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36 Penny Ln, Las Vegas, NM, 87701

6beds
5baths
3,446sqft
$898,000
$261price/sqft
$7,409/moest. monthly cost
$296,360/yrincome needed

About This Home

Tara Ranch is a substantially built Northern New Mexico ranch property offering privacy, scale, and exceptional equestrian improvements on 20 fully fenced, mostly flat acres. From the gated entrance, a beautiful quarter-mile private driveway leads to the 3,400+square-foot main home and the impressive barn. Built in 2006, the one-level home features 12-foot ceilings, diamond-finish walls, arches, and large beams throughout, creating a spacious feel with oversized rooms and generous living areas. The open main living, dining, and kitchen spaces take in magnificent views and connect easily to a covered portal for outdoor dining, grilling, and enjoying the landscape. The chef’s kitchen is well equipped with two ovens, a large gas cooktop with griddle, two sinks, wild stone granite counters, stainless steel appliances, large pantry, and abundant cabinetry. The layout is practical and comfortable, with the primary suite, office or media room, and one guest bedroom on the west wing, while two additional bedrooms and a Jack-and-Jill bath are on the east wing. The heated 3+ car garage, radiant floor heat, fenced backyard, updated boiler in 2024, hot water heater in 2022, private well, and water softener add everyday function and value. Completed in 2025, the state-of-the-art 6-stall Barn Pros equestrian facility includes rubber flooring, tack room, workshop, hay storage, wash area, fenced 45x60 corral, RV covered parking, and a 1,600-square-foot apartment above. Surrounded on three sides by a 2,500-acre private ranch, with sweeping Hermit’s Peak views and easy access to riding trails, Tara Ranch is well situated for access to Santa Fe and Las Vegas NM.

Getting Around

0
WalkingCar-Dependent
0
TransitVery Limited Transit
8
BikeSomewhat Bikeable

Schools

1/10
W Las Vegas Middle SchoolGrades 6-810.2 mi
3/10
W Las Vegas High SchoolGrades 9-1210.1 mi

Construction

Condition

  • Year built: 2006

Materials

  • Foundation: Slab
  • Roof: Metal,Propanel
  • Construction materials: Frame,Stucco

Type & Style

  • Home type: SingleFamily
  • Architectural style: Northern New Mexico

Interior

Appliances

  • Appliances included: Dishwasher,Microwave,Range Hood,Built-In Range,Free-Standing Range,Refrigerator,Oven,Washer,Wine Refrigerator

Bedrooms & Bathrooms

  • Bedrooms: 6
  • Bathrooms: 5
  • Full bathrooms: 4
  • 1/2 bathrooms: 1

Features

  • Ceiling Fan(s),Pantry,Walk-In Closet(s),Vaulted Ceiling(s)
  • Window features: Blinds,Skylight(s)
  • Flooring: Carpet,Wood,Concrete
  • Number of fireplaces: 2
  • Fireplace features: Wood Burning Stove,Pellet Stove
  • Fireplace: Yes

Heating

  • Heating features: Propane,Radiant,Wood Stove

Interior Area

  • Total structure area: 3,446
  • Total interior livable area: 3,446 sqft

Master Bathroom

  • Features: Double Sinks, Separate Shower

Property

Details

  • Parcel number: R0658182

Features

  • Levels: One
  • Stories: 1
  • Patio & porch: Patio Covered
  • Has spa: Yes
  • Spa features: Bath
  • Fencing: Wire,Fenced
  • Horses can be raised: Yes

Lot

  • Lot size: 20 Acres

Parking

  • Total spaces: 3
  • Parking features: Attached,Garage Door Opener,RV Access/Parking
  • Has garage: Yes
  • Attached garage spaces: 3
  • Covered spaces: 3

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Inland Flooding
    Inland FloodingRelatively High
  • Wildfire
    WildfireRelatively High
  • Winter Weather
    Winter WeatherRelatively High
  • Lightning
    LightningModerate

How This Home’s Risks Compare

Inland Flooding
Wildfire
Winter Weather
Lightning

FEMA Declared Disasters in San Miguel County and New Mexico

Fire
Flood
Mud Landslide
Severe Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $4,540$54,480
Home Insurance *$761$9,132
Property Taxes $1,863$22,356
Electricity $245$2,940
Total$7,409$88,908
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$254,022/yr
40% on housing$222,270/yr
45% on housing$197,573/yr

New Mexico FAIR Plan Programs

New Mexico Property Insurance Program

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 7,506Commercial: 306
Total Premiums$5.96M
Total Exposure$950.67M

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 10.0%
10.0%
0%30.0%
Electricity Growth Rate10-year average: 2.0%
2.0%
0%15.0%
Property Taxes Growth Rate2-year average: 5.8%
5.8%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$261This listing

vs Other Active Listings

Avg $/sqft

ZIP 87701$147
San Miguel County$179

vs Homes Sold Last Month

Median $/sqft

ZIP 87701$149
San Miguel County$215

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-03-30Listed for sale$898,000
2026-03-09Listing removed$895,000
2026-02-26Price change$895,000
2026-02-19Price change$1,050,000
2025-10-09Price change$1,100,000
2025-08-12Price change$1,115,000
2025-06-16Price change$1,125,000
2025-05-27Price change$1,185,000
2025-05-09Price change$1,240,000
2025-04-11Listed for sale$1,260,000
2024-11-09Listing removed$1,180,000
2024-10-25Listed for sale$1,180,000
2022-08-24Sold--
2022-07-18Pending sale$724,900
2022-05-11Listed for sale$724,900
2022-04-27Pending sale$724,900
2022-04-07Listed for sale$724,900

For Sale by Agent

AgentKurtis Quintana
BrokerageHome & Land Professionals

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