$3,495,000 Active
22440 CA-89
Calpine, CA 96124
STR Status Unknown
5 Beds
·
4.0 Baths
·
3,116 Sq Ft

About This Property

For generations, Calpine Ranch has been part of the fabric of Sierra Valley. Set against the backdrop of the Sierra Nevada, this extraordinary property encompasses approximately 532± acres across three contiguous parcels, where productive irrigated pasture, water resources, and well-established ranch infrastructure come together in one of Northern California's most significant private landholdings. Fletcher Creek and Spring Creek flow through the ranch, complemented by adjudicated water rights and an artesian well that have sustained productive pasture and ranch operations for generations. Improvements include two residences, including the original ranch home with an attached former bunkhouse, an approximately 6,000-square-foot shop, barn with tack room, feed room, runouts, multiple corrals, and the well-developed infrastructure suited for cattle and equestrian operations. Whether continuing its agricultural heritage, creating an exceptional equestrian property, or preserving it as a private family holding, Calpine Ranch offers a rare opportunity to become the next steward of one of Sierra Valley's landmark properties. Conveniently located approximately 35 minutes from Truckee and about one hour from Reno-Tahoe International Airport, it offers remarkable privacy with convenient year-round access. Offering includes three contiguous parcels totaling approximately 532± acres (per seller) with addresses at 22440 State Highway 89, 22240 State Highway 89, and 175 Calpine Road. Property includes adjudicated water rights and an artesian well, is not subject to the Williamson Act, and is not encumbered by a conservation easement. Buyer is advised to independently verify all information, including acreage, water rights, improvements, zoning, and permitted uses.

Listed by Camille Duvall — Sierra Sothebys International

Listing Details

Status Active
MLS # 260009004
Price/Sq Ft $1,122

Property History

Jul 15, 2026
Listed for sale
$3,495,000
Property Overview
Beds 5
Baths 4.0
Sq. Ft. 3,116
Lot Size 532.00 acres
Stories 2
Year Built 1885
Property Type Single Family Residence
APN 012-090-110
Parking
Garage Spaces 2
Total Parking 2
Parking Features Additional Parking, Detached, Garage, Parking Pad, RV Access/Parking, RV Garage
Attached Garage Yes
Exterior & Lot
Exterior Features None
Lot Features Greenbelt, Level, Meadow, Pasture
View Meadow, Mountain(s), Park/Greenbelt, Trees/Woods, Valley
Roof Composition
Foundation Other
Utilities & Systems
Heating Forced Air
Water Source Fletcher and Spring Creeks
Financial
Annual Tax $27,382
Schools
Elementary School Out of Area
Middle School Out Of Area
High School Out Of Area
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STR Investment Analysis

See projected rental revenue, occupancy rates, and investment scores.

STR Investment Analysis

Permitted Zone
STRUCTURAL SCORE Excellent
87
PROJECTED ANNUAL REVENUE
$142,500 ($118K – $167K range)
~$11,875 per month
Avg Nightly
$485
Occupancy
68%
Cap Rate
5.2%

Cost Segregation Tax Savings

Estimated first-year bonus depreciation savings

Estimated First-Year Tax Savings
$0
via bonus depreciation
Land Value
$0
Improvement Basis
$0
5-Year Property (18%)
$0
15-Year Property (10%)
$0
Estimates are for informational purposes only and do not constitute tax advice. Consult a qualified CPA or tax professional for your specific situation. Actual savings depend on individual tax circumstances.

Payment calculator

$0 per month
Principal & interest
$0
Property taxes
$0
HOA dues
$0
From MLS listing data.
Home insurance
$0
Insurance estimate only — Tahoe wildfire-zone rates vary; get a local broker quote for accuracy.
Down payment
20% ($699,000)
Home price
$3,495,000
Loan details
30-yr fixed, 6.5%
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