INCREDIBLE BUYER OPPORTUNITY; NEW PRICE! Seller is offering a premium 2-1
interest rate buydown to significantly lower your mortgage payments for the first two years! (Subject to lender guidelines and an acceptable contract).
BACKS NATIONAL FOREST • 1.33 ACRES • OVER 4,000 SQ. FT. • UNIVERSAL
ACCESSIBILITY (ADA COMPLIANT) • 3 BEDROOMS + MEDIA/OFFICE ROOM • SUNROOM• OVER 800 SQ. FT. PORCH and DECK
Discover a rare combination of massive space, absolute privacy, and seamless National Forest living at 862 Dreamy Draw Circle. Priced to sell at $1,099,000, this impressive Show Low mountain estate offers the serenity and elbow room buyers crave--with a nominal HOA fee of
just $86/year, entirely bypassing the high costs and strict rules of gated golf communities. THE SETTING :UNMATCHED OUTDOOR LIVING:
What truly sets this property apart is the unparalleled setting and spectacular outdoor living
space. Situated on 1.33 beautifully landscaped acres backing directly to the National Forest, you
can step out onto an expansive 800+ square foot back porch and deck to enjoy panoramic
forest views, abundant wildlife, and the peaceful surroundings of the White Mountains. A private, keypad-gated entrance ensures total security. Exceptional capital improvements offer
absolute peace of mind, including high-end Andersen windows and doors, a freshly painted interior (2026), and a brand-new premium metal roof installed by Collier's Roofing in 2025.
THE LIVING SPACE:COMFORT ACCESSIBILITY:
With over 4,000 sq. ft. of masterfully designed living space, this home provides an exceptional layout for family, guests, and grand-scale entertaining. A grand foyer leads to an impressive great room featuring soaring tongue-and-groove vaulted ceilings, expansive windows, and a dramatic floor-to-ceiling custom flagstone fireplace highlighted by a distinctive burl wood mantel. The home is mindfully built with Universal Design/ADA-compliant features throughout, offering extra-wide 36-inch doorways accessing the main living spaces and
bedrooms for effortlessly smooth navigation. The spacious kitchen was designed for gathering,offering abundant custom cabinetry, a large center island, generous counter space, and two distinct dining areas. A wet bar adjoining the living area provides the perfect setup for hosting, while a beautiful Sunroom offers a light-filled space to relax and take in the forest views year-round.
ACCOMMODATIONS:
· The Luxury Primary Suite: A massive private retreat featuring a comfortable sitting area overlooking the peaceful forest, a convenient coffee/wet bar, and an oversized walk-
in closet. The luxurious bath features dual vanities, abundant storage, and a zero-threshold roll-in tile shower complete with premium handicap-accessible features.
· Guest Suites: Includes two additional spacious guest bedrooms. A second fully accessible bathroom boasts its own roll-in shower and custom assistance features, ensuring maximum comfort for multi-generational living or guests.
· The Media/Office Room: A versatile, separate media space perfectly suited for movie nights, a home gym, or an executive office layout. Lovingly maintained as a second home by its original owner, this residence demonstrates
flawless pride of ownership. For the buyer seeking substantial acreage, over 4,000 sq. ft. of pristine living space, incredible deck space, a private gated entrance, and the National Forest as your permanent backyard neighbor, Dreamy Draw offers something increasingly impossible to find.
This newly reduced price will not last--schedule your private showing today and experience this true mountain estate for yourself.
For sale
Price cut: $40K (10/1)
$1,099,000
862 DREAMY DRAW Circle, Show Low, AZ 85901
3beds
4,361sqft
Single Family Residence
Built in 2005
1.31 Acres Lot
$-- Zestimate®
$252/sqft
$7/mo HOA
What's special
Private keypad-gated entranceSpacious kitchenTwo distinct dining areasLuxury primary suiteLight-filled spaceBacks national forestExpansive windows
- 155 days
- 441
- 18
Zillow last checked:
Listing updated:
Listed by:
Stephen Leonard 602-525-6193,
HomeSmart
Source: ARMLS,MLS#: 7026703

Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 4
- Full bathrooms: 3
- 1/2 bathrooms: 1
Heating
- Propane
Cooling
- Gas, Central Air, Ceiling Fan(s)
Appliances
- Included: Refrigerator, Built-in Microwave, Dishwasher, Disposal, Electric Range, Electric Cooktop, Built-In Electric Oven
- Laundry: Inside
Features
- Granite Counters, Double Vanity, Breakfast Bar, 9+ Flat Ceilings, Central Vacuum, No Interior Steps, Vaulted Ceiling(s), Wet Bar, Kitchen Island, Pantry, Full Bth Master Bdrm, Separate Shwr & Tub
- Flooring: Carpet, Tile
- Windows: Screens, Skylight(s), Double Pane Windows
