Cheap homes for sale & real estate in 87549, NM

20 homes

Sort:

Recommended

VIDEO TOUR

ABOUT THIS HOME
Cheap Home for sale in 87549, NM:
PRIME INVESTMENT OR DESERT RETREAT | MINUTES FROM OJO CALIENTE RESORT. Welcome to your high-desert sanctuary, tucked into the peaceful, exceptionally quiet Ojo Caliente valley. Just 2.3 miles from the world-famous Mineral Springs Resort & Spa, this versatile 3-bed, 2-bath home sits on a generous 0.75-acre lot, offering a serene country lifestyle with easy access to major hubs. INCOME POTENTIAL A flexible floor plan allows the home to be divided into two separate units — ideal for dual short-term rental income or multi-generational living. Located in a sought-after neighborhood with limited housing inventory. No zoning restrictions. TURN-KEY INTERIOR Newly refinished hardwood f

$419,500

3 beds2 baths1,518 sq ft

21 County Road 177, Ojo Caliente, NM 87549

Expansive yard • Sizable storage shed • Attached home office

ABOUT THIS HOME
Cheap Home for sale in 87549, NM:
This stunning one-acre parcel in the Monte de Luz Subdivision offers beautiful mountain views and a peaceful, secluded setting. Perfect for building your dream home or as an investment opportunity, this lot provides the ideal blend of tranquility and convenience. Enjoy the serene, rural atmosphere with star-filled skies at night, while still being just a short drive from Espanola and an easy commute to Los Alamos and Santa Fe. A rare find for those seeking both privacy and accessibility!

$45,000

Land1.05 acres (lot)

18 Sparrow Ln Unit 7-C, Ojo Caliente, NM 87549

Secluded setting • Mountain views

ABOUT THIS HOME
Cheap Home for sale in 87549, NM:
Spanning 6.11 acres, this lot features multiple prime building sites situated in a fantastic location with stunning vistas. Utility connections are accessible with the electric system nearby, and neighboring properties successfully utilize water wells. The terrain is also well-suited for solar applications, which could be an integral component of new construction. The property offers exceptional building sites with breathtaking 360-degree views of the surrounding landscape. To the west, the panorama includes the Rio Chama River Valley, the majestic Pedernal, and the expansive mesas past the Abiquiu Reservoir. Vistas of Sierra Negra and Plaza Blanca are visible to the northwest, while the no

$36,671

Land6.11 acres (lot)

TBD Laredowood Dr, Abiquiu, NM 87510

Utility connections • Water wells

ABOUT THIS HOME
Cheap Home for sale in 87549, NM:
Spanning 13.27 acres, this lot features multiple prime building sites situated in a fantastic location with stunning vistas. Utility connections are accessible with the electric system nearby, and neighboring properties successfully utilize water wells. The terrain is also well-suited for solar applications, which could be an integral component of new construction. The property offers exceptional building sites with breathtaking 360-degree views of the surrounding landscape. To the west, the panorama includes the Rio Chama River Valley, the majestic Pedernal, and the expansive mesas past the Abiquiu Reservoir. Vistas of Sierra Negra and Plaza Blanca are visible to the northwest, while the n

$59,736

Land13.27 acres (lot)

TBD Bridle Trl, Abiquiu, NM 87510

Solar applications • Abiquiu reservoir • Majestic pedernal

ABOUT THIS HOME
Cheap Home for sale in 87549, NM:
Nestled in the breathtaking landscape of Ojo Caliente, these exceptional vacant lots present a rare opportunity to own more than 29 acres bordering BLM land in one of Northern New Mexico’s most desirable destinations. Ideally located just one hour from both Santa Fe and Taos, the property offers the perfect balance of peaceful seclusion and convenient access to renowned art, culture, dining, and outdoor recreation. This unique offering consists of four individual parcels totaling over 29 acres: • Lot 1 – 3.812 acres • Lot 2 – 3.386 acres • Lot 3 – 3.41 acres • Lot 4 – 19.29 acres Each lot is equipped with electricity, telephone access

$85,250

Land3.41 acres (lot)

03 Ray Rd, Ojo Caliente, NM 87549

Geothermal potential • Two shared wells • Hot water production

Property at 02 Ray Rd, Ojo Caliente, NM 95749

$84,650

Land3.39 acres (lot)

02 Ray Rd, Ojo Caliente, NM 95749

Property at Tract 16-E Corona Dr, Medanales, NM 87548

$37,900

Land10.02 acres (lot)

