$1,998,000 Active
12671 Muhlebach Way
Truckee, CA 96161
⚠ STR Permit Cap Reached
Town of Truckee STR permit cap has been reached. 1-year waiting period after purchase before you can apply. Verify current waitlist status before buying.
4 Beds
·
4.0 Baths
·
2,912 Sq Ft

About This Property

Open houses! Friday 3-6pm, Saturday 10-5pm, Sunday 10-1pm--- Elevated Living in Tahoe Donner! From Mt. Rose to Tinker’s Knob, the Sierra stretches across the horizon from this custom home, with expansive mountain views framed through windows throughout the house. Designed by Kurt Reinkens and built by Cotton Construction, the 2,912 square foot residence was thoughtfully sited to take full advantage of its surroundings. Clean architectural lines, warm natural materials and multiple decks create a home that feels connected to the landscape from nearly every level. The main living area is where the architecture and views really come together. A dramatic vaulted wood ceiling rises above the space, while extensive windows bring in natural light and open the room to the mountains beyond. Hardwood floors add warmth, a fireplace anchors the living room, and sliding doors lead directly to a large deck where the view becomes even more impressive. The adjacent dining area shares the same outlook, creating a natural gathering place with the Sierra as its backdrop. The kitchen is comfortably connected to the main living spaces and features granite countertops, stainless steel appliances and plenty of room to work. The open arrangement allows the kitchen, dining and living areas to function together while each retains its own sense of space. Four bedrooms and four bathrooms are arranged across multiple levels, providing flexibility and separation when the house is full. The primary suite has a character all its own, with hardwood floors, a fireplace and private deck overlooking the surrounding landscape. Additional bedrooms are generously sized with convenient access to bathrooms, and the upstairs loft adds another flexible space above the main living area. Downstairs, a family room with wet bar creates a second place to gather and can also serve as the fourth bedroom. The outdoor spaces offer another side of the property. Multiple decks provide different vantage points for enjoying the mountain views, while the landscaped backyard feels more intimate beneath the trees. Stonework, mature landscaping, a pond and waterfall create a peaceful garden setting, with a stone patio providing a natural place to spend time outside. What makes this home memorable is not simply the view, but the way the house was designed around it. The architecture follows the site rather than competing with it, creating sight lines to the mountains, connections to the decks and outdoor spaces, and a sense of the surrounding Sierra throughout the home. Distinctive architecture, far reaching views, flexible living spaces and beautifully established grounds come together in a home that feels unmistakably Tahoe.

Listed by Val Videgain — Coldwell Banker Realty

Listing Details

Status Active
MLS # 20261855
Days on Market 3
Price/Sq Ft $686

Property History

Sep 03, 2026
Listed for sale
$1,998,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Jun 2017 · county record $1,145,000 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; rows marked via a listing site fill the years the feed misses using that site's public sale record.

Property Overview
Beds 4
Baths 4.0
Sq. Ft. 2,912
Lot Size 0.45 acres
Year Built 1994
Property Type Single Family Residence
Style Mountain
Subdivision Tahoe Donner
County Placer
STR Jurisdiction Town of Truckee
APN 045550004000
Parking
Garage Spaces 2
Parking Features Two, Attached, Insulated, Garage Door Opener, Oversized
Attached Garage Yes
Exterior & Lot
Lot Features Greenbelt, Landscaped
View Lake, Panoramic, Mountain(s), Ski Resort
Construction Frame, Wood Siding
Roof Metal
Foundation Concrete Perimeter
Utilities & Systems
Heating Natural Gas, CFAH
Financial
HOA Fee $3,621 / Annually
HOA & Community
Community Amenities Beach Access, Pool, Tennis Court(s), Golf Course, Equestrian Center, Cross Country Skiing, Down Hill Skiing, Exercise Equipment, Boat Ramp
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STR Investment Analysis

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

STR Investment Analysis

Red Zone
STRUCTURAL SCORE Premium
60
PROJECTED GROSS ANNUAL REVENUE
$50K – $100K typically ~$70,000
~$5,833 per month
Avg Nightly
$400
Occupancy
48%
Cap Rate
1.4%

STR Investment Summary — 12671 Muhlebach Way, Truckee

No revenue projection. Short-term rental permits are not currently obtainable here — the local jurisdiction has reached its permit cap or is waitlisting all new applications.
Est. Gross Annual Revenue
$50K – $100K
typically ~$70,000
Avg Nightly Rate
$400
Projected Occupancy
47.9%
Cap Rate
1.4%
Structural Score: 60 / 100 (Premium) · STR Zone: Red

Based on comparable vacation rental performance data for Truckee. 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.

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% ($399,600)
Home price
$1,998,000
Loan details
30-yr fixed, 6.5%
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