$3,995,000 $4,350,000 ↓ $355,000 reduced Active
11 Kelly Circle
Glenbrook, NV 89413
✓ 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
·
4.5 Baths
·
4,229 Sq Ft

About This Property

Nestled within the private, gated, waterfront community of Uppaway Estates in Glenbrook, Nevada, this light-filled residence offers the ideal blend of modern luxury and classic mountain style. Built in 1994, the home is equally suited for entertaining large groups or enjoying quiet solitude. Experience the home's unique "treehouse" ambiance, with the kitchen, dining, living, and family rooms all looking through dramatic two-story cathedral windows into the surrounding forest. In winter, stay cozy beside the fireplace on chilly evenings. This open floor plan combines craftsmanship, comfort, and convenience in one of the region's most exclusive enclaves. Positioned on Tahoe's sunny East Shore, Uppaway Estates features approximately 30 homes and provides residents with exceptional amenities, including a private tennis and pickleball court, a lakeside park with a fire pit, outdoor grilling and dining areas, a community pier with boat moorings, and storage for kayaks and paddleboards. It is the perfect setting to enjoy Tahoe's panoramic views and spectacular Sierra sunsets with family and friends. Every bedroom is en suite, with three bedrooms and a den located on the ground level. The home showcases vaulted ceilings on the second floor, an open and airy floor plan, southern and western exposures, and expansive windows that fill each room with natural light while framing views of the surrounding trees. The primary suite features vaulted ceilings, a spacious shower, a jetted soaking tub, and serene forest views. Designed for both entertaining and everyday living, the spacious kitchen accommodates multiple chefs and includes double ovens, both gas and electric cooktops, a built-in refrigerator, dishwasher, and microwave. Enjoy Tahoe's outdoor lifestyle from either the backyard or the south-facing deck, where a spa tub is nestled beneath towering trees—ideal for relaxing under the stars. Located within 20 minutes of world-class skiing, fine dining, entertainment, gaming, and shopping, and offering convenient access to both international and private airports, Tahoe is just a scenic 3½-hour drive from the San Francisco Bay Area and California Wine Country. As an added benefit, Nevada residents enjoy numerous personal and business tax advantages.

Listed by Susan Clemons — Chase International -Glenbrook

Listing Details

Status Active
MLS # 260006923
Days on Market 85
Price/Sq Ft $945

Property History

May 31, 2026
Listed for sale
$4,350,000
Jul 17, 2026
Price reduced
$4,095,000 $4,350,000 ↓ $255,000
Jul 31, 2026
Price reduced
$3,995,000 $4,095,000 ↓ $100,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Mar 2020 · county record $327,736 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 4.5
Sq. Ft. 4,229
Lot Size 0.16 acres
Stories 2
Year Built 1994
Property Type Single Family Residence
Subdivision Uppaway
County Douglas
STR Jurisdiction Douglas County
APN 1418-15-511-016
Parking
Garage Spaces 2
Total Parking 2
Parking Features Additional Parking, Attached, Garage, Garage Door Opener, Heated Driveway
Attached Garage Yes
Exterior & Lot
Exterior Features Balcony, None
Lot Features Common Area, Gentle Sloping, Landscaped, Level, Sprinklers In Front, Sprinklers In Rear, Wooded
View Trees/Woods
Construction Stone
Roof Pitched, Tile
Foundation Crawl Space, Full Perimeter, Pillar/Post/Pier
Utilities & Systems
Heating Fireplace(s), Propane, Radiant Floor
Water Source Lake Tahoe
Financial
Annual Tax $10,623
HOA Fee $1,000 / Quarterly
HOA / Community Uppaway Estates
Schools
Elementary School Zephyr Cove
Middle School Whittell High School - Grades 7 + 8
High School Whittell - Grades 9-12
HOA & Community
Community Amenities Barbecue, Gated, Landscaping, Management, Parking, Tennis Court(s)
📊

STR Investment Analysis

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

STR Investment Analysis

Yellow Zone
STRUCTURAL SCORE Premium
63
PROJECTED GROSS ANNUAL REVENUE
$133K – $213K typically ~$170,703
~$14,225 per month
Avg Nightly
$1459
Occupancy
32%
Cap Rate
1.7%

STR Investment Summary — 11 Kelly Circle, Glenbrook

Est. Gross Annual Revenue
$133K – $213K
typically ~$170,703
Avg Nightly Rate
$1459
Projected Occupancy
32.0%
Cap Rate
1.7%
Structural Score: 63 / 100 (Premium) · STR Zone: Yellow

Based on comparable vacation rental performance data for Glenbrook. Gross of management, cleaning and platform fees. Assumes full-year availability, professional management and dynamic pricing; owner use reduces it. Revenue projections are estimates and may vary.

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Over coverage limit
3,760 sq ft covered of 1,375 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
6,876 sq ft
Allowed Coverage
1,375 sq ft · 20%
Existing Coverage
3,760 sq ft · 55%
Addable Coverage
0 sq ft
IPES Score
949.0
Land Capability · TRPA-verified
6
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% ($799,000)
Home price
$3,995,000
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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