137 acres with senior water rights and 3 homes. Located in Southwest Colorado's Banana Belt region of La Plata County at 6400' elevation, the Pat-way Ranch consists of 137 acres, of which 108 are irrigated. The three homes on the ranch total 8951 sq ft. The main home is 5501 sq ft, the guest house is 1567 sq ft and rented at $1,100 per month, and the rental property is 1983 sq ft and rented at $1,480 per month. Both rentals are on a month to month basis and could be vacated at closing if a buyer needed them available. In addition to the homes, additional improvements include a 3,888 sq ft Morton barn, a 40' x 26' workshop, pole barn, loafing sheds, and an RV hook-up. Ample water rights through Pine River Irrigation District consist of 108 shares of Pine River Canal. 8" gravity-fed gated pipe is the primary delivery method of the water. With 8 ponds on the ranch, 3 of which are spring fed, water storage is abundant. The fields are planted in timothy, clover, and brome. This region of La Plata County is known for producing exceptional horse hay that is sought after as far away as Florida. The gently rolling terrain is all south facing, allowing for excellent winter sunshine and an early growing season. Currently set up as a cattle and horse ranch, the fencing and cross-fencing is superb. With a fabulous corral system, the pens and chutes allow for an easy operation when moving livestock. Unlike other ranches in the region, this ranch is unencumbered as there is not a Conservation Easement on it. Endless recreational opportunities are just a short drive away including Fox Fire Farms Winery with live music and wine tasting, Two Rivers Marina at Navajo Lake on the confluence of the Piedra & San Juan Rivers, gold medal fly fishing on the San Juan River, hiking at either Chimney Rock National Monument or Mesa Verde National Park, skiing at Purgatory Resort of Wolf Creek Ski Area, and shopping in Durango or Pagosa Springs. This area is known for it's exceptional deer and elk hunting with a local outfitter just down the road that has exceptional success rates. Please call listing brokers for additional income strategies on this property as this is one of the few agricultural properties in the area that has the ability to have a good revenue stream.