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1948 Wagon Wheel Rd
About This Property
Designed for comfortable Colorado mountain living, the open-concept floor plan welcomes you with vaulted tongue-and-groove ceilings, durable LVP flooring, a cozy wood-burning stove, and expansive mountain views enjoyed from both the living room and covered front porch. The well-appointed kitchen offers granite countertops, a gas range, newer appliances, abundant cabinetry, and an adjoining mudroom for added functionality.
The spacious primary suite offers a walk-in closet and private ensuite bath, while two additional bedrooms provide flexibility for guests, a home office, or family.
One of the standout features of this property is the oversized detached garage. Complete with electricity, heat, and an existing bathroom, it's the perfect space for a workshop, hobby area, home gym, "man cave," or could even offer future conversion potential for additional living space or guest quarters.
Looking for room to grow? An adjacent subdivided 2.23-acre lot is also available for purchase, creating a rare opportunity for additional privacy, future expansion, investment, or resale.
Located in the highly desirable Ranch of the Rockies community, residents enjoy year-round maintained roads, central trash service, RV storage, horse facilities, and private community amenities, all while being less than 25 minutes from Buena Vista, Fairplay, reservoirs, hiking, fishing, ATV trails, and endless Colorado recreation.
Whether you're searching for a full-time residence, mountain getaway, or investment opportunity, this property delivers exceptional value, versatility, and the Colorado lifestyle buyers dream about.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Apr 23, 2026 | No longer available | - | |
| No longer available | |||
| Apr 22, 2026 | Listed | $599,999 | |
| Listed | |||
| Mar 26, 2026 | Listed | $659,000 | |
| Listed | |||
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New roof just completed-adding immediate value and peace of mind to this Colorado mountain retreat set on a serene 4.23 acres across two parcels. In addition to the primary homesite, the separately subdivided 2.23-acre lot creates a rare opportunity to build, sell, or hold for future value. Located in the sought-after Ranch of the Rockies, this 3-bedroom, 3-bath home captures sweeping mountain views, perfectly framed by a bay window in the living room. Inside, the open-concept layout offers a warm and inviting feel with vaulted tongue-and-groove ceilings, a cozy wood-burning stove, and durable LVP flooring throughout the main living areas. The kitchen blends function and style with granite countertops, a gas range, new appliances, and ample cabinetry, while a dedicated mudroom enhances everyday convenience. The spacious primary suite features a walk-in closet and private ensuite bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Step outside to the oversized covered deck-ideal for morning coffee, entertaining, or simply soaking in the expansive views and fresh alpine air. The detached 3-car garage provides exceptional versatility with electricity, heat, and offers the 3rd bathroom bathroom-perfect for a workshop, studio, or potential guest space. A storage shed adds extra room for gear, and the well supports irrigation, gardening, and even horses. Ranch of the Rockies residents enjoy year-round maintained roads, snow removal, trash service, RV storage, and horse facilities. Conveniently located just 25 minutes to Buena Vista and 35 minutes to Fairplay, with easy access to reservoirs, hiking, fishing, and endless outdoor recreation.
Preferred lender offering up to a $7,500 buyer credit. Opportunities like this-with acreage, flexibility, and views-don't come around often, making this one you won't want to miss.
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| Sep 28, 2025 | Relisted | $649,000 | |
| Relisted | |||
| Sep 20, 2025 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017