Mallard Springs Ranch | Fay Ranches

MALLARD SPRINGS RANCH

Greycliff, Montana

$3,250,000

327± Acres

INTRODUCTION

Where Montana’s legendary Yellowstone River winds through wide cottonwood bottoms and fertile riverbanks, this 326.8± acre riverfront property offers a rare opportunity to own an exceptional sporting retreat just 14± miles east of Big Timber, Montana. Renowned for outstanding waterfowl, deer, and wild turkey hunting, the ranch offers breathtaking scenery, abundant wildlife habitat, and excellent fishing in one of Montana’s most sought-after river corridors. Originally acquired in 1983 as a premier waterfowl property, the Mallard Springs Ranch has been thoughtfully enhanced over the years with managed wetlands and rare warm-water springs and ponds designed to support exceptional waterfowl habitat. The ranch combines outstanding recreational amenities with productive agricultural land in the heart of Montana’s Central Flyway. Towering cottonwoods, irrigated meadows, sloughs, and sheltered riparian habitat create an ideal environment for waterfowl and big game alike. Ducks funnel through the Yellowstone flyway each fall, while deer and turkey thrive along the river’s edge and surrounding fields. Whether enjoying crisp mornings in the blind, glassing deer at first light, or listening to gobbler’s echo through the bottoms in spring, the property delivers an authentic Montana sporting experience across every season.

QUICK FACTS

• A tremendous riverfront property, paired with rare multiple warm-water springs and ponds

• Two spring-fed ponds remain unfrozen year-round and flow into marshlands, with the primary pond stocked with trout

• With direct river access, it offers endless fishing, boating, and outdoor recreation opportunities

• 45± acres of irrigated hay ground and native rangeland for agricultural use

• Excellent wildlife habitat with waterfowl, turkeys, deer, sandhill cranes, doves, and pheasants

• Multiple water rights support irrigation, ponds, and wildlife

• Improvements on the property include a 19th-century homesteader’s building converted to a hunter’s cabin and a historic barn, both equipped with power

• The ranch consists of 326.8± deeded acres, with a conservation easement covering approximately 232± acres

• Located between Reed Point and Greycliff, Montana, with easy access to Interstate I90

• Combines outstanding recreational amenities with productive agricultural land in the heart of Montana’s Central Flyway

ACREAGE

Spanning 326.8± deeded acres between Greycliff and Reed Point, Montana, Mallard Springs Ranch offers a diverse and highly functional landscape that blends productivity with natural beauty. The property consists of a 232±-acre conservation easement tract along the river and a southern parcel with infrastructure on the south side of I90, all within easy reach of I-90. The acreage features a balanced mix of roughly 45± acres of irrigated hay ground, native rangeland, and lush riparian corridors, creating an ideal setting for both agricultural use and wildlife habitat. Gently rolling terrain transitions into riverbottom ground along the scenic Yellowstone River, while additional water features, including rare warmwater springs and ponds and seasonal flows from Bridger Creek, enhance the property’s usability and visual appeal. The combination of fertile soils, established water rights, and natural forage supports livestock operations while maintaining a strong recreational component. Tree-lined pockets and open meadows provide a classic Montana landscape, offering both privacy and expansive views. This wellbalanced acreage is as practical as it is picturesque, appealing to those seeking an outstanding recreational property for waterfowl, deer, and turkeys, with exceptional natural character.

IMPROVEMENTS

The property is thoughtfully improved to support both agricultural functionality and comfortable recreational use. Existing structures include a well-situated hunting cabin, a historic barn, older corrals, and an additional outbuilding. The hunting cabin was built as a one-room schoolhouse by the original homesteaders. The current owners expanded it using materials from other original structures on the property to create a three-room cabin that serves as a basecamp for enjoying the ranch. With power available and a functional layout already in place, the infrastructure supports a seamless transition for ranching operations and seasonal recreational stays.

RECREATION

WILDLIFE

With productive fields and quality riparian corridors, Mallard Springs Ranch provides unparalleled opportunities to enjoy waterfowl, turkey, deer, and pheasant hunting on the property. Situated within the Yellowstone flyway, the landscape naturally attracts migratory birds, and the current owners worked to enhance this feature by enlisting the Natural Resources Conservation Service to design and partially fund extensive enhancements to the wetlands with the intent of attracting migrating ducks and geese. A resident bald eagle nesting site overlooks the marsh north of the duck blinds, where Bald Eagles have consistently nested every year. The rare warm-water springs keep the wetlands and ponds active throughout the winter. And the seemingly endless acres of nearby National Forest and Wilderness offer outstanding big-game hunting for elk, antelope, bear, upland birds, and moose.

