Madrid Homes under $500,000

Welcome to Madrid, New Mexico – a charming village nestled in the heart of Santa Fe County, where the spirit of the Old West meets a vibrant arts community. Once a bustling mining town, Madrid has transformed into a haven for artists, musicians, and nature lovers alike. With its picturesque landscapes and rich history, Madrid offers a unique blend of cultural heritage and modern living.

As you wander through the charming streets, you’ll find an eclectic mix of galleries, boutiques, and cozy cafes, all set against the backdrop of stunning high desert scenery. The community is known for its warm, welcoming atmosphere, making it the perfect place to call home. Outdoor enthusiasts will revel in the nearby hiking trails, mountain biking, and the breathtaking vistas of the Sandia Mountains.

For those seeking affordable housing options, Madrid has a delightful selection of homes available for under $500,000. Whether you’re looking for a quaint adobe-style cottage or a modern retreat with artistic flair, there’s something to suit every taste and budget. These homes not only offer a comfortable living space but also the opportunity to immerse yourself in a community that celebrates creativity and connection.

Living in Madrid means embracing a lifestyle filled with artistic inspiration, outdoor adventures, and a close-knit community. With its affordable housing options and enchanting charm, Madrid, NM, is the perfect place to find your dream home and experience the magic of this unique village. Come discover the hidden gem of New Mexico, where your new life awaits!

Newest Madrid Homes under $500,000

$235,000

2 Beds ⋅ 2 Baths ⋅ 202604380 MLS

The property includes two structures. the old rail car at the bottom of the property and the main house. The main house has Hardwood floors, a newer propane stove and a newer refrigerator and newer cabinets ready to be installed. The owner couldn't finish the renovation. The roof is metal and the home includes radiant heat through the bottom floor. The propane is leased and the electricity is currently turned off. The water is connected and is supplied by the Madrid water company through a membership; it is 46.00 a month. There is a Madrid Landowners association, and the fee is 50.00 a year. There are two septic systems, one for each structure. The bathroom floor near the railcar is not safe. Please use extreme caution when looking at this structure. Be Careful. The home is being presented in its current condition. This is a fixer upper, and the seller will not make any repairs. The photos for this listing show the current condition and virtual photos.

4 Ice House Road, Madrid

$410,000

2 Beds ⋅ 1 Baths ⋅ 202602489 MLS

A potentially commercial/residential property in heart of the popular artist and entertainment tourist destination, Madrid New Mexico is right on the Turquoise Trail National Scenic Byway, Hwy 14. Property is perfectly situated for a vacation rental, retail/gallery or home. Covered front porch entrance into a spacious and sunlit front room-gallery, kitchen, bathroom, bedroom, and a back room that could be a second bed room or an office. Basement area, sun room and yard.. 23 miles from Santa Fe, Madrid attracts visitors from both Santa Fe and Albuquerque as well as National and International tourists and is famous for its many unique shops and galleries, Christmas light display, 4th of July and Christmas Parades, and Maggie's Diner biker photo op and Wild Hogs movie memorabilia. There are two restaurants within a ten minute walk, Owner may finance with acceptable down payment of $143,500 at 7%.

2872 Nm 14, Madrid

$450,000

3 Beds ⋅ 2 Baths ⋅ 202600581 MLS

This inviting Madrid townsite property blends historic character with modern updates, featuring an upgraded kitchen and a detached guest house complete with a full bath and kitchenette, currently serving as a rental. It’s an ideal fit for a homeowner seeking rental income, a private studio, or a strong investment opportunity. Originally one of Madrid’s miner cabins, the main home has been lovingly restored and thoughtfully expanded to include two upstairs bedrooms. The living room and kitchen retain their original hardwood floors, complemented by a wood stove, gas range, granite countertops, and a passive-solar dining area with Saltillo tile. Newer metal ProPanel roof. The detached casita—an original stone-and-stucco structure—sits well behind the main house with its own private access and parking off Backroad. It is currently rented and equipped with separate sub-meters and a second water co-op hookup, offering immediate income potential. The main house includes a well-planned laundry room with added storage, while the guest house features its own stackable washer/dryer. Additional storage is available in the outbuilding and walk-in crawl space. A fenced yard provides shade and a secure space for pets. From the classic front porch, enjoy views of the vibrant historic village and the scenic Turquoise Trail. The location offers easy walkability to restaurants, galleries, and the general store, with Cerrillos State Park nearby and convenient access to both Santa Fe and Albuquerque

1 Opera House Road, Madrid

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The data relating to real estate for sale in this web site comes in part from the Internet Data exchange ("IDX") program of SFAR MLS, Inc. Real estate listings held by brokers other than Keller Williams are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the SANTA FE ASSOCIATION OF REALTORS®.