40015 Waterman Road, Homer, Alaska

  • $835,000
  • 5
  • 4
  • 2,074
  • 5
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Welcome to Magic Canyon Ranch! This 5BR/4BA home with a 6-stall horse barn and cabin/studio is nestled into an exquisitely private and truly extraordinary canyon landscape. The surrounding area is one of the last undisturbed wildlife corridors stretching from the Homer bench to the Skyline ridge. Enjoy relaxing on your deck, listening to birdsong, and reveling in your wilderness haven! Magic Canyon Ranch is an exceptionally secluded property located only minutes from Homer, Alaska in an enchanted canyon bursting with birdsong and wildflowers and overlooking beautiful Kachemak Bay and the glacier-filled Kenai Mountains. A long, narrow drive under enfolding alders along Waterman Creek delivers you to the private canyon, which opens to an absolutely breathtaking view in a classic Alaskan wilderness setting. Magic Canyon adjoins the upland 700-acre Inspiration Ridge Preserve, to be managed in perpetuity for conservation by the Center for Alaskan Coastal Studies. The canyon complex is an important wildlife corridor for black bears and moose who move seasonally between the lowlands and uplands. The canyon has three creeks, the largest riparian cottonwood grove in Homer, and a million-dollar view of Grewingk Glacier across the bay. The property connects to a canyon rim trail established in the 1950s by homesteaders originally for commercial berry picking, most notably rose hips. The canyon is almost entirely deciduous - alders, birches, wild roses, fireweed, and cottonwoods, with a sprinkling of spruce. The property is part of the original Waterman Homestead where John Waterman ran his herd of cattle and grew a locally renowned vegetable garden. Magic Canyon Ranch was for a time a top-tier Bed & Breakfast, so it comes with its own website and domain name, should the need arise again. The five-bedroom country style house is a charmer. The property also includes: six-stall horse barn with hay loft small llama barn (makes a nice shed) dry cabin perfect for yoga practice, artist studio, or kids playhouse (built from the wood of a single beetle-killed Lutz Spruce from Anchor Point) old guest house in need of love (but has a new roof) Although the historic place name is Waterman Canyon, it is now known as Magic Canyon by those who have lived in and love this magical place.

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Essential Information

  • MLS® # 19-12638
  • Price $835,000
  • Bedrooms 5
  • Bathrooms 4.00
  • Square Footage 2,074
  • Acres 5.00
  • Year Built 1979
  • Type Residential
  • Sub-Type Single Family Res, B & B Potential
  • Style Two-Story Tradtnl
  • Status Active

Community Information

  • Address 40015 Waterman Road
  • Area 492 - Kachemak City/Fritz Creek
  • Subdivision Skipper's View L1
  • City Homer
  • State Alaska
  • Zip Code 99603


  • Features Deck/Patio, Satellite Dish, View, Barn/Shop, Fenced Yard, Horse Property, Landscaping, Road Service Area, RV Parking, Storage Space/Unit, Private Yard, Shed
  • Garages Other-See Remarks
  • View Bay, Glacier, Mountains, Unobstructed, Ocean
  • Waterfront None


  • Interior Features Range/Oven, Refrigerator, Laminate Counters, Tile Counters, Den &/Or Office, Dishwasher, Electric, Fireplace, Telephone, Washr&/Or Dryer Hkup, Window Coverings, Wood Stove, BR/BA on Main Level, CO Detector(s), Washer &/Or Dryer, Arctic Entry, Smoke Detector(s)
  • Heating Monitor, Baseboard, Stove
  • Fireplace Yes


  • Exterior Wood
  • Roof Asphalt/Comp Shingle
  • Construction Wood Frame - 2x6
  • Foundation All Weather Wood, Concrete Block

School Information

Additional Information

  • Date Listed July 26th, 2019
  • Days on Market 257
  • Zoning UNZ - Not Zoned
  • HOA Fees 0.00

Listing Details

  • Listing Office: Kachemak Group Real Estate


  • $/SqFt $403

Neighborhood Information

Moderate Residential Turnover, Coastal Area

  • Icon of money $595,000

    Median Price

  • Icon of a grid layout $346

    Median Price/Sqft

  • Icon of a bar graph 97.31%

    Sale/List Ratio

  • Icon of a house 122

    # of Homes SoldWithin the Last Year

  • Icon of a person walking 0/100

    Walk Score®Car-Dependent

  • Icon of a raincloud 25.45″

    Annual Precipitation

  • Icon of a sun 29.30°F /61.00°F

    Avg. Highs -

  • Icon of a cloud and moon 17.50°F /47.20°F

    Avg. Lows -

  • Icon of a group of people 10,422

    PopulationBased on Nearest ZIP Code

  • Icon of a person 39

    Median Age

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Listing information last updated on April 5th, 2020 at 8:04am AKDT.