Arizona Travis:  Welcome to the KCA Forum.  You are mighty fortunate to inherit a family heirloom from your Grandfather.  It appears you have a cut-down model 1898 rifle in a very desirable model 1898 carbine stock.  The sling swivels are not original to the Krag.  It appears your barrel has been dove-tailed for a commercial rear sight which is missing.  Your 'banded' front sight looks like it might be a re-shaped 1903 Springfield sight.  If your bore and chamber are cleaned and in decent condition and your bolt's locking lug is 'ok' you are probably 'good to go'.  Just get a rear sight that fits the barrel dove-tail.  If you have an area gunsmith that is competent with older arms, have him check it out and put on a rear sight.  (I took the liberty of playing with your picture).

Here is a picture of some Arizona Rangers, which Winchester used in an add in the 1960s.  Winchester committed the 'sin' of misidentifying them as 'Texas' Rangers.  Every Ranger had a Model 1895 Winchester, except the guy in the middle with a Krag carbine.

A.T.:  Thanks for adding additional pics.  Your Krag's action was built in 1903 at Springfield Armory near the end of Krag production.  The barrel originally was 30" long.  There is a peculiar groove filed into the bolt-sleeve.  This was probably done because the front sight is so low.  This would cause the rifle to shoot high so the rear sight had to be depressed to the max.  The two holes in the left side of the receiver were probably for an off-set Weaver scope mount.  There appears to be some lettering on your safety.  Krag safeties are devoid of lettering.  Your stock is an early type of Model 1898 Krag carbine stock. These were made in 1898 and are relatively rare.  Only 5,000 M-1898 carbines were made.  It appears the stock has been thinned down in the wrist and forearm.  The barrel band is not correct for this stock and may be a 'trap-door' Springfield band.  I see a couple of 'dome' head screws on the left side of the stock near the rear of the action.  These hold the remains of a cavalry sling-bar.  I am describing a lot of things that sound like blemishes (to a collector), but this is your Grandfather's Krag so it should be 'Priceless' to you.  (If you are not real familiar with arms, it's good to have it checked out by someone who is Competent).