60 acres in Adams County, Iowa

Description

NAME: Bowstring LLC Farm

PRICE: $330,000.00
LAND USE: 37.63 effective tillable acres, and 16.6 acres enrolled in the Conservation Reserve Program (Adams Co. FSA)
INCOME: $11,395 in 2012 Potential to go much higher in 2013.
The FSA reports the farm has 37.6 effective tillable acres. However, the tenant on the subject property reports 40 effective crop acres and rents it accordingly. With the additional income from the renewed CRP contract, there is excellent income potential on this farm.
CSR DATA: Avg. 82.8 (Adams Co. Assessor)
FSA DATA: The government payments are to be reconstituted by the FSA because the subject property is being sold off a larger property. ( Adams Co. FSA)
CRP: 970C: 6.61 Acres at $159.80/acre=$1055 annually, expiring 2015; 991C: 10.00 Acres at $134/acre = $1,340 annually, expiring 2012. Moving to $232/acre=$2,317 annually in 2013 (Adams Co. FSA)
LOCATION: Located approx. 1 mile East and 1 mile North of Nodaway, Iowa.
TAXES: Taxes will be reassessed because the subject property is being sold off a larger a property
TERMS: Cash, payable at closing
POSSESSION: May be subject to tenancy

AGENT: Tom Miller - 712-621-1281