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New construction
  • $4,200,000

    331 Pine Lodge Rd, Capitan, NM 88316

    3beds
    2,500sqft
    : 
    Single Family Residence
    Built in 2023
    594 Acres Lot
    $-- Zestimate®
    $1,680/sqft
    $-- HOA

    What's special

    Perhaps one of the most sought after gentlemen's ranches in New Mexico. Nestled in a bowl of natural outcroppings, this ranch has the most stunning views of Sierra Blanca Mountain and the Capitan Mountains. This ranch is unique in the fact that it encompasses the Rancho De Caballos Subdivision in it's entirety and an additional 270 acres of ranch land. Also included in this package are two (2) brand new custom homes with the finest of finishes and upgrades. If that's not enough, there is a 180x300 pipe roping arena with return ally. This ranch offers a rare blend of stunning natural beauty, high quality improvements and the tremendous potential for livestock production, hunting, and recreation. Large mule deer bucks and B&C bull elk have been seen on this property.
    214 days
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    192
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    11
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    Zillow last checked:

    Listing updated:

    Listed by:

    Keli L. Cox 575-937-4616,

    Zia Real Estate 575-258-8656

    Source: RLCMLS,MLS#: 133164MLS LogoOriginating MLS: Ruidoso Lincoln County Association of REALTORS

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 3
      • Bathrooms: 4
      • Full bathrooms: 3
      • 1/2 bathrooms: 1
      Rooms
      • Room types: Dining Room, Family Room, Office
      Heating
      • Forced Air, Fireplace(s), Natural Gas
      Cooling
      • Central Air, Ceiling Fan(s)
      Appliances
      • Included: Bar Fridge, Convection Oven, Dryer, Dishwasher, Electric Range, Disposal, Microwave, Refrigerator, Stainless Steel Appliance(s), Wine Refrigerator
      Features
      • Breakfast Bar, Ceiling Fan(s), In-Law Floorplan, Primary Downstairs, Open Floorplan, Pantry, Recessed Lighting, Main Level Primary
      • Flooring: Carpet, Wood
      • Number of fireplaces: 1
      • Fireplace features: Wood Burning
      • Furnished: Yes
      Interior area
      • Total interior livable area: 2,500 sqft

      Property

      Parking
      • Parking features: Circular Driveway, Driveway, Garage, Gravel
      • Has garage: Yes
      • Has uncovered spaces: Yes
      Features
      • Levels: One
      • Stories: 1
      • Patio & porch: Rear Porch, Covered, Front Porch
      • Exterior features: Built-in Barbecue, Barbecue, Courtyard, Outdoor Kitchen, Rain Gutters, RV Hookup
      • Fencing: Fenced,Partial
      • Has view: Yes
      • View description: Mountain(s), Panoramic
      • Waterfront features: None
      Lot
      • Size: 594 Acres
      • Features: Cleared, Level, Views
      Details
      • Additional structures: Arena
      • Parcel number: 4077047493295000000
      • Zoning: Rural
      • Horse amenities: Pasture, Arena

      Construction

      Type & style
      • Home type: SingleFamily
      • Architectural style: Mountain,Ranch
      • Property subtype: Single Family Residence
      Materials
      • Frame, Stone Veneer, Stucco
      • Roof: Metal,Pitched
      Condition
      • New Construction
      • New construction: Yes
      • Year built: 2023

      Utilities & green energy

      • Sewer: Septic Tank
      • Water: Well
      • Utilities for property: Electricity Connected, Natural Gas Connected, Phone Available, Underground Utilities, Water Connected

      Community & HOA

      Community
      • Security: Carbon Monoxide Detector(s), Security Gate
      • Subdivision: Metes & Bounds
      Location
      • Region: Capitan

      Financial & listing details

      • Price per square foot: $1,680/sqft
      • Annual tax amount: $10,000
      • Date on market: 9/21/2025
      • Cumulative days on market: 217 days
      • Listing terms: Cash,Conventional,1031 Exchange
      • Electric utility on property: Yes
      • Road surface type: Gravel
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        Estimated market value

        Not available

        Estimated sales range

        Not available

        $3,530/mo

        Price history

        DateEventPrice
        9/23/2025Listed for sale$4,200,000-13.4%$1,680/sqft
        Source: RLCMLS #133164 Report a problem
        8/6/2023Contingent$4,850,000$1,940/sqft
        Source: RLCMLS #129726 Report a problem
        6/14/2023Listed for sale$4,850,000$1,940/sqft
        Source: RLCMLS #129726 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2024$2,413 +7%--
        2023$2,256 -3.6%--
        2022$2,339 -37.7%--
        2021$3,754 -11.9%--
        2020$4,262 -0.7%--
        2019$4,291 +0.6%--
        2018$4,265 --

        Find assessor info on the county website

        Monthly payment

        Est. payment
        $23,549/mo
        Principal & interest
        $21659
        Property taxes
        $1890
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          Climate risks

          Neighborhood: 88316

          Getting around

          0 / 100
          Car-Dependent
          15 / 100
          Somewhat Bikeable

          Nearby schools

          GreatSchools rating

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