256 Acres in Morton, TX - $121,866
This farm consists of 256.56 surveyed acres, of which 217.9 acres is enrolled in USDA's Conservation Reserve Program (CRP) until 9/30/20. At the asking price of $475/acre, this produces a ROI of 5.4%.
Annual CRP Payment: $6905
Annual Property Taxes (2011): $279
Net Income: $6626
6,626 / 121,866 = 0.05437
This means you will draw a guaranteed return of 5.4% until 2020 and potentially see your investment increase in value, as land has historically done. Consistent ROI + growing equity? Not too shabby of an investment, right?
After the CRP contract expires in 2020, you could apply to enroll the farm into the program again, or break it out into cultivation for agricultural purposes. Most farms in this region are used to grow wheat or cotton. While their are some rougher areas on the farm, such as large sand hills, most of the land is flat or slightly sloped and could easily be put back i...
After the CRP contract expires in 2020, you could apply to enroll the farm into the program again, or break it out into cultivation for agricultural purposes. Most farms in this region are used to grow wheat or cotton. While their are some rougher areas on the farm, such as large sand hills, most of the land is flat or slightly sloped and could easily be put back into crops. Two irrigation wells are already on the farm. The owner doesn't have any information about their condition or pumping strength, but water depth in this area is generally around 250' and their pivots on farms in all directions. The potential buyer may inspect the wells at his own expense, if desired.
The farm is located on the southwest edge of the Texas Panhandle in Cochran County, not too far from the town of Morton. It has frontage on its north side on CR 34. Electricity is already ran onto the land, down to an old homesite on the south side. The home and other structures here are not in usable condition and are considered to be of no value.
Asking Price: $475/acre (reduced from $600/acre) (some mineral rights available)
Call land agent Ben Belew at cell phone (940) 357-9940 for more information about this farm.
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