Rare Pleasant Valley opportunity in South Reno on 2 usable acres with water rights and no HOA. 1,900 sq ft home featuring 3 bedrooms, 2 baths, and 3 car garage. Flat, usable acreage with room for horses, RVs, trailers, equipment, shop space, or future expansion. Enjoy quiet rural living with privacy, open space, and mountain and valley surroundings, all just minutes to Reno, shopping, dining, and everyday conveniences. Hard to find combination of land, location, and flexibility in one of South Reno's most desirable rural communities. Priced to reflect condition and sold as is. Strong opportunity for buyers ready to update, remodel, or personalize while building equity. Ideal for those seeking acreage, investment potential, or a long term hold in a high demand area. Existing home, land, and water rights provide a solid foundation for improvement, expansion, or future vision. Rare chance to create your own space with usable land and valuable water rights in Pleasant Valley. Properties with usable acreage, water rights, and no HOA in Pleasant Valley rarely come available.
Closed
$700,000
505 Rhodes Rd, Reno, NV 89521
3beds
1,900sqft
Single Family Residence
Built in 1940
2.01 Acres Lot
$698,800 Zestimate®
$368/sqft
$2,726 Estimated rent
Home value
$698,800
$643,000 - $762,000
$2,726/mo
Zestimate® history
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List your homeWhat's special
Flat usable acreageOpen spaceMountain and valley surroundings
Zillow last checked:
Listing updated:
Listed by:
Jodi Kruse S.169610 775-233-1190,
Sierra Sotheby's International
Bought with:
Jessica Hodges, B.145936
Real Broker LLC
Source: NNRMLS,MLS#: 260004186
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Oil
Appliances
- Included: Dishwasher, Double Oven, Electric Cooktop, Electric Oven, Electric Range, Self Cleaning Oven
- Laundry: Cabinets, Laundry Room, Sink, Washer Hookup
Features
- Breakfast Bar, Ceiling Fan(s), Entrance Foyer, Walk-In Closet(s)
- Flooring: Carpet, Laminate, Wood
- Windows: Single Pane Windows, Vinyl Frames
- Number of fireplaces: 1
- Fireplace features: Wood Burning
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 1,900
- Total interior livable area: 1,900 sqft
Property
Parking
- Total spaces: 3
- Parking features: Additional Parking, Detached, Garage, Garage Door Opener, RV Access/Parking
- Garage spaces: 3
Features
- Levels: One
- Stories: 1
- Exterior features: Dog Run
- Has spa: Yes
- Spa features: Above Ground
- Fencing: None
- Has view: Yes
- View description: Mountain(s), Trees/Woods, Valley
Lot
- Size: 2.01 Acres
- Features: Corner Lot, Gentle Sloping, Landscaped, Level, Other
Details
- Additional structures: Other
- Parcel number: 01740035
- Zoning: Lds
- Special conditions: Other
- Horses can be raised: Yes
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Stone
- Foundation: Concrete Perimeter, Crawl Space
- Roof: Shake
Condition
- New construction: No
- Year built: 1940
Utilities & green energy
- Sewer: Septic Tank
- Water: Private, Well
- Utilities for property: Cable Available, Electricity Available, Electricity Connected, Internet Available, Natural Gas Available, Phone Available, Cellular Coverage
Community & HOA
HOA
- Has HOA: No
Location
- Region: Reno
Financial & listing details
- Price per square foot: $368/sqft
- Tax assessed value: $228,807
- Annual tax amount: $1,957
- Date on market: 4/9/2026
- Cumulative days on market: 15 days
- Listing terms: 1031 Exchange,Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 4/24/2026 | Sold | $700,000+7.9%$368/sqft |
Source:  NNRMLS #260004186 Report a problem | ||
| 4/12/2026 | Contingent | $649,000$342/sqft |
Source: NNRMLS #260004186 Report a problem | ||
| 4/9/2026 | Listed for sale | $649,000$342/sqft |
Source: NNRMLS #260004186 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | $1,957 +3% | $80,082 +6.1% |
| 2025 | $1,901 +3% | $75,499 +9.3% |
| 2024 | $1,845 +3% | $69,050 +8.1% |
| 2023 | $1,792 +3% | $63,883 +14.8% |
| 2022 | $1,740 +3.1% | $55,625 +3% |
| 2021 | $1,688 +2.6% | $54,012 +6.5% |
| 2020 | $1,644 -2.6% | $50,723 |
| 2019 | $1,688 +2.6% | $50,723 +1.8% |
| 2018 | $1,644 +3.2% | $49,833 +0.7% |
| 2017 | $1,593 | $49,471 +0.1% |
| 2016 | $1,593 | $49,408 +0.8% |
| 2015 | $1,593 +2.4% | $49,013 +2.1% |
| 2014 | $1,555 | $47,997 +1.2% |
| 2013 | $1,555 | $47,421 |
| 2012 | -- | $47,421 -18.7% |
| 2011 | -- | $58,295 -5.6% |
| 2010 | -- | $61,762 -0.3% |
| 2009 | -- | $61,944 -11.4% |
| 2008 | -- | $69,882 -12% |
| 2007 | -- | $79,419 +82.4% |
| 2006 | -- | $43,534 +3.9% |
| 2005 | -- | $41,912 +2.6% |
| 2004 | -- | $40,852 -13.4% |
| 2003 | -- | $47,147 +0.4% |
| 2002 | -- | $46,964 |
| 2001 | -- | $46,964 |
Find assessor info on the county website
Neighborhood: Steamboat
Nearby homes
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Nearby schools
GreatSchools rating
- 8/10Pleasant Valley Elementary SchoolGrades: PK-5Distance: 2.8 mi
- 7/10Marce Herz Middle SchoolGrades: 6-8Distance: 3.7 mi
- 7/10Galena High SchoolGrades: 9-12Distance: 2.2 mi
Schools provided by the listing agent
- Elementary: Pleasant Valley
- Middle: Marce Herz
- High: Galena
Source: NNRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$698,800
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Estimated market value
$698,800
- Nevada
- Washoe County
- Reno
- 89521
- Steamboat
- 505 Rhodes Rd
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