$4,195,000 Active
120 NV-28
Crystal Bay, NV 89402
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.
2 Beds
·
2.5 Baths
·
1,821 Sq Ft

About This Property

At the highest point within Stillwater Cove, Residence #24 commands elevated waterfront views across the northern edge of Lake Tahoe, framing Incline Village and Diamond Peak in the distance. From this vantage, the marina and shoreline sit below while mountain ridgelines rise beyond, creating a layered perspective that feels private and composed. This generously scaled two-bedroom is designed for year-round comfort, balancing gathering spaces upstairs with quiet retreat below. The main living area is anchored by a wood-burning fireplace and wrapped in rich Tahoe textures. Dark wood floors, warm tones, grass cloth walls, granite countertops, and custom built-ins give the home depth and presence. Subtle architectural detail in the ironwork reinforces the alpine aesthetic without competing with the view. The upper deck functions as a true outdoor dining area, oriented toward the same expansive water views. It reads as a natural extension of the great room, with lake and ridgeline as the backdrop. Downstairs, the primary suite offers its own fireplace and private patio overlooking the lake, along with a walk-in closet and oversized bath that enhance the sense of scale. The secondary bedroom features custom built-ins and generous proportions consistent with the home's footprint. A generous half bath for guests on the main floor. Full laundry room with dedicated storage supports practical, long-term use. Stillwater Cove is a gated lakefront enclave defined by privacy, architectural consistency, and resort-level amenities. Residents enjoy a private sandy beach, full-service marina with buoy field and gas dock, heated lakefront pool and spa, fitness center, tennis courts, and a seasonal lakeside restaurant. The grounds are professionally managed and meticulously maintained, setting this community apart from typical lakefront condominium offerings. With Nevada tax advantages and access to Incline Village recreation amenities, Residence #24 offers elevated lake living within one of North Lake Tahoe's most exclusive waterfront settings.

Listed by Camille Duvall — Sierra Sothebys International

Listing Details

Status Active
MLS # 260008236
Price/Sq Ft $2,304

Property History

Jun 26, 2026
Listed for sale
$4,195,000
Property Overview
Beds 2
Baths 2.5
Sq. Ft. 1,821
Lot Size 43.00 acres
Stories 2
Year Built 1980
Property Type Condominium
Subdivision Stillwater Cove
County Washoe
STR Jurisdiction Washoe County
APN 123-272-17
Parking
Garage Spaces 2
Total Parking 2
Parking Features Detached, Garage
Attached Garage Yes
Exterior & Lot
Exterior Features Balcony, Dog Run, Tennis Court(s)
Lot Features Landscaped, Sloped Up, Sprinklers In Front
View Mountain(s), Ski Resort
Construction Glass, Stone Veneer
Roof Composition
Foundation Crawl Space
Utilities & Systems
Heating Forced Air
Water Source Lake Tahoe
Financial
Annual Tax $7,218
HOA Fee $2,200 / Monthly
HOA / Community Stillwater Cove Home Owners Asso.
Schools
Elementary School Out of Area
Middle School Out Of Area
High School Out Of Area
HOA & Community
Community Amenities Fitness Center, Gated, Landscaping, Management, Parking, Pool, Security, Tennis Court(s)
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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 NV-28, Crystal Bay

Est. Annual Revenue
$215,397
Avg Nightly Rate
$1841
Projected Occupancy
32.0%
Cap Rate
2.1%
Structural Score: 59 / 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
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% ($839,000)
Home price
$4,195,000
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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