West Coast6.0% avg cap rate

Lake Tahoe, CA

Sierra Nevada jewel — premium dual-season mountain market

Lake Tahoe is one of the most high-value STR markets in the western US, offering world-class skiing at multiple resorts (Palisades Tahoe, Heavenly, Northstar) and a stunning alpine lake that drives summer demand equally as strong. North Shore and South Shore have distinct character — South Shore is higher volume and Vegas-adjacent; North Shore is quieter and luxury-oriented.

6.0%
Avg Cap Rate
Net operating income / price
63%
Avg Occupancy
Annual average
$625
Avg Nightly Rate
All property types
$980K
Median Price
STR-viable properties

Estimated Annual Performance

Gross rental revenue
63% occ × $625/night
$143,719
Est. operating expenses
Mgmt, cleaning, supplies, insurance (~40%)
– $57,488
Est. net operating income
Before mortgage & depreciation
$86,231
At median price
Implied cap rate
8.8%

* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.

Why Investors Choose Lake Tahoe

World-class skiing at 15+ resorts within 30 miles
Alpine lake creates genuine summer demand parity with ski season
Placer County and El Dorado County STR permit required
South Shore — higher volume; North Shore — higher ADR
Peak season: Dec – Mar (ski), July – Aug (lake)
Top property types: Cabin, Single Family, Condo, Lakefront Home
Primary zip: 96150, 96145, 96140, 96161

Market averages, not guarantees. Cap rates, occupancy, and nightly rates are market-wide averages based on active STR listings and historical data. Individual property performance depends on location, amenities, management, and listing quality. Always run a full underwriting analysis before purchasing.

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