Dos Caballos

Property Map

Dos Caballos - Recently Sold

Roy, New Mexico

The Canadian River runs for five miles through the heart of Dos Caballos Ranch, a spectacularly beautiful 10,000± acre property two hours northeast of Santa Fe, NM. The ranch encompasses both banks of the river, which courses through a 500-foot-deep canyon with immense stone cliffs and rock overhangs.

While the Canadian River defines Dos Caballos, the terrain throughout the ranch is equally dramatic with narrow, finger-like canyons, arroyos, mesas, and plateaus. Large cottonwood trees, willows, box elders, and elms line the river banks while piñon, Gambel oaks, juniper, and ponderosa pine grow on the high ground. Native grasses, including buffalo, blue stem, and grama thrive here.

Numerous catchments, drainages and dirt tanks provide water for livestock and abundant wildlife. Located in Game Management Unit 47, the ranch is home to elk, deer, bear, Barbary sheep, black bear, pronghorn, mountain lion, bobcats, ringtail cats, and Merriam’s turkey, as well as small game animals and birds.

Improvements are high quality and located for maximum privacy and security near the center of the ranch, with the two main homes accessed by gated roads. The 3,800± square-foot Mediterranean-style owner’s home, built on a high plateau, overlooks the confluence of two vast canyons with a view of the Sangre Cristo Mountain Range to the west. Other improvements include the lovely River House, which is ideal for guests; an equipment shop; and a hay shed and pen.

In New Mexico, property with live water, particularly a significant river, is very valuable and challenging to find – rare, in fact. Dos Caballos Ranch offers the best of a river ranch property with diverse terrain and many recreational possibilities.


The boundaries of Dos Caballos extend into Harding and Mora counties in northeastern New Mexico, about two hours northeast of Santa Fe. The main entrance to the ranch is located on Hwy 120, about 27 miles east of Interstate 25 and Wagon Mound, a historic community named for a Conestoga-shaped butte that served as a landmark on the Santa Fe Trail. Roy, a small community eight miles east of the ranch, has a café, convenience store for necessities, post office, bank, and a well-ranked public school system.

Las Vegas, NM, about an hour’s drive southeast of the ranch, is a regional center for shopping, commerce, and medical care, with Alta Vista Regional Hospital providing a range of services, including cardiac and surgical care.

The Las Vegas Municipal Airport, a public general aviation airport, is an hour from the ranch. The Albuquerque International Sunport offers numerous nonstop flights daily on major airlines to cities throughout the United States, and is about three hours’ driving time southwest of the ranch. The Rick Husband Amarillo International Airport, about three hours southeast of the ranch in the Texas Panhandle, has nonstop commercial flights daily to Dallas-Fort Worth, Houston, and Denver.


Northeastern New Mexico is a place of stark and awe-inspiring beauty with rolling grasslands, mesas, and buttes. Extinct volcanic cones rise abruptly from the prairie, including the famed Capulin Volcano, the largest of the cones in the Raton-Clayton volcanic field. Nineteenth century pioneers traversed the volcanic fields and grasslands along the Santa Fe Trail, which is today part of the Santa Fe Scenic Byway. The Kiowa National Grasslands spread across much of Mora and Harding counties, and up to the northern-most acreage of Dos Caballos Ranch.

Most of northeastern New Mexico is sparsely populated. Santa Fe, however, is an easy drive south on Interstate I-25, about 2.5 hours from the ranch. Founded by the Spanish in 1610, Santa Fe famously retains its old-world charm with the 400-year-old Palace of the Governors and Spanish Pueblo Revival-style buildings throughout the city center. As one of the most interesting and eclectic art centers in the United States, the city draws painters, photographers, musicians, and performing artists from around the word.

General Description: 

For thousands of years, the river has shaped the land, giving life and drawing ancient peoples to its banks. From its source in the Collegiate Peaks in southeastern Colorado, the Canadian River runs for 906 miles through New Mexico, the Texas Panhandle, and Oklahoma to empty into the Arkansas River. For five miles of that spectacular run, the Canadian courses through the heart of Dos Caballos, where it has carved a sensational and secluded canyon. Sheer stone cliffs rise 500 feet above the lush river bottom to mesas with stirring views of the distant Sangre de Cristo Mountains.

The ranch encompasses both banks of the river for its entire length through the property. Numerous small tributaries of the Canadian also run through the ranch, while natural catchments and water holes provide year-round water for livestock and wildlife alike.

