700 Acres in Beaconsfield, IA - $1,350,000
Not many come along like this one. This is a prime recreational tract with enough agriculture and Conservation Reserve Program acres to add income, food and diversity for prime deer and turkey habitat. The farm straddles the Ringgold and Decatur County line and would make a good candidate for two parties splitting the purchase and working together on a management plan. County road access from the south and north. Approximately 250 acres of timber in the north half of the farm with other large draws on the rest of the farm. At least 6 ponds on the property.
The tillable and pasture fields are leased for the 2012 crop season. The lease agreement was based off of 225.2 acres, for a total cash rent of $35,566. The lease called for $225 per acre for the 83.9 tillable acres, $200/acre for 34 tillable acres and $80 per acre for the 123.6 acres of pasture and hay. The lease is on a year t...
The tillable and pasture fields are leased for the 2012 crop season. The lease agreement was based off of 225.2 acres, for a total cash rent of $35,566. The lease called for $225 per acre for the 83.9 tillable acres, $200/acre for 34 tillable acres and $80 per acre for the 123.6 acres of pasture and hay. The lease is on a year to year basis with the new owner having the option of continuing or cancelling for 2013 crop year. There is 104.9 acres of CRP expiring in 2012 as noted below that when upgraded to either current lease terms or new CRP rates will help the income considerably.
There are 104.9 acres in CRP at $65.76/acre which expires on September 30, 2012. There is also 9.2 acres of pasture buffer CRP at $84.20/acre which expires on September 30, 2020, and 30.9 acres of pasture buffer CRP at $88.20/acre that expires on September 30, 2021. The total annual CRP payments are $10,396. Hunting lease in 2011 was $4,500 and is annually renewable. Minimal hunting pressure was reported.
Total Income of $50,462 less taxes of $6,054 yields a net income of $44,408 or a return of 3.3% at the asking price.
Map
More by Mark Gannon
