517 Lucille Dr · Incline Village, NV 89451

$149,000

3 bd · 2.0 ba · 1,826 sqft · SingleFamily public records · 218 Days on market

Built 1979 0.62 ac lot $82/sqft · 91% below area $417/mo HOA · 11% of rent

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * Shared Ownership Opportunity in Beautiful Incline Village, NV * * Experience luxury living at an affordable price with this rare opportunity in Incline Village, located on Lake Tahoe's North Shore. This turn-key vacation property allows you to enjoy your getaway without the hassle of maintenance or cleaning. The spacious house features three bedrooms, two full bathrooms, and 1,826 square feet of living space. It comfortably accommodates up to six people, making it ideal for family gatherings or gatherings with friends. Additionally, there is garage space for your recreational toys, creating an ideal retreat from daily life.

Key facts

• 0.62 acre lot
• 2 garage spots
• Built 1979

Tags

• TURN-KEY VACATION PROPERTY
• LAKE TAHOE'S NORTH SHORE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.5% vs local median 1.0% in Incline Village — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 60/100 on livability (#80 in NV) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Washoe County School District (urban): math 30% / reading 44% proficiency, ranked #6 of 17 in NV (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 186 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 4,085 units permitted in Washoe County in 2024 (1,634 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Washoe County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 218 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $96k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $78k; list at $149k implies a 90% gain — meaningful room to come down on a strong offer.

Recommended offer $131,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 218 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.62% ✓
• Cap rate: 19.46%
• Cash-on-cash: 47.02%
• DSCR: 3.09
• GRM: 3.2

CMA / ARV

• ARV (median comp): $1,621,493
• List price: $149,000
• Delta: -90.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
547 Lucille Dr	0.12mi	3/2.5	1,840 (+1%)	12mo	$1,650,000	$897	81
701 Tyner Way	0.25mi	3/2.5	1,728 (-5%)	1mo	$1,800,000	$1,042	77
840 Northwood Blvd	0.27mi	3/2.5	1,911 (+5%)	10mo	$1,375,000	$720	69
855 Mccourry Blvd	0.29mi	3/2.5	1,911 (+5%)	12mo	$1,485,000	$777	66
554 Mcdonald Dr	0.29mi	3/2.5	1,656 (-9%)	9mo	$1,600,000	$966	62
568 Lucille	0.26mi	3/2.5	1,656 (-9%)	20mo	$1,487,500	$898	54
929 Northwood Blvd #104	0.73mi	3/3.0	1,793 (-2%)	9mo	$1,475,000	$823	52
867 Tyner Way	0.42mi	3/2.5	1,560 (-15%)	6mo	$2,000,000	$1,282	49
563 Village Blvd	0.50mi	3/2.0	1,642 (-10%)	14mo	$1,200,000	$731	49
590 N Dyer Cir	0.38mi	4/3.0 (+1)	2,080 (+14%)	6mo	$2,495,000	$1,200	44
781 Mays Blvd	0.69mi	4/2.5 (+1)	1,959 (+7%)	6mo	$2,270,000	$1,159	44
941 Dorcey Dr	0.74mi	3/2.0	1,624 (-11%)	17mo	$1,370,000	$844	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.05% rent growth · sell at horizon

5-year hold

• IRR: 40.5%
• Equity multiple: 2.65×
• Total profit: $69,032
• Equity at exit: $22,216

10-year hold

• IRR: 45.2%
• Equity multiple: 4.64×
• Total profit: $151,944
• Equity at exit: $12,883

Cash invested: $41,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 71 Landlord-Friendly
• State Nevada: 71 Landlord-Friendly · R+1
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; Clark County (Vegas) had pandemic backlogs; generally landlord-friendly but courts slow.

Methodology + full state rankings →

ZIP-level market 89451

• Rents YoY: 0.1%
• Active inventory: 186
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $3,900 medium
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$417
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $1,635

Break-even live

Break-even rent $1,831

Max offer price $149,000

Occupancy floor 53%

Sensitivity live

Price	-10% $1,738	-5% $1,686	+0% $1,635	+5% $1,583	+10% $1,532
Rent	-10% $1,326	-5% $1,481	+0% $1,635	+5% $1,789	+10% $1,943
Rate	-1.0pp $1,710	-0.5pp $1,672	base $1,635	+0.5pp $1,596	+1.0pp $1,557

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
696 Village Blvd #3 Incline Village, NV	2.0	2.0	1672	$3,600	$2.15	45d	1	0.98mi

HOA detail

• Monthly dues: $417 · $5,004/yr

Listing history 26 events

1. 2026-06-18
   days on market $149,000 Active 218 DOM
2. 2026-06-17
   days on market $149,000 Active 217 DOM
3. 2026-06-16
   days on market $149,000 Active 216 DOM
4. 2026-06-15
   days on market $149,000 Active 215 DOM
5. 2026-06-14
   days on market $149,000 Active 213 DOM
6. 2026-06-10
   days on market $149,000 Active 210 DOM
7. 2026-06-09
   days on market $149,000 Active 209 DOM
8. 2026-06-08
   days on market $149,000 Active 208 DOM
9. 2026-06-07
   days on market $149,000 Active 207 DOM
10. 2026-06-05
    days on market $149,000 Active 204 DOM
11. 2026-06-03
    days on market $149,000 Active 203 DOM
12. 2026-06-02
    days on market $149,000 Active 202 DOM
13. 2026-06-01
    days on market $149,000 Active 201 DOM
14. 2026-05-31
    days on market $149,000 Active 200 DOM
15. 2026-05-30
    days on market $149,000 Active 199 DOM
16. 2026-02-05
    price $179,000 641-char remark

