For Sale

K-2 Ranch

$3,950,000 Powell, WY 1,268± Deeded Acres

Executive Summary

The K-2 Ranch is highly unique – truly “one-of-a-kind”. It consists of two dramatic sections, 1,268± acres in total; one section adjoins the Shoshone National Forest, which offers extensive private access into some of the best wilderness country in the Lower 48. Conversely, K-2’s valleys and canyons offer seasonal protection and refuge for the wildlife that make this wilderness their home. In addition to its national forest access, the ranch is almost surrounded by state and federal lands, giving one private access to thousands of more acres. The ranch is a short drive on good paved and graveled roads northwest of Clark. The terrain transitions from low and flat through dramatic canyons and coulees to the upper reaches of the ranch. The comfortable stucco two-bedroom home and two-bedroom guest house are thoughtfully and privately tucked into one of the canyons, along with an oversized two-car garage that includes “his” and “hers” shops. There are fenced areas with sheds for llamas. A well provides water, and the ranch also has a robust natural spring in the upper section. While the ranch is on the grid, the backup solar system and propane generator make it possible to do without. In summary, this is a very private, wildlife-rich retreat.

Just the Facts

  • Location: 38± mostly paved miles north of Cody, accessible year-round
  • Acreage: 1,268± deeded acres
  • Improvements: Owner’s home, guest house, and garage/office complex 
  • Operation: Private retreat
  • Wildlife: Elk, bear, mountain lion, deer, antelope, wolves, coyotes, Big Horn sheep, raptors, a vast variety of bird species are all seen on the property or in the adjacent USFS
  • Water: Well and live spring
  • Fishing: Nearby in Clarks Fork River
  • Summary: Unusual dramatic canyon and cliffs offering on the face of the Beartooths, with access to thousands of adjoining public acres plus Shoshone National Forest

General Description

Embarking in a northwesterly direction off Highway 120 and onto a wide sagebrush plain that is dotted with smaller acreage tracts on which reside comfortable homes and outbuildings, it is impossible not to be in awe of the massive Beartooth Front that dominates the view to the west. This is clearly ranch country, as the road clears the open plains and the road surface turns to gravel. The terrain is steep foothills cut by canyons, and a turn into a modest driveway marks the entrance to the K-2 Ranch. The immediate terrain is relatively flat open sagebrush grazing land, but the driveway turns northerly, marking the beginning of the dramatic landscape. Driving into a steep, narrow canyon, the road meanders around a bend, revealing the building compound tucked into the side of the hill. The balance of the ranch consists of a series of canyons and valleys that run in a southerly direction through the property. It is accessible on foot and horseback with very limited vehicle access due to the restrictions of the conservation easement. The upper section also has limited vehicle access. In general, this is described as “sageland steppe” country and quite dramatic, marked by lots of up and down canyons and cliffs. It attracts a broad cross-section of wildlife because of its protected nature and access to water. 

Broker's Comments

This is an unusual offering of a 1,268± acre mountain property in dramatic terrain on the face of the Beartooth Mountains. Almost completely surrounded by public lands, including the Shoshone National Forest, this ranch punches way above its weight as it has private access to thousands of acres of public lands. Properties like this are unique because they are accessible and useable year-round and attract an enormous variety of wildlife. 

Learn about the locale


K-2 Ranch is located eight miles northwest of the Highway 120 turn-off on good paved and graveled roads. A private driveway traverses from the road up to the building compound that is tucked away in a very private site in one of the dramatic canyons that characterize the lower section of the ranch. Cody is the main town to provide services to the area, although both Red Lodge, Montana, and Powell, Wyoming, are equidistant. They are all about a 45-minute drive. Cody has decent commercial air service with daily non-stop flights to Denver and Salt Lake City, as well as a full complement of social, medical, and economic services. Billings, Montana’s largest city, lies an easy 75 to 90-minute drive to the north. It offers extensive commercial air service options and a much broader set of cultural, social, economic, and medical services. 


Nearby Clark is an unincorporated community that services an estimated 300 residents in a 50-square-mile area. There is an elementary school. Its only commercial establishment is Edelweiss, which is a bar and convenience store that serves food on Highway 120. Its mild climate attracts retirees and workers who make the 30-mile commute to Cody or Powell. 

The expansive plains extend from the mountain front where the wild and scenic designated Clarks Fork of the Yellowstone River flows out of the mountains. There are a number of smaller ranches along the mountain face, as well as several sizeable ranches that operate on tens of thousands of acres – primarily for winter grazing because of the light snowfall. This creates a mix of ranchers, retirees, and families who are located far enough from town to foster a certain degree of interdependence. As one moves north of Clark, the Clarks Fork Valley turns into one of the most productive farming areas in the two-state area, adding even more diversity to the community. 

