




36 Penny Ln, Las Vegas, NM, 87701
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
Schools
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
- Wildfire
- Winter Weather
- Lightning
How This Home’s Risks Compare
FEMA Declared Disasters in San Miguel County and New Mexico
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
| Monthly | Annual | |
|---|---|---|
| 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 |
Income You'd Need if You Spent...
New Mexico FAIR Plan Programs
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.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-03-30 | Listed for sale | $898,000 |
| 2026-03-09 | Listing removed | $895,000 |
| 2026-02-26 | Price change | $895,000 |
| 2026-02-19 | Price change | $1,050,000 |
| 2025-10-09 | Price change | $1,100,000 |
| 2025-08-12 | Price change | $1,115,000 |
| 2025-06-16 | Price change | $1,125,000 |
| 2025-05-27 | Price change | $1,185,000 |
| 2025-05-09 | Price change | $1,240,000 |
| 2025-04-11 | Listed for sale | $1,260,000 |
| 2024-11-09 | Listing removed | $1,180,000 |
| 2024-10-25 | Listed for sale | $1,180,000 |
| 2022-08-24 | Sold | -- |
| 2022-07-18 | Pending sale | $724,900 |
| 2022-05-11 | Listed for sale | $724,900 |
| 2022-04-27 | Pending sale | $724,900 |
| 2022-04-07 | Listed for sale | $724,900 |