Tract 16-E Corona Dr, Medanales, NM 87548

Property at 20 acres Mile Marker 359 Hwy 285, Ojo Caliente, NM 87549

$75,000

Land20.13 acres (lot)

20 acres Mile Marker 359 Hwy 285, Ojo Caliente, NM 87549

Property at TBD LOT 3 Juniper Rd, Ojo Caliente, NM 87549

$42,000

Land10.00 acres (lot)

TBD LOT 3 Juniper Rd, Ojo Caliente, NM 87549

Property at LOT 4 TBD Us Hwy 285, Ojo Caliente, NM 87549

$180,000

Land8.07 acres (lot)

LOT 4 TBD Us Hwy 285, Ojo Caliente, NM 87549

Property at 05 Ray Rd, Ojo Caliente, NM 87549

$385,800

Land19.29 acres (lot)

05 Ray Rd, Ojo Caliente, NM 87549

Property at Lot 30 Cerrito De Baca, Ojo Caliente, NM 87549

$82,000

Land5.77 acres (lot)

Lot 30 Cerrito De Baca, Ojo Caliente, NM 87549

Property at 1 Corona Dr, Medanales, NM 87548

$49,000

Land10.07 acres (lot)

1 Corona Dr, Medanales, NM 87548

Property at Lot 1 Indian Ridge Rnch, Medanales, NM 87548

$95,000

Land12.76 acres (lot)

Lot 1 Indian Ridge Rnch, Medanales, NM 87548

Property at TBD Highway 285, Ojo Caliente, NM 87549

$100,000

Land18.18 acres (lot)

TBD Highway 285, Ojo Caliente, NM 87549

Property at TBD LOT 28 Lakewood Dr, Medanales, NM 87548

$89,900

Land10.00 acres (lot)

TBD LOT 28 Lakewood Dr, Medanales, NM 87548

Property at Lots 37,38,39 Block 45, Medanales, NM 87548

$23,500

Land1.50 acres (lot)

Lots 37,38,39 Block 45, Medanales, NM 87548

Property at 01 Ray Rd, Ojo Caliente, NM 87549

$95,300

Land3.81 acres (lot)

01 Ray Rd, Ojo Caliente, NM 87549

Property at 40 acres Mile Marker 359 Hwy 285, Ojo Caliente, NM 87549

$105,000

Land40.13 acres (lot)

40 acres Mile Marker 359 Hwy 285, Ojo Caliente, NM 87549

Property at 00 Vacant Land, Ojo Caliente, NM 87549

$270,000

Land63.96 acres (lot)

00 Vacant Land, Ojo Caliente, NM 87549

Viewing page 1 of 1

End of results

Nearby homes that match your criteria

ABOUT THIS HOME
Cheap Home for sale in 87549, NM:
Unique adobe and concrete block home with stunning mountain views and versatile living space. Features include hardwood and tile flooring, vigas, an updated kitchen with granite countertops, knotty hickory cabinetry, walk-in pantry, and Energy Star appliances. The main level offers a spacious bedroom, full bath, and walk-in closet. Upstairs loft showcases incredible views with an additional walk-in closet and ¾ bath. The finished walk-out basement includes a kitchenette, bedroom, ¾ bath, laundry area, and abundant storage--ideal for guests, multigenerational living, or rental potential. Radiant heat, wood-burning fireplace, and plenty of space for RV or motor coach parking com

$375,000

3 beds3 baths2,725 sq ft

10 New Mexico State Rd #233, Medanales, NM 87548

Hardwood flooring • Tile flooring • Updated kitchen

ABOUT THIS HOME
Cheap Home for sale in 87549, NM:
Unique adobe and concrete block home with stunning mountain views and versatile living space. Features include hardwood and tile flooring, vigas, an updated kitchen with granite countertops, knotty hickory cabinetry, walk-in pantry, and Energy Star appliances. The main level offers a spacious bedroom, full bath, and walk-in closet. Upstairs loft showcases incredible views with an additional walk-in closet and 3/4 bath. The finished walk-out basement includes a kitchenette, bedroom, 3/4 bath, laundry area, and abundant storage--ideal for guests, multigenerational living, or rental potential. Wood-burning fireplace, and plenty of space for RV or motor coach parking complete this exceptional p

