SOLD, 3.7% ROI, PRICE REDUCED, 214 Acres, CRP/Hunting/Tillable
Awesome 214-acre farm located just 2 miles north of the Linn County line along Hwy U.
This farm currently has 170.7 acres out of the 214 enrolled in 2 CRP contracts.
The first contract is a buffer strip CRP contract consisting of 83.6 acres around the field borders. This contract pays $95.72/Acre or $8002 annually and expires in 9/30/2021.
The second contract consist of 87.1 acres in the middle of each field. This contract pays $95.75/Acre or $8340 annually and expires in 9/30/20.
Once the CRP contracts expire you will have the chance to renew at possible higher rates or return to row crop for higher rates increasing the rate of return significantly.
With 170.7 acres in tillable production at a base $150 cash rent that would raise the income to $25,605 from $16,342. With some work surety soil maps actually show 182.66 open acres that could be farmed after cleanup is done. Also, there are established food plot locations all throughout this property.
You can hunt this farm yourself or add a $25/acre hunting lease $5,350.00 annually and bring the total income to $21,692.00 as is in CRP and a 3.7% Return, or $30,955.00 with tillable and a 5.3% return at asking price. Licensed Real Estate Agent has ownership in this property. Call Andy Boyer for your own private showing (636) 295-1476. *Property lines are thought to be accurate but are estimated. *