VA ASSUMABLE LOAN under 3 percent! Meticulously maintained and fully fenced gentleman's ranch has picturesque views, stunning landscapes, and beautiful home. This 5-acre property truly has it all! With 20 acre feet of deeded water rights, the 3.5 acres of alfalfa in production produce an average of 3 cuts per year. To accompany the hay, there is a metal barn that will fit about 240 bales. The horse corral features multiple pens and a 12x12 covered shelter, along with cattle holding and loading shoots. There's a tack shed with power and a wash station for horses with a concrete pad. To make life easier, a trailer and semi-truck can fully drive around the entire property and fill up using either the 250 gallon gas fuel tank or 300 gallon diesel fuel tank. If you need extra storage, the 10x20 metal garage is a perfect place for a workshop. When not working, enjoy the wrap around covered patio where you can watch the sun rise from the front of the house, and the sun set in the backyard. Summer nights can be enjoyed by the firepit. Inside you'll be welcomed with a cozy 5 bedroom, 3 full bathroom home that is updated, clean, and move in ready. Additional notes: 50 year roof with transferable warranty installed 1 year ago, exterior paint 2 years ago, chicken coop can convey, TVs and wall mounts can stay, electrical box on site if buyer wants to build an ADU, shop, garage, etc. Seller has an ASSUMABLE VA Loan, inquire with listing agent on details.
Single-familyProperty Type
2000Year Built
5 acresLot Size
$535Price/Sq.Ft.
2 garage spacesParking
Listed by Kaycee Summers•DRE #BS.146711• Dickson Realty - Gardnerville
Bought with Christian Giller•DRE #S.195320• RE/MAX Gold
Est. $3,272 per month, based on comparable rentals
Sale and tax history for 540 Upper Colony Rd
Sale History
Tax History
Date
Event
Price
NNRMLS #260004049
Jul 23, 2026
Sold
$945,000
$535/sq ft
Jun 20, 2026
Contingent
—
May 16, 2026
Price Changed
$949,900
$537/sq ft
Apr 7, 2026
Listed
$975,000
$551/sq ft
NNRMLS #250050553
Sep 30, 2025
Listing Removed
—
Aug 13, 2025
Price Changed
$899,000
$508/sq ft
Aug 9, 2025
Price Changed
$940,000
$532/sq ft
Jun 13, 2025
Price Changed
$950,000
$537/sq ft
May 28, 2025
Listed
$975,000
$551/sq ft
NNRMLS #190005532
Dec 12, 2019
Sold
$385,000
$218/sq ft
Nov 15, 2019
Contingent
—
Aug 22, 2019
Price Changed
$379,900
$215/sq ft
Jul 29, 2019
Relisted
—
Jun 24, 2019
Contingent
—
Jun 19, 2019
Price Changed
$399,900
$226/sq ft
Apr 24, 2019
Listed
$419,900
$238/sq ft
+20
This clean Smith Valley home has 20 acre feet of primary underground water rights for irrigating and almost 5 acres of field currently growing alfalfa hay. The interior has new stainless range, dishwasher and refrigerator, new granite counters throughout, tile back splash, completely repainted, new laminate throughout common areas and new carpet in bedrooms. Most lighting has been replaced with LED. The exterior has new windows and was painted in 2018, detached 1 car garage/shop and fenced yard. , The 5 acres allows plenty of room for horses, toys or what ever somone can think of. Home is right next to the canal and has amazing mountain views while having plenty of privacy.
Public Records
Sep 22, 2017
Sold
$260,000
$147/sq ft
NNRMLS #140004752
Nov 11, 2014
Listing Removed
—
Nov 11, 2014
Listing Removed
—
Apr 14, 2014
Listed
$299,900
$170/sq ft
NNRMLS #70008618
Jul 30, 2007
Listing Removed
—
Apr 23, 2007
Listed
$359,900
$204/sq ft
NNRMLS #60018769
Apr 24, 2007
Listing Removed
—
Jul 14, 2006
Listed
$450,000
$255/sq ft
Public Records
Apr 16, 2004
Sold
$295,000
$167/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$2,115 (+1.5%)
$57,750 + $60,321
$118,071
2024
$2,082 (−17.3%)
$66,500 + $60,945
$127,445
2023
$2,518 (+3.9%)
$66,500 + $57,099
$123,599
2022
$2,423 (+3.5%)
$38,500 + $53,146
$91,646
2021
$2,342 (+2.9%)
$23,625 + $51,984
$75,609
2020
$2,275 (+2.9%)
$23,630 + $49,646
$73,276
2019
$2,210 (+5.6%)
$23,630 + $47,967
$71,597
2018
$2,093 (+4.3%)
$14,700 + $46,802
$61,502
2017
$2,007 (+2.7%)
$14,700 + $46,939
$61,639
2016
$1,954 (+3.7%)
$12,290 + $47,927
$60,217
2014
$1,884
$9,830 + $46,757
$56,587
Public record
Public record
Zoning
Beds
5
Baths
3
Stories
—
Lot width
—
Lot depth
—
Lot size
5 Acres
Year renovated
—
Sq. Ft.
1,768
Year built
2000
Style
Single Family Residential
County
Lyon County
APN
009-191-08
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 24, 2026.
RR-5
Rural Residential District
This zone is intended to promote the development of single-family detached units at a density and character compatible with agricultural and other rural and suburban fringe uses with a minimum lot size of 5 gross acres. Unless otherwise specified in this development code, no more than one primary residence per parcel is permitted in this zoning district. The RR-5 zone implements the Rural Residential land use designation of the Master Plan in Rural Character districts.