The land is stunningly beautiful, stark, raw and rugged, cut through with canyons and arroyos. Atop the mesas, blue stem and several varieties of high-protein grama grasses grow in natural pastures.  Cottonwoods, willows, box elders, and elms grow along the river while the canyon slopes and rims are forested with stands of piñon, juniper, Gambel oak, and ponderosa pine. Throughout the ranch there are flake sites and evidence of habitation from ancient peoples – a testament to the enduring allure of this land.


6,980± deeded acres

Acreage Breakdown: 

Deeded Acres:   6,980± Acres
State Lease:    3,110± Acres
Total Acres: 10,090± Acres


The homes and facilities on Dos Caballos Ranch were built with privacy and security in mind and are situated near the center of the ranch well beyond the view of Hwy 120. Private roads secured by motor-powered, electronic gates lead to the Main House and the River House.

Owner’s Home
Secluded but inviting, the 4,000± square-foot Owner’s Home sits high on a mesa overlooking both the Alamito and Canadian River canyons. The house faces east to take advantage of the rising sun and has spectacular views to the west of the Sangre de Cristo Mountains.

The architecture blends classic Mediterranean style with the charm of a Northern New Mexican hacienda, and the result is exquisite. The home lives larger than it is, with public rooms designed to bring the outdoors inside.

The house was custom built in 2000, using Rastra Insulated Concrete Forms (ICF) for the exterior walls. The forms, filled with concrete, lock in place and remain in the structure for strength and insulation. The concrete construction inhibits fire and smoke damage and resists mildew, fungus, and frost damage. Copper gutters and copper-clad window trim and doors accent the exterior. Hand-made antique farmhouse tiles imported from Italy cover the colorful roof. Stones gathered on the ranch were used for the exterior stonework.

The home has three levels: the main living area, a tower with a den designed for entertaining and enjoying the views, and a lower level with two garages, one a two-car, the other a single Jeep size.

Reclaimed materials are used throughout to create a warm ambience.  The living room floors are reclaimed pine.  Hand-hewn square antique beams salvaged from East Coast barns support the kitchen ceiling. The floors in the bedrooms are solid cherry. Hand-plastered interior walls are tinted in soft earth tones to complement the surrounding landscape. The family room has a wood-burning Mumford fireplace with stone facing and mantel.

The groin-vaulted and gilded foyer ceiling features custom-made mosaic tiles commissioned from a noted artist to depict flora and fauna found on the ranch.

The kitchen is a chef’s dream, outfitted with commercial-grade, stainless steel Viking appliances, including a gas and electric range, warming drawer, refrigerator, and ventilation system. Countertops are granite, as is the top of a 5’x12’ island. Floor tiles in the kitchen were reclaimed from a French country house. A combination pantry and laundry room also has a refrigerator, freezer, and trash compactor.

Each of the three bedrooms has a private bath with marble vanities, tub, and separate shower. The master suite has large walk-in closets and a stacked washer and dryer. There is a fourth bathroom with a shower off the foyer.

The Main House has hydronic floor heat, a solar hot-water heating system, and a 1,000-gallon propane tank, which is hidden from view. Additional features include a dumb waiter from the house to the garage, which also has in-floor heat. 

The River House
Ideal for guests or a resident manager, the 1,900± square-foot River House is secluded in the heart of the Canadian River Canyon. The home has three bedrooms, each with a walk-in closet; two baths with alabaster countertops; solid hickory floors in the main living areas; and tile floors in the kitchen and baths. The home has forced-air heat and air conditioning, propane, and electricity.

The ranch is on the grid with electricity provided by the Springer Electric Co-op. Water to the Owner’s Home is supplied and metered by the town of Roy via a 10-mile pipeline, with shut-off valves at 1.5-mile intervals. A river well with a terminal faucet located about 100 feet from the Main House supplies water for the horse barn and two storage tanks with a combined capacity of 25,000 gallons, which the current owners fill two to three times a year. Water to the River House is supplied by three connected wells, which fill a large holding tank. A booster pump in the well house pressurizes the water. All the wells on the property are permitted.

Horse Barn and Paddock
The three-stall horse barn of solid Pumice-Crete® construction was designed to match the style of the Owner’s Home. The 28’ x 30’ barn has water and electricity. There is a steel-fenced paddock and an 80’ x 120’ outdoor arena with turnout and moveable panel pen.


Northeastern New Mexico enjoys a semi-arid, high desert climate with about 300 sunny days a year and comfortably low humidity. Summers days are warm with high temperatures averaging in the 80s, while nights cool off into the 60s. Winter lows are in the 20s and 30s. Thirty- to forty-degree temperature swings in a day are common. Snowfalls of 1 to 18 inches occur from October through March. (Harding County receives considerably less snow, about 20 inches a year.) Annual rainfall averages about 15 inches on the ranch, with most of that in July and August during the American Southwest monsoon season.