$375,000

3 beds3 baths2,382 sq ft

10 New Mexico State Rd 233, Medanales, NM 87548

Hardwood flooring • Tile flooring • Updated kitchen

ABOUT THIS HOME
Cheap Home for sale in 87549, NM:
Step into the charm and character of Northern New Mexico with this unique 3-bedroom, 1-bath adobe home nestled in the peaceful community of Velarde. Situated on approximately 0.46 acres, this 1,333-square-foot residence blends historic Pueblo-style architecture with the tranquility of country living. Built in 1939, the home features classic Southwestern appeal, a welcoming covered porch, and a private courtyard portal perfect for enjoying breathtaking sunsets and star-filled skies. The spacious lot offers ample room for gardening, hobby farming, outdoor entertaining, or future improvements. Conveniently located along the scenic Rio Grande corridor, this property offers easy access to Espa&n

$275,000

3 beds1 bath1,333 sq ft

143 County Rd 51, Velarde, NM 87582

Covered porch • Easy access to taos • Spacious lot

3D WALKTHROUGH

ABOUT THIS HOME
Cheap Home for sale in 87549, NM:
Welcome home to 1.5 acres of Northern New Mexico beauty, with sweeping mesa and mountain views right from your front yard. This 1,965 sq ft manufactured home offers 4 bedrooms, 2 bathrooms, and a smart split floor plan that keeps the primary suite private from the additional bedrooms. Step inside to an open concept kitchen, dining, and living area featuring a butcher block kitchen island, stylish pendant lighting, and beam accented ceilings. Cozy up to not one, but TWO fireplaces. A wood burning stove sits on a stacked stone hearth in the main living area, while a sleek built in electric fireplace warms the additional living space with a bold black accent wall. Both are perfect for chilly A

$420,000

4 beds2 baths1,971 sq ft

11 Unicorn, Abiquiu, NM 87510

Soaking tub • Stacked stone hearth • Two fireplaces

ABOUT THIS HOME
Cheap Home for sale in 87549, NM:
Experience the charm of traditional Northern New Mexico living at 15 Private Drive 1684 in El Rito. This inviting 2-bedroom, 1-bath adobe home showcases timeless regional character with authentic adobe walls, warm brick floors, and classic architectural details throughout. Designed to embrace the surrounding landscape and natural light, the home features two separate enclosed sunrooms, offering flexible spaces to relax, garden indoors, entertain, or enjoy year-round sunshine. And two additional flex rooms/offices provide the perfect setup for remote work, creative pursuits, guest overflow, or a hobby space. Blending traditional character with modern efficiency, the property is also equipped

$430,000

2 beds1 bath2,650 sq ft

15 Private Drive 1684, El Rito, NM 87530

Warm brick floors • Solar panels • Surface water rights

ABOUT THIS HOME
Cheap Home for sale in 87549, NM:
Adorable adobe single-level home located in Velarde, on approximately one acre of land. This 3-bedroom, 2-bath property offers approximately 1,100 square feet of comfortable living space with a relaxed country feel. Featuring classic Adobe construction with interior Santa Fe style features, beautiful ceilings with vigas and latillas. Enjoy outdoor living on the patio, perfect for relaxing or entertaining amid peaceful surroundings and taking in the magnificent views in all directions. The property is fully fenced and includes landscaping with a few trees and grape vines, plenty of space for additional gardening or outdoor projects. Storage sheds offer excellent storage or workshop potential

$359,000

3 beds2 baths1,100 sq ft

20 Private Drive 1073, Velarde, NM 87582

Fully fenced • Single level home • Magnificent views

Property at 1216 State Rd 554, El Rito, NM 87530, 1 bed, 1 bath

$85,000

1 bed1 bath684 sq ft

1216 State Rd 554, El Rito, NM 87530

Property at 272 State Road 75, Dixon, NM 87527, 2 beds, 2 baths

$349,000

2 beds2 baths1,300 sq ft

272 State Road 75, Dixon, NM 87527

Property at 47 Private Drive 1521, Hernandez, NM 87537, 3 beds, 2 baths

$305,000

3 beds2 baths1,440 sq ft

47 Private Drive 1521, Hernandez, NM 87537

Property at 1183 Main St, El Rito, NM 87530, 2 beds, 1 bath

$265,000

2 beds1 bath1,600 sq ft

1183 Main St, El Rito, NM 87530

Property at 458 County Road 1, Espanola, NM 87532, 3 beds, 3 baths

$375,000

3 beds3 baths1,998 sq ft

458 County Road 1, Espanola, NM 87532

Property at 0 County Road 41, Velarde, NM 87582

$100,000

Land1.00 acre (lot)

