271 Sheep Ridge Rd
About This Property
Mountain character meets modern comfort in this beautifully updated 4-bedroom, 3-bath home on 1.25 acres in the gated Warm Springs Ranch community. With 3,432 square feet of finished living space, beautiful mountain and valley views, and generous indoor and outdoor living areas, the home offers a compelling combination of space, privacy, and access to the Colorado outdoors.
The main level features an open living area with abundant natural light, hardwood floors, a gas fireplace, and access to both a private front porch and expansive back deck. The primary suite includes a five-piece bathroom, walk-in closet, and private deck access. Downstairs, a spacious second living area with a gas fireplace provides additional space for guests, recreation, or a home office, along with additional sleeping space.
Recent improvements include a remodeled lower-level bathroom, LVP flooring and paint (2024), septic improvements (2024), re-stoned fireplaces (2025), and a new roof, gutters, chimney work, and skylight (2026).
Warm Springs Ranch offers stocked fishing ponds, private hiking trails, a clubhouse, tennis and pickleball courts, and a gated entrance. National Forest and an abundance of hiking, biking, fishing, camping, hunting, and off-road recreation are nearby, while Fairplay, Buena Vista, and Summit County remain within convenient reach.
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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 |
|---|---|---|---|
| Oct 7, 2026 | Price Decreased |
$815,000
↓ $10K
(1.2%) | |
| Price Decreased | |||
| Aug 30, 2026 | Listed | $825,000 | |
| Listed | |||
| Nov 4, 2024 | Sold | ||
| Sold | |||
| Oct 4, 2024 | In contract | - | |
| In contract | |||
| Sep 11, 2024 | Price Decreased |
$564,000
↓ $25K
(4.2%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017