$6,200,000 $6,399,000 ↓ $199,000 reduced Active
5555 Sage Flat Road
Reno, NV 89510
STR Status Unknown
3 Beds
·
2.0 Baths
·
1,100 Sq Ft

Get homes like this by email

When a home like this lists in Reno at a similar price and size, we email you the same day. No account needed.

About This Property

The 1,144.58 acre Palomino Farms stands as a cherished agricultural hallmark of the Palomino Valley, located just a 8-minute drive north of Sparks, NV and 30-minute drive to Reno, NV, one of the fastest-growing metropolitan regions in the United States. Palomino Farms is a multifaceted and innovative farm with high-quality alfalfa and mixed hay production at its heart with 330 ± irrigated acres under one Zimmatic and one Valley pivot, coupled with 46.25 acres under wheel line irrigation. With repair of one of the ag wells, there is future capability for one Zimmatic pivot to provide an additional 135 ± acres of pivot irrigation. The hay crop is bolstered by 2,039.55 acre feet of underground water rights, three 600+ ft. ag wells, and three 150 HP pumps for each. Additionally, there are approximately 633.33 ± acres of rangeland to boot. Adding another potential income-producing facet to Palomino Farms are the 18.77 ± acres of General Commercial (GC) zoning with direct exposure on Pyramid Highway (Hwy 445). With its excellent highway location, this acreage opens the door to the development of a variety of business possibilities including: retail and shopping, automotive services, food and hospitality, or professional and personal service related businesses all with limited gaming allowed. This commercial acreage offers an opportunity to diversify the property and potentially create an additional source of income, complementing the farm operations. Together, the productive agricultural land, substantial water resources, rangeland, and strategically located commercial acreage make Palomino Farms a truly versatile property with multiple avenues for continued operation and future potential. The home is a comfortable 1,100 sq. ft. updated three bedroom, two bath home with lawn, including a large kitchen with stainless steel appliances, and a cozy living room. Ranch infrastructure includes a pole hay barn, equipment shed, shop, and outbuildings. It's extremely rare to find such a productive alfalfa farm with enviable water rights and buildable lots in Washoe County. Come discover the endless opportunities with Palomino Farms!

Listed by Todd Renfrew — Outdoor Properties of Nevada

Listing Details

Status Active
MLS # 240014982
Days on Market 670
Price/Sq Ft $5,636

Property History

Dec 02, 2024
Listed for sale
$6,399,000
Sep 18, 2026
Price increased
$6,200,000 $2,980,000 ↑ $3,220,000
Property Overview
Beds 3
Baths 2.0
Sq. Ft. 1,100
Lot Size 1144.58 acres
Stories 1
Year Built 1976
Property Type FarmAndRanch
APN 077-090-03
Parking
Garage Spaces 2
Parking Features Attached, Garage, Parking Pad
Attached Garage Yes
Exterior & Lot
Exterior Features Dog Run
Lot Features Landscaped, Level, Meadow, Pasture
Construction Other
Roof Composition
Foundation Other
Utilities & Systems
Heating Forced Air
Cooling Central Air
Financial
Annual Tax $12,592
Schools
Elementary School Spanish Springs
Middle School Sparks
High School Spanish Springs
📊

STR Investment Analysis

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

STR Investment Analysis

STR analysis
STRUCTURAL SCORE —
—
PROJECTED GROSS ANNUAL REVENUE
—
~— per month
Avg Nightly
—
Occupancy
—
Cap Rate
—

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

$32,613 per month
Principal & interest
$31,351/mo
Property taxes
$1,049/mo
The seller's current bill, from the MLS: a Nevada bill doesn't reset when a home sells.
HOA dues
$0/mo
From MLS listing data.
Home insurance
$213/mo
Estimated ~$2,100–$3,000/yr — get a local broker quote for accuracy.
Down payment
20% ($1,240,000)
Home price
$6,200,000
Loan details
30-yr fixed, 6.5%
Request a Tour

We'll contact you soon.

R
Real Estate Tahoe
Real Estate Agent

Send a Message