$10,995,000 Active
120 State Route 28 # 47
Crystal Bay, NV 89402
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.
4 Beds
·
4.5 Baths
·
4,020 Sq Ft

About This Property

Widely regarded as the premier residence within Stillwater Cove, this meticulously reimagined 4,000+ sq ft, 4-bedroom end-unit was taken to the studs and rebuilt under renowned contractor Peter Angella to an uncompromising standard. Wide-plank hardwood floors, full Miele appliance suite with built-in coffee machine, wine refrigerator, warming drawer and double ovens, in-floor hydronic heat, fully air conditioned, and a Generac backup battery system. The open-concept main level features astriking black marble gas fireplace, floating staircase adorned with cascading galaxy light fixtures, and backlit acoustical panels — plus a television that slides from behind the fireplace. The expanded deck includes built-in ceiling heaters. The primary suite frames panoramic lake views with a spa-inspired bath, rain shower and soaking tub. Lower level offers a bedroom suite with wet bar and private deck, plus a bonus room, wine cellar, and generous storage. Set within Crystal Bay's exclusive 47-unit, 24-acre Stillwater Cove community — the North Shore's premier lakefront resort — amenities include a full-service marina, buoy field, sandy beach, pool, tennis, fitness center, private restaurant, and 24/7 onsite management. Buoys and boat slips subject to availability.

Listed by William Dietz — Tahoe Luxury Properties

Listing Details

Status Active
MLS # 260006008
Price/Sq Ft $2,735

Property History

May 13, 2026
Listed for sale
$10,995,000
Property Overview
Beds 4
Baths 4.5
Sq. Ft. 4,020
Stories 3
Year Built 1980
Property Type Townhouse
Subdivision Stillwater Cove
County Washoe
STR Jurisdiction Washoe County
APN 123-271-01
Parking
Total Parking 1
Parking Features Additional Parking, Detached
Exterior & Lot
Exterior Features Balcony
View Mountain(s)
Roof Composition
Foundation Crawl Space
Utilities & Systems
Heating Hot Water, Radiant
Cooling Electric
Financial
Annual Tax $22,578
HOA Fee $14,892 / Quarterly
HOA / Community Stillwater Cove
Schools
Elementary School Incline
Middle School Incline Village
High School Incline Village
HOA & Community
Community Amenities Fitness Center, Gated, Parking, Pool, Sauna, Shuttle Service, Spa/Hot Tub
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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%

STR Investment Summary — 120 State Route 28 # 47, Crystal Bay

Est. Annual Revenue
$457,470
Avg Nightly Rate
$3910
Projected Occupancy
32.0%
Cap Rate
1.7%
Structural Score: 57 / 100 (Premium) · STR Zone: Green

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

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% ($2,199,000)
Home price
$10,995,000
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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