Tucked into the peaceful setting just north of Vallecito Reservoir, 48 West Vallecito Creek presents a rare opportunity to own a versatile mountain property with both residential comfort and income potential. Situated on 1.3 acres—with an additional adjacent 0.80-acre parcel included—this offering provides privacy, usable land, and close proximity to National Forest access, making it an ideal base for outdoor recreation and year-round enjoyment. The main residence features approximately 2,249 square feet, including a well-designed four-bedroom, two-bath layout, with the primary living space totaling just over 1,800 square feet. The home offers a functional floor plan with generous living areas, a full kitchen, and the warmth and character expected in a Colorado mountain retreat. Above the detached garage, a 448-square-foot caretaker apartment adds flexibility for guest accommodations, long-term rental income, or on-site property management. Vacation rental projections for the main home are estimated at $33,000 to $39,000 annually, with the studio apartment offering an additional $11,000 to $14,000 in potential income per year. Complementing the natural setting, the property benefits from proximity to fishing, ponds, and abundant wildlife, as well as easy access to surrounding public lands. Whether utilized as a primary residence, vacation retreat, or part of a larger investment strategy alongside the nearby cabin offerings, this property delivers multiple use options, including short-term rental potential, multi-generational living, or a private family compound.