Rare adobe homestead with water rights in the heart of the Peñasco Valley. Set on 1 private acre at the end of Roybal Road, this authentic Territorial-style home offers a combination that is increasingly difficult to find in Northern New Mexico: adobe construction, a private well, adjudicated irrigation water rights, usable land, and peaceful rural privacy. The 3-bedroom, 2-bath home was handcrafted in the traditional Northern New Mexico style, featuring thick adobe walls, reclaimed vigas and beams, and abundant natural light with southern exposure. A pitched metal roof installed in 2015 adds long-term durability and low-maintenance peace of mind. The land is well-suited for gardening, orchards, hobby farming, horses, or simply enjoying a more self-sufficient lifestyle. Expansive skies, natural drainage, and quiet surroundings create an ideal setting for outdoor living, creative retreat, or seasonal escape. Located along the scenic High Road to Taos, the property is approximately 40 minutes to Taos, 60 minutes to Santa Fe, 15 minutes to Sipapu Ski Area, and near the wineries and galleries of Dixon and surrounding mountain communities. A rare opportunity to own a true Northern New Mexico adobe with land, water, and room to breathe.