Live, Work, & Earn at this Magical Restored Compound with Commercial Frontage in Peñasco ~ 14197 NM-150 isn't just a home; it's the investment of a lifetime; two distinct residences that can be connected as one, with a road front gallery space ready to go for immediate income. The location offers the idyllic New Mexico lifestyle and the property has immediate built in income generating potential. The upstairs welcomes you into a charming 2,000+ sqft haven, containing a spacious living room with gleaming oak wood floors, a light-filled open-concept kitchen, and an inviting dining area, kept comfortable by recently installed mini splits that provide the perfect temperature (heating & cooling) all throughout the year. Two wood burning wood stoves and a sunroom provides additional warmth and coziness on cold winter days. For the aspiring artist, craftsperson, shop owner and so forth, the attached studio at the front of the residence near the famous highway could easily become your commercial space or art gallery, generating even more income. The residence is being listed well below a recent appraised value of $530k as of June 18th, 2025. Downstairs is an immaculate and generously sized 1400 sq ft two-bedroom apartment. This connected or self-contained unit boasts an open-concept kitchen with authentic Saltillo floors, a highly functional kitchen with custom cabinetry, and an open living room kept cozy by the stone fireplace. Each unit has its own private washer & dryer. With its proven track record as a highly-rated Airbnb and being offered fully furnished, the short-term or long-term rental possibilities are truly remarkable. The property even features a hot tub among poppies blooming in the springtime. The traditional root cellar for storing all your canned goods is a special feature of the property, as is the fully powered and highly functional detached workshop ready to go for a number of hobbies, extra storage, or yet another income stream. There is an established animal pen with a chicken coop out front and succession of perennials blooming throughout the warm season in the gardens. Nestled in the charming village of Peñasco, you’re steps away from local favorites like Sugar Nymphs restaurant and the Peñasco Performing Arts Theater. Outdoor adventures abound with Sipapu Ski Resort, Santa Barbara Campground, Dixon Cooperative Market, and renowned wineries like Chiripada and Vivac all nearby. This is truly a must-see opportunity to own a versatile, income-generating property in the heart of Northern New Mexico. Don't let this one slip through the cracks!
Rare adobe homestead with water rights in the heart of the Peñasco Valley. Set on 1 private acre at the end of Roybal Road, this authentic Territorial-style home offers a combination that is increasingly difficult to find in Northern New Mexico: adobe construction, a private well, adjudicated irrigation water rights, usable land, and peaceful rural privacy. The 3-bedroom, 2-bath home was handcrafted in the traditional Northern New Mexico style, featuring thick adobe walls, reclaimed vigas and beams, and abundant natural light with southern exposure. A pitched metal roof installed in 2015 adds long-term durability and low-maintenance peace of mind. The land is well-suited for gardening, orchards, hobby farming, horses, or simply enjoying a more self-sufficient lifestyle. Expansive skies, natural drainage, and quiet surroundings create an ideal setting for outdoor living, creative retreat, or seasonal escape. Located along the scenic High Road to Taos, the property is approximately 40 minutes to Taos, 60 minutes to Santa Fe, 15 minutes to Sipapu Ski Area, and near the wineries and galleries of Dixon and surrounding mountain communities. A rare opportunity to own a true Northern New Mexico adobe with land, water, and room to breathe.
Penasco is located in New Mexico. Penasco, New Mexico has a population of 1,357. Penasco is less family-centric than the surrounding county with 10.71% of the households containing married families with children. The county average for households married with children is 14.47%.
The median household income in Penasco, New Mexico is $35,313. The median household income for the surrounding county is $49,481 compared to the national median of $69,021. The median age of people living in Penasco is 42.2 years.
The average high temperature in July is 83.3 degrees, with an average low temperature in January of 14.6 degrees. The average rainfall is approximately 17.3 inches per year, with 53.8 inches of snow per year.
