$275,000 $280,000 ↓ $5,000 reduced Active Under Contract
40 Myrtlewood Circle
Reno, NV 89511
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.

About This Property

Build your dream home in the beautiful and highly sought-after Galena Forest Estates now offered at an improved price. This rare half-acre homesite is surrounded by towering pines, mountain scenery, and the peaceful setting that makes Galena one of Reno's most desirable custom-home communities. Seller financing is available with a substantial down payment, offering a unique opportunity for buyers seeking flexible terms. Financing available at just 6% interest, making it easier to secure this exceptional property and begin building your custom mountain retreat. Enjoy nearby hiking and biking trails, easy access to Mt. Rose Highway, Lake Tahoe, and all the conveniences of South Reno while surrounded by nature. Included with the property are HOA-approved plans for a thoughtfully designed 2,800 square foot single-level custom home featuring three bedrooms, a dedicated home office, and an expansive open-concept floor plan created for both comfortable living and effortless entertaining. Whether hosting guests or relaxing on the back deck surrounded by nature, every detail has been carefully envisioned for your enjoyment. The hard work has already been completed for you. Engineering is complete, a septic plan is in place, and the building plans have been approved and are ready to go, providing a rare opportunity to fast-track construction of your dream home in one of Northern Nevada's most beautiful and established forest communities. Don't miss this chance to own a premium homesite in one of Northern Nevada's most scenic neighborhoods.

Listed by Jeanne Hill — LPT Realty, LLC

Listing Details

Status Active Under Contract
MLS # 260006357
Days on Market 109

Property History

May 20, 2026
Listed for sale
$280,000
Aug 11, 2026
Price reduced
$275,000 $280,000 ↓ $5,000
Aug 25, 2026
Pending
$275,000
Property Overview
Lot Size 0.48 acres
Property Type Land
Subdivision Galena Forest Estates 2E Phase 4
STR Jurisdiction Washoe County
APN 047-114-19
Exterior & Lot
Lot Features Cul-De-Sac, Level, Open Lot, Wooded
View Trees/Woods
Financial
Annual Tax $1,563
HOA Fee $330 / Annually
HOA / Community Gaston Wilkerson
Schools
Elementary School Hunsberger
Middle School Marce Herz
High School Galena
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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 GROSS ANNUAL REVENUE
$118K – $167K typically ~$142,500
~$11,875 per month
Avg Nightly
$485
Occupancy
68%
Cap Rate
5.2%

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% ($55,000)
Home price
$275,000
Loan details
30-yr fixed, 6.5%
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