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Recreational Land with Home for Sale in Shepherd, Montana

10052 Floating Island Way, Shepherd, MT 59079

$4,500,000
198 acres
Active sale
$700k drop
Est $22,454/mo

This unique property features a magnificent timbered home sited high above the Yellowstone River, offering a rare outlook and superb recreational opportunities. The views from the patios and master bedroom are breathtaking and ever-changing. The house is solidly built with exposed Douglas Fir beams and two stone chimneys, softened by many artistic touches. Fish Fry Lake boasts 7 acres of exciting fishing for you or the grandkids - from 6-pound largemouth bass and "boss" bluegills to dozens of panfish. Or just relax in a kayak and enjoy the sunset. Water quality is assured by maintenance-free floating islands. For the hunter, Fish Fry Lake attracts wood ducks, prized for their plumage. Deer hunting is exceptional, with high-scoring muleys and whitetail only minutes away. The private channel below the house provides accessible waterfowl opportunities. The property is licensed as a pheasant hunting preserve (Joy of Hunting) and supports acres of dryland or irrigated food plots, roosting cover and thermal mass. A mature heirloom orchard produces apples and pears, which are usually shared with neighbors or sold to the local cider mill. A separate 2-story cottage with 3-bay carport can house a property manager or guest overflow. Only 25 minutes from the amenities and convenience of Montana's largest community!

6,071
Sq feet
4
Beds
4
Full baths
1
1/2 bath
2000
Built

Location

Street address
10052 Floating Island Way
Community
Shepherd
Elevation
3,054 feet
Coordinates
45.9748, -108.245

Property details

Acreage
198.337 acres
MLS #
BAR 356127
Posted

Property taxes

Recent
$10,437

Parcels

  • D12651

Legal description

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

CategoryTypeStatus
GasPropaneConnected

Nearby schools

NameType
ShepherdElementary
ShepherdMiddle
ShepherdHigh

Listing history

DateEventPriceChangeSource
Feb 20, 2026Back on market$4,500,000BAR
Jan 10, 2026Under contract$4,500,000BAR
Jan 6, 2026Price drop$4,500,000$700,000 -13.5%BAR
Oct 17, 2025New listing$5,200,000BAR
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This 198.337-acre property is located at 10052 Floating Island Way in Shepherd, MT 59079. The property is available for sale for $4,500,000. It has a 6,071 sq ft 4 bedroom, 4 bath house built in 2000.

Checked 2 hours ago — Updated

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