Welcome to Cielo Encantado, an extraordinary Santa Fe compound newly returned to the market after a prior transaction did not proceed to closing through no fault of the seller. Now offered below appraised value, the property presents a rare opportunity to acquire immediate equity. The compound includes three residences: main house, guest house and casita. It is ideal for a family compound, second home in New Mexico, or a flexible ownership model where one or two residences may be rented when not in use. The main residence offers the substance and soul of adobe construction, with classic Southwestern lines, handcrafted wood detailing, and elements that speak to another era of Santa Fe living. It is not pretending to be new. It has history, presence, and original character that invites a thoughtful next chapter. A heated pool invites relaxed enjoyment beneath expansive skies, with views of both sunrise and sunset. The private well with generous capacity supports the residences, landscape, pool, and a return to equestrian or small farm use. The equestrian center adds a rare dimension, anchored by an indoor riding arena for riding, training, and use regardless of season or weather. The facilities offer compelling potential for equestrian use, yoga/spiritual retreat use, or an artist's working environment with room to create, store, and manage large-scale installation pieces. The horse facilities have generated steady income through multipurpose use, with separate access that allows this area to function independently from the residences. Longtime residents not found on any survey: the Great Horned Owl and the Ravens who have called this compound home for decades. Their presence gives the land quiet authority, as if the property has always known it was special. Cielo Encantado is a compound, a canvas, and a rare Santa Fe offering with scale, character, and possibility. Horse lovers will see the dream. Investors will see the opportunity. Visionaries see it.