
Recreational Land with Home for Sale in Shepherd, Montana
10052 Floating Island Way, Shepherd, MT 59079
This stunning and luxurious property features a magnificent custom timbered home sited high above the Yellowstone River, offering panoramic views and exceptional recreational opportunities. The breathtaking and ever-changing views from the spacious patios and executive master bedroom are truly spectacular. The house is solidly built with exposed Douglas Fir beams and two stone chimneys. Fish Fry Lake boasts 7 acres of premium fishing from 6-pound largemouth bass and "boss" bluegills to dozens of panfish. Water quality is assured by maintenance-free floating islands. For the hunter, this private lake attracts wood ducks, prized for their exquisite plumage.Deer hunting is exceptional, with high-scoring muleys and whitetail only minutes away. The exclusive private channel below the house provides accessible waterfowl opportunities. The property is licensed as a prestigious pheasant hunting preserve (Joy of Hunting) and supports acres of dryland or irrigated food plots, roosting cover and thermal mass. A mature gourmet heirloom orchard produces apples and pears, which are usually shared with neighbors or sold to the local cider mill. A separate updated 2-story cottage with 3-bay carport can house a property manager or guest overflow. Only 25 minutes from the modern amenities and convenience of Montana's largest community!
Location
- Street address
- 10052 Floating Island Way
- County
- Yellowstone County
- Community
- Shepherd
- Elevation
- 3,054 feet
Property details
- Acreage
- 198.337 acres
- MLS #
- BAR 356127
- Posted
Property taxes
- Recent
- $10,437
Parcels
- D12651
Legal description
S28, T03 N, R28 E, C.O.S. 3105, PARCEL 1; S28, T03 N, R28 E, C.O.S. 2751, PARCEL 3B, AMD (25)
Details and features
Listing
- Type
- Residential
- Franchise
- Coldwell Banker Real Estate
Lot
- Waterfront
- River Front, Waterfront
- Features
- Landscaped, Pond On Lot, Secluded, Trees, Views
Exterior
- Parking
- Carport, Garage, Open
- Fencing
- Fenced
- Pool
- Patio
- Structures
- Gazebo, Storage
- Features
- Fence, Sprinkler Irrigation
Structure
- Stories
- 2
- Sewer
- Septic Tank
- Heating
- Propane
- Cooling
- Central Air
- Materials
- Stucco
- Roof
- Tile
- Windows
- Skylight(s)
Interior
- Rooms
- Basement, Bathroom x 5, Bedroom x 4
- Fireplaces
- Yes
- Appliances
- Cooktop, Dishwasher, Electric Range, Microwave, Oven, Range, Refrigerator
- Features
- Pantry, Skylights, Window Treatments
Property utilities
| Category | Type | Status |
|---|---|---|
| Gas | Propane | Connected |
Nearby schools
| Name | Type |
|---|---|
| Shepherd | Elementary |
| Shepherd | Middle |
| Shepherd | High |
Listing history
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| May 19, 2026 | Price drop | $3,900,000 | $600,000 -13.3% | BAR |
| Feb 20, 2026 | Back on market | $4,500,000 | — | BAR |
| Jan 10, 2026 | Under contract | $4,500,000 | — | BAR |
| Jan 6, 2026 | Price drop | $4,500,000 | $700,000 -13.5% | BAR |
| Oct 17, 2025 | New listing | $5,200,000 | — | BAR |



