- Has basement: No
- Number of fireplaces: 1
- Fireplace features: Family Room, Gas
Interior area
- Total structure area: 4,361
- Total interior livable area: 4,361 sqft
Property
Parking
- Total spaces: 3
- Parking features: Attached, Garage Door Opener, Circular Driveway
- Attached garage spaces: 3
Accessibility
- Accessibility features: Customized Wheelchair Accessible, Zero-Grade Entry, Hard/Low Nap Floors, Bath Roll-In Shower, Bath Grab Bars, Accessible Hallway(s)
Features
- Stories: 1
- Patio & porch: Covered
- Exterior features: Storage
- Spa features: None
- Fencing: Back Yard,Wire
- Has view: Yes
- View description: Trees/Woods, Mountain(s)
Lot
- Size: 1.31 Acres
- Features: Hillside Lot, Borders Preserve/Public Land, Cul-De-Sac, Gravel/Stone Front, Synthetic Grass Back, Irrigation Front
Details
- Additional structures: Shed(s)
- Parcel number: 40924162
- Horses can be raised: Yes
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subtype: Single Family Residence
Materials
- Stucco, Wood Frame, Block
- Foundation: Slab, Block
- Roof: Metal
Condition
- Year built: 2005
Utilities & green energy
- Electric: 220 Volts in Kitchen
- Sewer: Septic Tank
- Water: Pvt Water Company
- Utilities for property: Propane
Community & HOA
Community
- Security: Security System Owned
- Subdivision: CHENEY RANCH UNIT 3
HOA
- Has HOA: Yes
- Services included: No Fees
- HOA fee: $86 annually
- HOA name: Cheney Ranch
- HOA phone: 928-243-4871
Location
- Region: Show Low
Financial & listing details
- Price per square foot: $252/sqft
- Tax assessed value: $781,658
- Annual tax amount: $4,796
- Date on market: 5/12/2026
- Cumulative days on market: 150 days
- Listing terms: Cash,Conventional
- Ownership: Fee Simple
- Electric utility on property: Yes
- Road surface type: Asphalt
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 10/1/2026 | Price change | $1,099,000-3.5%$252/sqft |
Source: | ||
| 9/8/2026 | Price change | $1,139,000-1.7%$261/sqft |
Source: | ||
| 8/13/2026 | Price change | $1,159,000-1.6%$266/sqft |
Source: | ||
| 7/24/2026 | Price change | $1,178,000-7.9%$270/sqft |
Source: | ||
| 5/12/2026 | Listed for sale | $1,279,000$293/sqft |
Source: | ||
| 5/6/2026 | Listing removed | -- |
Source: Owner Report a problem | ||
| 3/10/2026 | Listed for sale | $1,279,000+6.6%$293/sqft |
Source: Owner Report a problem | ||
| 9/30/2025 | Listing removed | $1,200,000$275/sqft |
Source: | ||
| 7/28/2025 | Listed for sale | $1,200,000-6.3%$275/sqft |
Source: | ||
| 1/24/2025 | Listing removed | $1,280,000$294/sqft |
Source: | ||
| 9/28/2024 | Listed for sale | $1,280,000-3.8%$294/sqft |
Source: | ||
| 4/26/2023 | Listing removed | -- |
Source: | ||
| 4/21/2023 | Listed for sale | $1,330,000+10.9%$305/sqft |
Source: | ||
| 12/20/2022 | Listing removed | -- |
Source: | ||
| 10/4/2022 | Listed for sale | $1,198,850-1.8%$275/sqft |
Source: | ||
| 3/15/2022 | Listing removed | -- |
Source: Owner Report a problem | ||
| 12/5/2021 | Price change | $1,221,000+7.1%$280/sqft |
Source: Owner Report a problem | ||
| 9/6/2021 | Listed for sale | $1,140,000+39.5%$261/sqft |
Source: Owner Report a problem | ||
| 3/24/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 9/1/2020 | Listing removed | $817,000$187/sqft |
Source: Owner Report a problem | ||
| 8/11/2020 | Listed for sale | $817,000+4.7%$187/sqft |
Source: Owner Report a problem | ||
| 10/14/2019 | Listing removed | $780,000$179/sqft |
Source: Owner Report a problem | ||
| 5/20/2019 | Listed for sale | $780,000+48.9%$179/sqft |
Source: Owner Report a problem | ||
| 9/3/2017 | Listing removed | $523,777$120/sqft |
Source: ADVANTAGE REALTY PROFESSIONALS - Show Low #213703 Report a problem | ||
| 6/10/2017 | Listed for sale | $523,777$120/sqft |
Source: ADVANTAGE REALTY PROFESSIONALS - LK #213703 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | $4,796 +4% | $78,165 0% |
| 2025 | $4,610 +1.5% | $78,166 +7.1% |
| 2024 | $4,541 +5.7% | $73,007 -18.4% |
| 2023 | $4,297 -0.1% | $89,445 +25.5% |
| 2022 | $4,303 +6.4% | $71,271 -0.7% |
| 2021 | $4,043 +0.2% | $71,751 +7.4% |
| 2020 | $4,034 +4.8% | $66,789 |
| 2019 | $3,848 +9.9% | -- |
| 2018 | $3,502 | -- |
| 2017 | $3,502 +6.5% | -- |
| 2016 | $3,287 | -- |
| 2015 | $3,287 | $27,396 |
| 2014 | -- | -- |
| 2013 | -- | -- |
| 2012 | -- | -- |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | -- | -- |
| 2008 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 85901
Nearby schools
Schools provided by the listing agent
- Elementary: Linden Elementary School
- Middle: Show Low Junior High School
- High: Show Low High School
- District: Show Low Unified District
Source: ARMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.






