398 Pine Ldg, Capitan, NM 88316
Property image
Property image
FOR SALE
NEW CONSTRUCTION
140 ACRES

398 Pine Ldg
Capitan, NM 88316

  • 6 Beds
  • 9.5 Baths
  • 9,978 sqft (on 140 acres)

$5,000,000

Original price: $9,495,000
Est. Mortgage $27,687/mo*
Get Pre-Qualified

$5,000,000

Original price: $9,495,000
Est. Mortgage $27,687/mo*
Get Pre-Qualified
6 Beds
9.5 Baths
9,978 sqft
(on 140 acres)

Home Highlights

Parking
Garage
Price/Sqft
$501
Listed
180+ days ago

Local Information

  • Map ViewExplore the area around 398 Pine Ldg.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

About this House

Welcome to Crown T Estatea truly extraordinary opportunity where expansive skies, rolling terrain, and the rugged beauty of New Mexico converge. Situated on 140 acres within Lincoln Countys prestigious Ranchos de Caballos Estates, this unfinished yet exceptional 9,978 sq ft custom home offers both scale and vision. Built to showcase the expansive views of Sierra Blanca and the Capitan Mountains, the three-story residencebegun in 2022is approximately 85% complete. With key infrastructure complete, skip the long wait times and skyrocketing construction costs. New builds in this region can take 23+ years and incur hundreds of thousands in soft costs before construction even begins. Instead, customize the finishes, fast-track your timeline, and create your forever escape. With architectural renderings available for review. Most of the essential materials have been carefully selected, purchased, and are currently stored on the property. From cozy fireplaces to view-filled windows and family-friendly living spaces, the home was thoughtfully planned for both warmth and connection. Over 6,500 sq ft on the main level provides ample space for multi-generational living, entertaining, or creating a full ranch-style compound. Crown T Estate offers the scale, setting, and flexibility to bring your vision to life. A thoughtfully designed barn offering both high-end functionality and exceptional multi-use space, this well-appointed facility overlooks a potential arena site and features spacious 14 x 14 stalls, providing ample room and comfort for horses and other livestock. Spanning approximately 5,716 sq ft (buyer to verify), the barn blends practical utility with modern comfortmaking it ideal not only for ranch operations but also as a flexible venue for entertainment, guest accommodations, and workspace. Equipped with a dedicated veterinary suite, the barn supports great on-site animal care. Processing and breeding areas enhance operational efficiency for livestock management, while the potential arena location makes this an excellent setup for training, competition preparation, or recreational riding. In addition to its residential and recreational elements, the barn includes substantial space for equipment storage, feed, and tack. This facility delivers the infrastructure and versatility to support both a fully functioning ranch and a multi-purpose lifestyle hub. Whether you're managing livestock, hosting guests, or crafting a personalized living or working environment, this barn is built to exceed expectations. Located in Game Management Unit 37 (GMU 37), this property sits in prime big game country, offering exceptional hunting and wildlife opportunities. The diverse terrain provides excellent habitat for elk, mule deer, antelope, and Barbary sheep, drawing a wide range of game throughout the seasons. The area is especially well known for producing trophy bull elk and pronghorn, making it a highly sought-after destination for big game hunters. With the property bordering New Mexico State Land, it opens access to even broader areas for hunting, glassing, and recreationexpanding the opportunities well beyond the deeded acreage. Ranchos de Caballos Estates, is one of New Mexicos premier large-acreage communities, known for its privacy, natural beauty, and expansive views. This exclusive setting offers seclusion without sacrificing convenience. Saddle up for a morning ride, host unforgettable gatherings with mountain backdrops, or unwind under New Mexico's star-filled skies. 398 Pine Lodge Rd offers scale, serenity, and limitless potentialall in one of New Mexicos most scenic, storied regions. Whether you're a hunter, a horse lover, or just seeking a peaceful, private haven to reconnect with nature, this property offers unmatched opportunity.
Last check for updates: about 6 hours ago
Listing courtesy of Dan Murphy, (970) 209-1514
M4 Ranch Group, (970) 944-4444
Source: New Mexico MLS, MLS#20255411
Also Listed on New Mexico MLS.

Home Details for 398 Pine Ldg

Interior Features

Interior Details
Number of Rooms: 16
Beds & Baths
Number of Bedrooms: 6Number of Bathrooms: 8Number of Bathrooms (full): 5Number of Bathrooms (half): 3Number of Bathrooms (partial): 3
Dimensions and Layout
Living Area: 9978 Square Feet
Fireplace & Spa
Number of Fireplaces: 2Has a FireplaceNo Spa
View
No View

Exterior Features

Parking & Garage
Number of Garage Spaces: 3Number of Covered Spaces: 3No CarportHas a GarageNo Attached GarageParking Spaces: 3Parking: Garage
Frontage
Not on Waterfront
Farm & Range
Not Allowed to Raise Horses
Surface & Elevation
Topography: Irregular Lot

Days on Market

Days on Market: 180+

Property Information

Year Built
Year Built: 2022
Property Type / Style
Property Type: ResidentialProperty Subtype: Single Family Residence
Building
Is a New ConstructionNot Attached PropertyDoes Not Include Home Warranty
Property Information
Condition: Under ConstructionParcel Number: 4078047504273000000

Price & Status

Price
List Price: $5,000,000Price Per Sqft: $501

Active Status

MLS Status: Active

Location

Direction & Address
City: Capitan
School Information
Elementary School: None/OtherJr High / Middle School: None/OtherHigh School: None/Other

Agent Information

Listing Agent
Listing ID: 20255411

Building

Building Area
Building Area: 9978 Square Feet

Community

Not Senior Community

HOA

Has an HOA

Lot Information

Lot Area: 140 Acres

Documents

Disclaimer: Information not guaranteed. Buyer to verify all information.