Cody is one of Wyoming’s most desirable and sought-after communities, with a long history of guests and visitors who have fallen in love with the mystique and the history of Cody and settled or retired there. It is the county seat for Park County and is home to the only night rodeo in Wyoming. There are nice restaurants and galleries, but the community's crown jewel is the internationally recognized Buffalo Bill Center of the West, which comprises five museums in one big complex. Cody is a major access point to Yellowstone Park, both for tourists and backcountry enthusiasts. Superb hunting, fishing, and recreational opportunities are enjoyed in the many mountain ranges of the area. There is also a touch of elegance found in Cody, which is always most prevalent when the Buffalo Bill Center of the West kicks off its annual fund-raising event in late September, which is not to be missed. Patrons come from all over the world to attend.


The Clark Basin area extends for tens of thousands of acres from the base of the mountains where the Clarks Fork of the Yellowstone River exits. The massive Beartooth Front, which extends all the way to Yellowstone Park, sucks the moisture out of the weather systems that must climb over the 11,000-foot ridges and peaks that surround the northeast corner of Yellowstone Park. Granite Peak, Montana’s highest, is a part of this chain and lies northwest of the ranch. This creates a rain shadow that makes the area into a wildlife and livestock friendly winter base. Belfry – just north of the ranch in Montana is known to be the driest place in Montana. Annual precipitation is less than ten inches, which keeps the area pretty much free of any significant snow accumulation. 

As described elsewhere, the ranch's topography consists of a series of steep valleys or canyons. Its elevations range from around 4,600 to 6,100 feet above sea level, which is high enough to keep extreme heat at bay in the summers. In fact, it would be difficult to find a more comfortable year-round climate anywhere in the northern Rockies with immediate access to extremely beautiful wilderness country figuratively “out the back door.”

Learn more about the property

Acreage (Deeded & Leased)

Deeded Acres: 1,268±
Total Leased Acres:
Total Acres: 1,268±

Additional Information


A conservation easement exists on the property. It prohibits additional residential construction on all but the building envelope and limits vehicular access except on established roads. However, there is a good-sized building envelope around the existing compound, and there are no restrictions on what can be built. 


The ranch improvements were built in the late 1990s, with the final completion of the main house in 2000. These were thoughtfully designed with environmental considerations in mind for an active owner with broad interests. The main house, guest house, and garage are concrete with a stucco exterior. They are extremely energy efficient and there is an installed solar system with battery storage, which will serve minimal requirements of the three structures in an emergency. There is also a propane-fired generator and multiple propane-fired fireplaces as further backup. The ranch does have internet service through Nemont and is, of course, on the grid for power and telephone.

OWNER’S HOME: This is a comfortable 3,314± square foot home that includes a kitchen, living room, dining area, and two bedrooms, each with a bathroom. There is also a pantry, a powder room, and a small office. This is all on the main floor. The lower floor, which is essentially a daylight basement, is a large room that currently includes an exercise area and an office. It also has a bathroom with a steam shower and a sauna. There is great potential for this area to be remodeled into an additional bedroom(s). The house features a unique “solar sink” that was originally intended to be a greenhouse. The house has in-floor heat, and annual heating costs are minimal. 

GUEST HOUSE: The modest 600± square foot guest house includes two bedrooms (one with a bunk bed), a bathroom, and a living room/kitchen/dining area. It is ideal for a couple with children. 

GARAGE/SHOP: This 1,200± square foot structure is multipurpose, serving both as a two-car garage and as an office complex.

OTHER BUILDINGS: The remaining structures consist of loafing sheds, which currently house the remnants of a llama herd. The ranch is fully fenced, 90 percent of which is wildlife-friendly.

Water Rights

The ranch's main water sources are a well and a live spring. The well produces in excess of two gallons per minute (GPM) from 200 feet with a static water level of 20 feet. The ranch has two 1,500-gallon cisterns that are monitored and have never been below the monitor level. 

Mineral Rights

The seller does not own any of the mineral rights on this property.


The annual estimated taxes are $8,784.

Learn about the recreational amenities

Wildlife Resources

This setting is an absolute magnet for the wildlife that resides in the area. Deer, elk, bear, wolves, coyotes, raptors, and an incredible array of birdlife use the ranch in season. One never knows what wildlife they will encounter on a morning or evening hike.

There is no fishing on the ranch, but the Clarks Fork is nearby, and there is extensive public access to it for floating or fishing in the stream or from the bank. Although it is not a river that gets a lot of public use, it is generally considered a great fishery by those who know it. 

Learn about the general operations

General Operations

The current owners have opted to leave the forage on the property for wildlife. The deer, elk, and pronghorn antelope have responded well to this consideration.  

Back to Overview

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