The ranch rises in elevation from 4,900 to 5,600 feet above sea level.

Wildlife Resources: 

With its abundant water and varied terrain, Dos Caballos is an ideal wildlife habitat and is, in fact, home to a wide array of large and small game animals. Elk, Barbary sheep, pronghorn antelope, mule deer, black bear, and mountain lions can be found throughout the ranch, along with bobcats, ringtail cats, foxes, Merriam’s turkey, and a host of birds, including ravens, hawks, ducks, geese, and herons. The ranch has not been hunted or grazed in several years, which has improved the native grasses and forage, habitat, and wildlife count. 

The ranch is in Game Unit 47, outside the core elk range. Elk tags are available on an individual basis through arrangements with surrounding land owners and the New Mexico Game and Fish division.

Fishery Resources: 

The Canadian River is a wild river (no upstream dams) and diverse fishery, teaming with a variety of native species that live at different altitudes along its course, including chub, minnows, and catfish.

Two large reservoirs on the Canadian River, the Ute Lake Reservoir and the Conchas Lake Reservoir, each about 80 miles from Dos Caballos, offer recreational opportunities and sport fishing for large-mouth bass, catfish, crappie, and walleye.

Recreational Considerations: 

With about 35 miles of dirt tracks and roads throughout the property, Dos Caballos is the perfect place for horseback riding, four-wheeling, hiking, and mountain biking.

Beyond the ranch, there are excellent opportunities for winter snow skiing and outdoor recreation. The Taos Ski Valley Resort, about two-and-one-half hours northwest, is known for its challenging runs with chutes and bowls. Hiking, camping, and fishing is fantastic in the Carson National Forest, about two hours west, and in the storied Pecos Wilderness, about two hours south of the ranch.

Additional Information: 

Area Attractions
Taos Ski Valley Resort, Taos, NM 
Taos Ski Valley Resort offers a variety of runs for skiers of all levels. The resort village is in the Sangre De Cristo Mountains, about 18 miles northeast of the town of Taos, and is open year round for hiking, horseback riding, and tubing in the summer.

Capulin Volcano National Monument, Capulin, NM
Visitors can hike to the top of the Capulin Volcano at the Capulin Volcano National Monument or linger in the visitor’s center to learn about the region’s rich geological and archeological history. Located near the tiny town of Capulin, NM, and only eight miles from the Folsom Man site, where the famed Folsom Points (9500 to 8000 BCE) were discovered, the volcano sits at what was once the crossroads of an ancient culture.

Ute Lake State Park, Logan, NM
Ute Lake State Park surrounds an 8,200-acre reservoir, formed by damming the Canadian River. The reservoir, located two miles west of Logan, is home to large-mouth bass, crappie, catfish, and walleye.

Conchas Lake State Park, Conchas Dam, NM
The Conchas Lake State Park in San Miguel County, northwest of Tucumcari, has secluded coves and sandy beaches with excellent camping, boating, and fishing.

Santa Fe, NM
Santa Fe, NM, long a favorite of artists and musicians, needs no introduction. New Mexico’s state capital celebrates its 400-year-old Spanish colonial heritage and rightful place as a heralded center for fine arts and cuisine. The Santa Fe Opera, a fixture since 1957, has earned an international reputation, drawing thousands of operaphiles to the stunning open-air Crosby Theatre in July and August.

Broker Comments: 

Known as the “Land of Enchantment,” New Mexico is recognized for its raw beauty, vast open spaces, diverse landscape, abundant wildlife, and welcoming people. Dos Caballos Ranch embodies the true essence and spirit of New Mexico. Setting foot on this land feels like one is taking a step back in time, while being totally immersed with nature at its finest. Deep canyons, expansive plateaus, steep cliff faces, and massive rock formations cover the landscape. The primary residence, tastefully designed, blends in with the surrounding environment and is ideally positioned overlooking the canyon, showcasing truly awe-inspiring views. The highlight of the ranch, however, is possession of five miles of both banks of the Canadian River traversing through the bottom land, offering a significant and rare water resource. Dos Caballos possesses many highly distinctive physical elements and is without question a hallmark recreational property.

The Facts: 
  • 6,980± deeded acres
  • 3,110± acres of state lease
  • 5+ miles of both banks of the Canadian River
  • 25± miles east of Wagon Mound via Highway 120
  • Approximately one-hour drive to Las Vegas Municipal Airport
  • Two-hour drive to Santa Fe
  • 4,000± sq. ft. primary residence
  • 1,900± sq. ft. manager’s home
  • Equipment shop and three-stall horse barn
  • 4,900 to 5,600 elevation
  • Abundant wildlife
  • Game Management Unit 47
  • Close proximity to the Kiowa National Grasslands
  • Private and secluded
  • Varied topography, multiple canyons, arroyos and drainages
  • Indian artifacts

New Mexico Brokerage Relationship

Every licensed New Mexico real estate Broker is obligated to disclose Broker Duties.  Disclosure: The following brokerage relationships are available in the State of New Mexico: (1) transaction broker, (2) exclusive agency, and (3) dual agency (see RANM Form 1401, p. 2).