Offer

Listing Agreement Type: Exclusive Right To Sell

Mobile R/V

Mobile Home Park
Mobile Home Units: Feet

Miscellaneous

Mls Number: 20255411

Around this home

What Locals Say about Capitan

At least 7 Trulia users voted on each feature.

  • 92 % Say car is needed

  • 88 % Say there's wildlife

  • 75 % Say there's holiday spirit

  • 70 % Say parking is easy

  • 67 % Say people would walk alone at night

  • 63 % Say yards are well-kept

  • 63 % Say kids play outside

  • 61 % Say neighbors are friendly

  • 60 % Say it's dog friendly

  • 55 % Say they plan to stay for at least 5 years

  • 46 % Say it's walkable to grocery stores

  • 45 % Say it's quiet

  • 29 % Say there are community events

  • 27 % Say it's walkable to restaurants

  • 13 % Say streets are well-lit

Sourced by Trulia users. Learn more about our methodology.

Market trends in Capitan

Last updated July 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
—
Sale-to-List Price
—
Price per sq ft
—
Available listings
15

Home Value

Trulia Estimate
$4.25M
Since last month
Decreased$81K (-1.9%)
Since last year
Decreased$81K (-1.9%)
Learn more about this home's value by checking out its Trulia Estimate, the value of nearby homes, and how much similar homes have sold for.

Trulia Estimate

The of this home's value decreased by -2% in the last 10 years
MonthEstimated value
2026
August 2026$4.26M
July 2026$4.34M

Comparable sales

These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.
Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
257 Fort Lone Tree Rd, Capitan, NM
2.22
Single-Family Home
-
10/02/25
2
3.5
3,129
428 Fort Lone Tree Rd, Capitan, NM
2.66
Single-Family Home
-
08/04/26
3
2
1,629
123 La Cumbre, Capitan, NM
2.19
Single-Family Home
-
10/24/25
2
1
1,736
8630 Highway 380, Capitan, NM
2.67
Single-Family Home
-
10/10/25
3
2
2,893
404 W 3rd St, Capitan, NM
2.92
Single-Family Home
-
10/24/25
3
2
1,693
208 S White Oaks Ave, Capitan, NM
2.89
Single-Family Home
-
09/22/25
3
1
2,004
102 S Nogal Ave, Capitan, NM
2.84
Single-Family Home
-
02/09/26
2
1
1,080
408 W 3rd St, Capitan, NM
2.91
Single-Family Home
-
08/29/25
2
1
800
2073 State Highway 48, Capitan, NM
3.80
Single-Family Home
-
03/06/26
2
2
1,800
152 Mount Terrace Dr, Capitan, NM
4.29
Single-Family Home
-
10/10/25
3
2
1,516

Nearby home prices

Get a sense of expected prices in the area by checking the value of nearby homes.
Address
Distance
Price
Bed
Bath
Sqft
Status
398 Pine Lodge Rd, Capitan, NM 88316
0.01
$5,000,000
6
6.5
9,978
For Sale
331 Pine Lodge Rd, Capitan, NM 88316
0.82
$4,100,000
3
3.5
2,500
For Sale
269 Pine Lodge Rd, Capitan, NM 88316
1.35
-
3
2
1,644
Off Market
107 Hollyhock Hill Dr, Capitan, NM 88316
1.52
-
3
2
1,792
Recently Sold

Price and Tax history

DateEventPrice
Jun 23, 2026
Source: New Mexico MLS #20255411
PriceChange
$5,000,000
Price decreased by 47%
Sep 18, 2025
Source: New Mexico MLS #20255411
Listed For Sale
$9,495,000

LGBTQ Local Legal Protections

Dan Murphy, M4 Ranch Group, (970) 944-4444
Agent Phone: (970) 209-1514
The data relating to real estate for sale in this web site comes in part from the Internet Data Exchange (“IDX”) program of the New Mexico Multi-Board MLS. Real Estate listings held by brokers other than Zillow, Inc. are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed.

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Frequently asked questions about 398 Pine Ldg

  • What is the estimated monthly payment for 398 Pine Ldg?
    Based on a $5,000,000 list price with 20% down at today's rates, the estimated monthly payment for 398 Pine Ldg in Capitan, NM is approximately $28,522 (about $26,197 principal & interest, $2,250 property taxes, and $75 homeowner's insurance). This is an estimate. Actual payment depends on your loan terms.
  • What do residents say about Capitan?
    Residents describe Capitan, NM as easy to park in, well-kept, and neighborly. Most residents say you need a car. See homes for sale in Capitan, NM.
  • What are the closest schools to 398 Pine Ldg?
    The closest schools to 398 Pine Ldg in Capitan, NM are Capitan Elementary School (Pre-K, rated 7/10), Capitan High School (rated 9/10), Capitan Middle School (rated 6/10).
  • What is 398 Pine Ldg estimated to be worth?
    Trulia's estimated value for 398 Pine Ldg in Capitan, NM is $4,253,300.
  • How big is the lot at 398 Pine Ldg?
    The lot at 398 Pine Ldg in Capitan, NM is about 140 acres.
  • Does 398 Pine Ldg have a garage?
    Yes, 398 Pine Ldg in Capitan, NM has a garage.
398 Pine Ldg, Capitan, NM 88316 is a 6 bedroom, 8 bathroom, 9,978 sqft single-family home built in 2022. This property is currently available for sale and was listed by New Mexico MLS on Sep 18, 2025. The MLS # for this home is MLS# 20255411.