    Show marketing remark (641 chars)

    * * Shared Ownership Opportunity in Beautiful Incline Village, NV * * Experience luxury living at an affordable price with this rare opportunity in Incline Village, located on Lake Tahoe's North Shore. This turn-key vacation property allows you to enjoy your getaway without the hassle of maintenance or cleaning. The spacious house features three bedrooms, two full bathrooms, and 1,826 square feet of living space. It comfortably accommodates up to six people, making it ideal for family gatherings or gatherings with friends. Additionally, there is garage space for your recreational toys, creating an ideal retreat from daily life.

17. 2025-11-10
    listed $245,000 Active 641-char remark

    Show marketing remark (641 chars)

    * * Shared Ownership Opportunity in Beautiful Incline Village, NV * * Experience luxury living at an affordable price with this rare opportunity in Incline Village, located on Lake Tahoe's North Shore. This turn-key vacation property allows you to enjoy your getaway without the hassle of maintenance or cleaning. The spacious house features three bedrooms, two full bathrooms, and 1,826 square feet of living space. It comfortably accommodates up to six people, making it ideal for family gatherings or gatherings with friends. Additionally, there is garage space for your recreational toys, creating an ideal retreat from daily life.

18. 2025-04-03
    price $245,000
19. 2024-11-08
    listed $250,000 Active
20. 2020-11-13
    soldstatus $78,500
21. 2016-12-28
    soldstatus $65,000
22. 2014-02-13
    soldstatus $55,000
23. 2013-01-18
    soldstatus $53,500
24. 2006-04-05
    soldstatus $65,000
25. 1999-09-15
    soldstatus $24,500
26. 1981-01-01
    soldstatus $160,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 10 d/yr ≥84°F today · 27 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,804
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$3,744
• − Management: −$3,744
• − HOA: −$5,004
• − Depreciation: −$4,335
• Taxable income: $18,651
• Est. tax owed @ 24.0%: −$4,476
• After-tax cash flow: $15,139/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Washoe County School District
• NCES district ID: 3200480
• Math proficiency: 30% ▼ -9.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $55,025
• Composite: 32.44/100
• National rank: #5721
• State rank: #6 of 17 in NV

Livability — Incline Village

• Score: 60/100
• State rank: #80
• US rank: #19586

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing C Health & safety F User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Incline Village, NV
• County: Washoe County · 454,252 people
• City population: 9,285
• Metro: Reno, NV
• Population (ZIP): 9,285
• Household income: $166,509
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 228.0

Population outlook (Washoe County) Hauer SSP2

• Today (2025): 499,260 people
• By 2030: 523,429 · +4.8%
• By 2040: 564,420 · +13.1%
• By 2050: 595,548 · +19.3%
• By 2075: 652,375 · +30.7%
• By 2100: 661,518 · +32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 20% Two or more races 14% Asian 2%
• Hispanic origin (detail): Mexican 16% Cuban 1%
• Common ancestry: Italian 6% Slovak 5% Lithuanian 3%
• Foreign-born: 14% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 16% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Washoe

• 2024 margin: Toss-up / Even · D 49.3% · R 48.3% · Other 2.4%
• 2008→2024 swing: -11.7pp toward R · 2008: 12.7pp · 2024: 1.0pp
• All cycles: 2024: D+1.0 2020: D+4.5 2016: D+1.2 2012: D+3.6 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -546.00%
• Current HPI: 315.7148
• Rent YoY: ▬ 0.05%
• Metro: Reno, NV
• State GDP YoY: ▲ 3.08%
• F500 in state: 6

Industry mix (Fortune 500 HQ in NV)

Industry	F500 HQs	Revenue
▸Hotels / Casinos	3	$36B

Price history

+11.9% since first listed

11 events — show timeline

• 2026-02-05 Price Changed $179,000 IVRMLS
• 2025-11-10 Listed $245,000 IVRMLS
• 2025-04-03 Price Changed $245,000 IVRMLS
• 2024-11-08 Listed $250,000 IVRMLS
• 2020-11-13 Sold (Public Records) $78,500 Public Records
• 2016-12-28 Sold (Public Records) $65,000 Public Records
• 2014-02-13 Sold (Public Records) $55,000 Public Records
• 2013-01-18 Sold (Public Records) $53,500 Public Records
• 2006-04-05 Sold (Public Records) $65,000 Public Records
• 1999-09-15 Sold (Public Records) $24,500 Public Records
• 1981-01-01 Sold (Public Records) $160,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $8,689 · +20.3% YoY. Source: county tax records.