Set along the Yellowstone River and seasonal Bridger Creek just east of Big Timber, the historic Mallard Springs Ranch traces its roots to Montana’s frontier era and the original homestead of Thomas Kent, an early pioneer who traveled west with the John Bozeman wagon train in 1864. Kent later became a prominent sheep rancher in the Yellowstone country, establishing the ranch during the open-range days of territorial Montana. The property still reflects that rich history through its historic ranch buildings, sweeping creek and river landscapes, and the enduring character of a true legacy homestead. With connections to early Montana settlement, Crow Nation history, and the ranching heritage that shaped the region, Mallard Springs Ranch offers a rare opportunity to own a property where Montana history remains deeply woven into the land itself.

FISHING

The Yellowstone River, making up the property’s northern boundary, is one of Montana’s best-known rivers. At nearly 700± miles long, it is the longest undammed river in the contiguous United States. Known to fishermen worldwide as one of the best trout rivers, the Yellowstone, much like all Montana rivers, gets its cold and clear water from its Yellowstone National Park tributaries. The river runs swiftly downstream through south central and southeastern Montana to the Missouri River in North Dakota, varying in width from 75 to 300 feet. The Yellowstone River transforms as it goes. Where it begins, it flows through steep canyons and narrow boulder corridors where the river’s cold waters quickly move downstream. It meets many mountain tributaries along the way, providing a cold, clear influx of water and increased fish numbers. From dry fly action in the spring to streamer fishing for spawning brown trout in the fall, the Yellowstone River has it all for anglers of all experience levels and ages.

BOULDER RIVER

Less than a 10-minute drive towards Big Timber is the Boulder River, a main tributary of the Yellowstone River. While draining an approximately 550± square mile area consisting primarily of the Absaroka-Beartooth Wilderness, the river is still relatively small and easy to fish. The Boulder provides relative privacy because it can only be floated during spring runoff, which generally lasts through June. The Boulder is too rough for drift boats, and there are no boat ramps. During normal summer flows, the river averages between 40 and 70 feet in width and can be crossed by the wade fisher at the head and tail of most pools. The river is known for its freestone characteristics and the incredible clarity of its waters.

STILLWATER RIVER

The renowned Stillwater River lies less than 45± minutes from the ranch, offering one of Montana’s most scenic and productive blue-ribbon trout fisheries. Rising deep within the Absaroka-Beartooth Wilderness, the river flows through alpine valleys and rugged canyons beneath towering mountain peaks before entering the open prairie country below. Its lower stretches offer ideal floating and wadefishing conditions, with a dynamic mix of riffles, pocket water, and deep holding pools. Known for healthy populations of wild trout, the Stillwater regularly produces exceptional fishing days, including opportunities to hook trout surpassing twenty inches. Spring and fall spawning migrations from the Yellowstone River bring even larger fish upstream, while consistent dry-fly action throughout the season makes the Stillwater a favorite among dedicated anglers.

While the ranch itself offers exceptional angling opportunities, the surrounding region offers abundant additional fisheries to explore. Just a short drive away, the West Fork of the Stillwater and the Rosebud River provide intimate small-stream fishing experiences in scenic mountain settings, each supporting thriving trout populations. For those seeking high-country adventure, the nearby AbsarokaBeartooth Wilderness contains pristine alpine lakes renowned for their beauty and remarkable trout fishing, creating endless opportunities for exploration throughout southwest Montana.

LOCATION

Ideally situated just 14 miles east of Big Timber between Greycliff and Reed Point, Montana, the property enjoys a prime setting in one of southwestern Montana’s most desirable rural areas. With convenient access to Interstate 90, the ranch offers both privacy and accessibility. The surrounding region is known for its sweeping landscapes, rich ranching heritage, and proximity to world-class outdoor recreation, including fishing, hunting, and hiking. Despite its peaceful setting, essential services, dining, and community amenities are all within easy reach.

BIG TIMBER

Positioned where the Yellowstone and Boulder Rivers converge, Big Timber embodies the spirit of classic Montana living. This charming western town is known for its exceptional fly fishing, scenic beauty, and welcoming atmosphere. Historic brick storefronts, locally owned restaurants, and western outfitters line the downtown streets, while the surrounding valleys provide stunning views of the Crazy Mountains and Absaroka-Beartooth wilderness. Whether enjoying river recreation, exploring nearby public lands, or simply taking in the peaceful pace of life, Big Timber offers an ideal balance of convenience and outdoor adventure.

BOZEMAN

Only a little over an hour west from the ranch, Bozeman blends sophisticated amenities with the rugged beauty of southwest Montana. This energetic mountain town, home to approximately 64,000± residents and Montana State University, has become one of the West’s most sought-after destinations. Bozeman’s historic downtown is filled with acclaimed restaurants, boutique shopping, galleries, and cafés, while the Museum of the Rockies adds a rich cultural dimension to the community. Surrounded by endless outdoor recreation opportunities, Bozeman perfectly balances refinement, adventure, and authentic Western character.

BILLINGS

About an hour east of the ranch, Billings provides the conveniences of a major regional city while maintaining the spirit and heritage of the American West. Set along the Yellowstone River in southcentral Montana, the city offers premier healthcare, commercial services, fine dining, shopping, and cultural attractions. As Montana’s largest metropolitan area, Billings serves as an important hub for travel and business while also providing easy access to world-class outdoor recreation throughout the surrounding region.

