully renovated 5-bedroom, 5-bathroom residence spanning 4,600 square feet in the prestigious Mid-Kingsbury neighborhood. Perfectly positioned to capture unobstructed, panoramic views of Lake Tahoe, this exceptional home blends contemporary elegance with timeless alpine warmth. At the heart of the home, a designer chef's kitchen showcases a grand island overlooking the lake, ideal for both elevated entertaining and relaxed family living. Expansive open-concept living and dining areas flow seamlessly to a spectacular 1,500-square-foot lakeview deck, offering the ultimate in indoor-outdoor living and breathtaking sunset panoramas. The home features two spacious living rooms—one designed to take full advantage of the lake views, the other offering a cozy, private retreat perfect for movie nights or gatherings. Every detail reflects thoughtful craftsmanship and modern sophistication throughout. An oversized two-car garage provides ample storage for vehicles and Tahoe toys, while multiple en suite bedrooms ensure comfort and privacy for family and guests alike. Ideally located just 3 miles from the Nevada side of Heavenly Ski Resort and 2 miles from the casinos and South Lake Tahoe's vibrant nightlife and dining, this home offers both tranquility and convenience. Discover privacy, elegance, and awe-inspiring natural beauty from one of Kingsbury's most desirable addresses. At 396 Sherwood Drive, every day feels like a private retreat above the crystal waters of Lake Tahoe.

Listed by Jana Bednar — Chase International - ZC

Listing Details

Status Active
MLS # 250058133
Days on Market 252
Price/Sq Ft $858

Property History

Nov 12, 2025
Listed for sale
$3,950,000
Jul 06, 2026
Price changed
$3,950,000
Property Overview
Beds 5
Baths 5.0
Sq. Ft. 4,604
Lot Size 0.30 acres
Stories 3
Year Built 1977
Property Type Single Family Residence
Subdivision Lakewood Knolls
County Douglas
STR Jurisdiction Douglas County
APN 1318-23-710-097
Parking
Garage Spaces 2
Total Parking 6
Parking Features Garage, RV Access/Parking
Attached Garage Yes
Exterior & Lot
Exterior Features Dog Run, Rain Gutters
View Mountain(s), Ski Resort
Construction Cedar
Roof Composition
Foundation Concrete Perimeter
Financial
Annual Tax $6,457
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 — 396 Sherwood Drive, Stateline

Est. Annual Revenue
$189,306
Avg Nightly Rate
$1618
Projected Occupancy
32.0%
Cap Rate
1.9%
Structural Score: 76 / 100 (Luxury) · 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
4,161 sq ft covered of 2,595 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
12,973 sq ft
Allowed Coverage
2,595 sq ft · 20%
Existing Coverage
4,161 sq ft · 32%
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. Figures come from TRPA's public parcel data and are estimates; verify before relying on them for a build or purchase.

Verify on Tahoe Info ↗

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% ($790,000)
Home price
$3,950,000
Loan details
30-yr fixed, 6.5%
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