Welcome to 48 Navajo Road -- a peaceful 4.75-acre riverfront retreat tucked near Navajo Lake and the Piedra River. With deeded ownership to the middle of the river and decreed irrigation water rights (.25 CFS from the Piedra River), this property offers true Colorado waterfront living with practical usability. Originally built in 1971 and expanded in 1991, the home blends classic mountain charm with a long list of meaningful improvements completed since the sellers purchased it in 2019. Inside, the 2-bedroom + loft, 2-bath home has been thoughtfully refreshed with updated kitchen cabinetry and center island, new wood laminate flooring, and a remodeled primary bath featuring tile and a handicap-accessible roll-in shower. Major systems have also been upgraded: most windows were replaced, the home's water lines were updated (galvanized piping replaced), and well components--including the pump and pressure tank--were replaced. A Culligan well filtration system was installed recently (with additional in-home reverse osmosis added previously), improving water quality and addressing common mineral/sulfur concerns in the area. Comfort is covered year-round with multiple efficient heat sources, including a newer wood stove, a newer free-standing natural gas stove, and a natural gas heater in the primary bedroom. The detached garage/workshop and the pump house/workshop spaces are also heated with natural gas, and natural gas service is available through Black Hills Energy. Outside, the property is set up for function and flexibility with a heated detached two-car garage, a pump house that doubles as a workshop, a "She Shed" near the river, plus a newer barn/ag building and a double-vehicle carport. Enjoy mornings on the wraparound redwood deck, evenings under the stars, and the kind of privacy that's getting harder to find this close to the lake, river, and Navajo State Park. Located in the Ignacio School District--this is a rare combination of river frontage, water rights, and substantial improvements already completed. Recent septic improvements have been completed, and the associated documentation is finished and available--making this an easier, cleaner transaction from day one.