AIRPORT SERVICES

The property is well-positioned for regional and national travel, with several aviation facilities within comfortable driving distance. Big Timber Airport (Howard Field) lies approximately 3± miles southwest of Big Timber and serves private aviation throughout the Yellowstone River Valley. Woltermann Memorial Airport, roughly 25± miles away near Columbus, offers general aviation access with a paved 3,800± x 75± foot runway accommodating a wide range of private aircraft.

For commercial service, Billings-Logan International Airport is just over an hour from the ranch and offers nonstop flights to major destinations across the western and central U.S. via Delta, United, American, Alaska, Southwest, and Allegiant. Bozeman Yellowstone International Airport, Montana’s busiest, is less than 75± miles away and provides direct flights nationwide through Delta, United, American, Alaska, JetBlue, and Southwest, along with hangar facilities for private and corporate aviation.

WATER RIGHTS

The ranch holds irrigation water rights. Additional rights are also available directly from the Yellowstone River. Hay is typically harvested on a portion of the acres, and the rest are grazed. A complete description of the DNRC water right reports is available through the offices at Fay Ranches.

Montana waters, in all their varied forms and locations, belong to the State for the benefit of its people. A water right is the right to use the water within state-established guidelines, and not any ownership of the water itself. Since water rights in Montana are guided by the prior appropriation doctrine, a person’s right to use a specific quantity of water depends on when the use of water began, establishing the relative priority date of use on the water source. The first person to use water from a source established the first right, the second person could establish a right to the water that was left, and so on. Additionally, water users are limited to the amount of water that can be beneficially used. Beneficial use includes, but is not limited to, agricultural, recreational, fish, wildlife and domestic purposes.

Montana is currently conducting a statewide adjudication of all water rights with priority dates prior to July 1, 1973. The statewide adjudication is a court process that prioritizes and quantifies all existing water rights in each Montana drainage basin. With 85 basins in Montana, and over 219,000 water right claims, the statewide adjudication is a massive undertaking that is expected to stretch well into the future. Until the adjudication process is complete, the status of any particular water right claim cannot be guaranteed. Fay Ranches, Inc., its brokers and salespersons do not warrant or make any representation concerning the quantity or quality of any water rights, nor any legal entitlement to use of water rights, permits to appropriate water, exempt existing rights, determination of existing water rights, nor any ditches, ditch rights, or ditch easements appurtenant to or constituting a burden on the property. Water rights claims appurtenant to the property may or may not have been fully or finally adjudicated, and any buyer is advised to make any offer to purchase contingent upon and subject to such independent inspections, evaluations, and advice concerning the water rights and adjudication process as a buyer might deem prudent. All buyers should be aware that Fay Ranches, Inc., its brokers, and salespersons involved in this offering have not conducted an expert inspection or analysis of the water rights for this property.

CONSERVATION EASEMENT

Approximately 232± acres are protected by a conservation easement, preserving the ranch’s exceptional wildlife habitat, open-space character, and Yellowstone River frontage for future generations. The ranch includes a small older cabin and a late-1880s barn. An easement allows for the cabin to be remodeled or replaced with a new residential structure in the same location, with no size restrictions. Additionally, the easement permits the construction of a second single-family residence, along with a garage and shed, within the designated building envelope. Any future owner should conduct their own careful review of the conservation easement and its provisions. Additional documentation and copies of the easement may be obtained through Fay Ranches upon request.

21 Mallard Springs Ranch | Greycliff, Montana

SUMMARY

The 326.8± acre Mallard Springs Ranch stands out for its rare combination of Yellowstone River frontage, warm water springs, productive ground, and recreational appeal. Frontage on the renowned Yellowstone River provides exceptional fishing and scenic value, while additional water from the seasonal Bridger Creek and rare warm water onsite ponds and springs enhances both wildlife/ waterfowl habitat and usability. The diverse landscape, ranging from irrigated fields to native rangeland, supports agricultural enhancement alongside abundant wildlife, including deer, waterfowl, turkeys, doves, and pheasants. Few properties offer this level of balance between productivity, recreation, and natural beauty. With abundant wildlife, scenic views, and convenient access to regional amenities and airports, this property represents a versatile and highly desirable Montana landholding.

Please contact Branif Scott at (406) 579-9599 | bscott@fayranches. com to schedule a showing. This is an exclusive listing. An agent from Fay Ranches, Inc. must be present at all showings, unless otherwise noted or other arrangements are made. To view other properties we have listed, please visit our web page at www.fayranches.com.

$3,250,000 Cash

Conventional Financing 1031 Exchange

Offer is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classification, carrying capacities, maps, etc., is intended only as a general guideline and has been provided by the owners and other sources deemed reliable, but the accuracy cannot be guaranteed. Prospective purchasers are encouraged to research the information to their own satisfaction.