0 County Road 41, Velarde, NM 87582

Property at TBD Private Dr 1034e, Alcalde, NM 87511

$60,000

Land1.25 acres (lot)

TBD Private Dr 1034e, Alcalde, NM 87511

Property at A-2-D County Road 41, Velarde, NM 87582

$100,000

Land1.18 acres (lot)

A-2-D County Road 41, Velarde, NM 87582

Property at A-1-D County Road 41, Velarde, NM 87582

$150,000

Land2.11 acres (lot)

A-1-D County Road 41, Velarde, NM 87582

Property at A-1-C County Road 41, Velarde, NM 87582

$125,000

Land1.77 acres (lot)

A-1-C County Road 41, Velarde, NM 87582

Property at A-1-A1 County Road 41, Velarde, NM 87582

$100,000

Land1.53 acres (lot)

A-1-A1 County Road 41, Velarde, NM 87582

Property at A-2-A1 County Road 41, Velarde, NM 87582

$350,000

Land20.63 acres (lot)

A-2-A1 County Road 41, Velarde, NM 87582

Property at 1378 State Rd 68, Velarde, NM 87582

$174,000

Land2.04 acres (lot)

1378 State Rd 68, Velarde, NM 87582

Property at TBD County Rd 56, Chamita, NM 87566

$410,000

Land14.65 acres (lot)

TBD County Rd 56, Chamita, NM 87566

Cheap Homes for Sale in 87549

There are currently 20 cheap homes for sale in 87549 at a median listing price of $472K. Some of these homes are "Hot Homes," meaning they're likely to sell quickly. Most homes for sale in 87549 stay on the market for 116 days. This map is refreshed with the newest listings in 87549 every 15 minutes.

In the past month, 2 homes have been sold in 87549. In addition to houses in 87549, there was also 1 condo, 0 townhouses, and 0 multi-family units for sale in 87549 last month. Find your dream home in 87549 using the tools above. Use filters to narrow your search by price, square feet, beds, and baths to find homes that fit your criteria. Our top-rated real estate agents in 87549 are local experts and are ready to answer your questions about properties, neighborhoods, schools, and the newest listings for sale in 87549. If you're looking to sell your home in the 87549 area, our listing agents can help you get the best price. Redfin is redefining real estate and the home buying process in 87549 with industry-leading technology, full-service agents, and lower fees that provide a better value for Redfin buyers and sellers.

More real estate resources for 87549, NM

Nearby Zip Codes

Cities

Nearby Zip Codes with Cheap Homes

Nearby Cities with Cheap Homes

More to explore in 87549, NM

How to buy a house in 87549, NM

How much house can I afford?

How to buy a house in 10 steps

First-time homebuyer's guide

See more home buying guides

Popular Markets in New Mexico

Download the Redfin App on the Apple App Store

Download the Redfin App from the Google Play Store

Join us

Become an Agent

Get referrals

Careers

Find homes faster

About us

Find us

Subsidiaries

Affiliated Business

Countries

United States

Canada

Updated September 2025: By searching, you agree to the Terms of Use, and Privacy Policy.

Do not sell or share my personal information.

REDFIN and all REDFIN variants, WALK SCORE, and the R logos, are trademarks of Redfin Corporation, registered or pending in the USPTO.

California DRE #01521930

Redfin is licensed to do business in New York as Redfin Real Estate. NY Standard Operating Procedures

New Mexico Real Estate Licenses

TREC: Info About Brokerage Services, Consumer Protection Notice

All mortgage lending products and information are provided by Rocket Mortgage, LLC | NMLS #3030; www.NMLSConsumerAccess.org. Licensed in 50 states. This site is not authorized by the New York State Department of Financial Services for mortgage solicitation or loan applications activities related to properties located in the State of New York.

Redfin Corporation is an affiliated business of Rocket Limited Partnership. Each company, and their subsidiaries, are separate legal entities operated and managed through its own management and governance structures.

If you are using a screen reader, or having trouble reading this website, please call Redfin Customer Support for help at 1-844-759-7732.

REDFIN IS COMMITTED TO AND ABIDES BY THE FAIR HOUSING ACT AND EQUAL OPPORTUNITY ACT. READ REDFIN'S FAIR HOUSING POLICY AND THE NEW YORK STATE FAIR HOUSING NOTICE.