Prior to the time an Associate Broker or Qualifying Broker generates or presents any written document that has the potential to become an express written agreement, the Broker shall disclose in writing to a prospective buyer, seller, landlord or tenant, the following list of Broker Duties that are owed to all Customers and Clients by all Brokers regardless of the brokerage relationship:

(A) Honesty and reasonable care; as set forth in the provisions of this section;

(B) Compliance with local, state, and federal fair housing and anti-discrimination laws, the New Mexico  Real Estate License Law and the Real Estate Commission Rules and Regulations, and other applicable local, state, and federal laws and regulations;

(C) Performance of any and all oral or written agreements made with the Broker's Customer or Client;

(D) Assistance to the Broker's Customer or Client in completing the Transaction, unless otherwise agreed to in writing by the Customer or Client, including (1) Presentation of all offers or counter-offers in a timely manner, and (2) Assistance in complying with the terms and conditions of the contract and with the closing of the Transaction; If the Broker in a Transaction is not providing the service, advice or assistance described in paragraphs D(1) and D(2), the Customer or Client must agree in writing that the Broker is not expected to provide such service, advice or assistance, and the Broker shall disclose such agreement in writing to the other Brokers involved in the Transaction; 

(E) Acknowledgment by the Broker that there may be matters related to the Transaction that are outside the Broker's knowledge or expertise and that the Broker will suggest that the Customer or Client seek expert advice on these matters;

(F) Prompt accounting for all monies or property received by the Broker;

(G) Prior to the time the Associate Broker or Qualifying Broker generates or presents any written document that has the potential to become an express written agreement, written disclosure of (1) any written Brokerage Relationship the Broker has with any other Parties to the Transaction; (2) any material interest or relationship of a business, personal, or family nature that the Broker has in the Transaction; and (3) other Brokerage Relationship options available in New Mexico;

(H) Disclosure of any adverse material facts actually known by the Broker about the property or the Transaction, or about the financial ability of the Parties to the Transaction to complete the Transaction. Adverse material facts do not include data from a sex offender registry or the existence of group homes;

(I) Maintenance of any confidential information learned in the course of any prior Agency relationship unless the disclosure is with the former Client's consent or is required by law;

(J) Unless otherwise authorized in writing, a Broker shall not disclose to their Customer or Client during the transaction that their Seller Client or Customer has previously indicated they will accept a sales price less than the asking or listed price of a property; that their Buyer Client or Customer has previously indicated they will pay a sales price greater than the price submitted in a written offer; the motivation of their Client or Customer for selling or buying property; that their Seller Client or Customer or their Buyer Client or Customer will agree to financing terms other than those offered; or any other information requested in writing by the Broker's Customer or Client to remain confidential, unless disclosure is required by law.

Effective January 1, 2007, the New Mexico Real Estate Commission requires the disclosure of the following brokerage relationships (as quoted from NMAC, 1-1-2005): 

16.61-19.0 Brokerage Relationships: Brokerages working with consumers either as customers or clients may do so through a variety of brokerage relationships.  These relationships include but are not limited to an exclusive agency relationship, a dual agency relationship, or a transaction broker relationship.  For all regulated real estate transactions, a buyer, seller, landlord or tenant may enter into an express written agreement to become a client of a brokerage without creating an agency relationship, and no agency duties will be imposed.

A. Exclusive agency: an express written agreement between a person and a brokerage wherein the brokerage agrees to exclusively represent as an agent the interests of the person in a real estate transaction.  Such agreements include buyer agency, seller agency, designated agency, and subagency agreements. 

B. Dual agency: an express written agreement that modifies existing exclusive agency agreements to provide that the brokerage agrees to act as a facilitator in a real estate transaction rather than as an exclusive agent for either party to the transaction.  

C: Transaction broker:  a brokerage that provises real estate services without entering into an agency relationship. 

NOTICE: Offering is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classifications, acreages, carrying capacities, potential profits, etc., are intended only as general guidelines and have been provided by sources deemed reliable, but whose accuracy we cannot guarantee. Prospective buyers should verify all information to their satisfaction. Prospective buyers should also be aware that the photographs in this brochure may have been digitally enhanced.