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For sale
  • $23,500,000

    Lost Heart Ranch Ennis Lake Rd, Mc Allister, MT 59740

    4beds
    13,842sqft
    : 
    Farm, Single Family Residence
    Built in 1972
    2,725.16 Acres Lot
    $-- Zestimate®
    $1,698/sqft
    $-- HOA

    What's special

    Diverse topographyPanoramic viewsEquestrian infrastructureProductive pastureLake frontageAgricultural productionRiparian corridors
    Located on the north shore of Ennis Lake in McAllister, Montana, this legacy property presents a rare opportunity to acquire just over 2,700+/- acres in one of Montana’s most desirable valleys. The offering combines lake frontage, agricultural production, equestrian infrastructure, conservation or development potential, and a fully operational commercial component. Showing by appointment only. A working ranch with residential, livestock, and infrastructure elements in place, Lost Heart Ranch anchors the entire offering. It is subdivided into 45 legal parcels, making if a great candidate for a conservation easement, possible development, and generational use. Includes 2,500± SF 4BD/3BA main residence (1994), 2,400± SF equipment shop with attached 2BD/1BA residence (2004), 3,100± SF livestock barn, and 1400± feet of lake frontage. A rare, turnkey 23.18 acre equestrian facility located on the lake, this component of the offering includes a 6,344+/- SF luxury home with a pool, lake frontage, and full horse infrastructure. The commercial asset of this property, Lake Shore Lodge offers a strong base for hospitality, storage, and lakefront access with expansion potential. Features 42 full-service RV sites (50 amp), office/store and bathhouse with laundry, 3 dry cabins and 3 additional 4 season rental cabins, room for employee housing, marina with 10 docks and seawall. 2 drain fields and 7 holding tanks with room for expansion. Excellent potential for income generation or private estate repurposing. With panoramic views in every direction—Lone Peak to the east, the Centennial Mountains to the south, and the rugged Tobacco Root Mountains to the west—the property features diverse topography including productive pasture, riparian corridors, and juniper-covered hillsides. Comprising three primary components—Lost Heart Ranch, Lake Shore Equestrian Estate, and Lake Shore Lodge—this property supports year-round ranching, recreation, and income generation, all just minutes from Ennis and under an hour to Bozeman.
    233 days
    |
    4,101
    |
    116
    |

    Zillow last checked: 7 hours ago

    Listing updated: March 16, 2026 at 10:26am

    Listed by:

    Chris Murphy 406-570-1555,

    Benchmark Real Estate Brokers,

    Dawn Myrvik 406-579-1298,

    PureWest Real Estate Ennis

    Source: Big Sky Country MLS,MLS#: 404797Originating MLS: Big Sky Country MLS

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 4
      • Bathrooms: 4
      • Full bathrooms: 4
      Appliances
      • Included: Built-In Oven, Dishwasher, Freezer, Disposal, Microwave, Range, Refrigerator, Washer
      Interior area
      • Total structure area: 13,842
      • Total interior livable area: 13,842 sqft
      • Finished area above ground: 0

      Property

      Parking
      • Total spaces: 4
      • Parking features: Attached, Garage
      • Attached garage spaces: 4
      Features
      • Levels: Two
      • Stories: 2
      • On waterfront: Yes
      • Waterfront features: Lake
      Lot
      • Size: 2,725.16 Acres
      • Features: Adjacent To Public Land, Level, Rolling Slope, Ranch
      • Topography: Level,Mountainous,Rolling,Sloping
      Details
      • Additional structures: Arena, Barn(s), Corral(s), Stable(s), Shed(s), Storage, Workshop
      • Additional parcels included: Legal Description * lengthy call Listing Agent for full legal
      • Parcel number: 0027075400
      • Zoning description: None/Unknown
      • Special conditions: None
      • Horse amenities: Arena, Corral(s), Hay Storage, Livestock Barn, Loafing Shed, Stock Pen(s), Stable(s), Tack Room

      Construction

      Type & style
      • Home type: SingleFamily
      • Property subtype: Farm, Single Family Residence
      Condition
      • Year built: 1972

      Utilities & green energy

      • Sewer: Septic Tank
      • Water: Well
      • Utilities for property: Electricity Connected, Fiber Optic Available, Propane, Septic Available

      Community & HOA

      HOA
      • Has HOA: No
      Location
      • Region: Mc Allister

      Financial & listing details

      • Price per square foot: $1,698/sqft
      • Annual tax amount: $17,645
      • Date on market: 8/8/2025
      • Cumulative days on market: 229 days
      • Listing terms: Cash,3rd Party Financing
      • Electric utility on property: Yes
      • Road surface type: Gravel
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        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        Price history
        DateEventPrice
        9/19/2025Listed for sale$23,500,000$1,698/sqft
        Source: Big Sky Country MLS #404797 Report a problem
        8/8/2025Pending sale$23,500,000$1,698/sqft
        Source: Big Sky Country MLS #404797 Report a problem
        8/8/2025Listed for sale$23,500,000$1,698/sqft
        Source: Big Sky Country MLS #404797 Report a problem

        Public tax history

        Public tax history
        Tax history is unavailable.

        BuyAbility℠ payment

        Est. payment
        $135,883/mo
        Principal & interest
        $127854
        Property taxes
        $8029
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          Climate risks

          Neighborhood: 59740

          Getting around

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          Car-Dependent
          18 / 100
          Somewhat Bikeable

          Nearby schools

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