Farnam, NE 69029(Dawson County)

The basement has a large recreation room with full professional style bar, pool table, with sunken fireplace and media center. The basement also has a walkout sliding glass door for additional entertaining with barbecue and yard area.

The home is all electric with 2 heat pumps. The well maintained yard area is equipped with underground sprinklers trimmed with 3 rail, white, vinyl fencing.

The farm site is equipped to background or winter feed up to 150 head complete with load out chutes, steel pipe corrals, concrete feed bunks with aprons watered by 6 Johnson waterers along with frost-free hydrants. There is approximately a 10 acre holding lot adjacent and directly east from the backgrounding lot to hold cattle or retain horses. The pasture is watered by 1 windmill, 2 dugouts, and frost-free hydrants. There is a 40x90 open pole machinery storage building to supplement the small feedlot. In addition, there are a number of older, very well maintained outbuildings including a 42x 48 barn, 24x40 shop, 15x24 garage, 2 storage buildings, a chicken house, and a vet building. All of the older outbuildings were freshly painted in 2013, with new hardware installed on most of the doors. . Many of the buildings have recently had their windows or doors refurbished or replaced. One domestic well services both the building site and farm site. The homeowners have consistently maintained the property at the highest of standards, and the state of the improvements are proof of their diligence.

The center pivot is a valley electric center pivot powered by a cummins diesel motor with Randolph geardrive and sargent pump. There have been recent improvements completed to the irrigation equipment including the valley pivot and sargent pump. The irrigation equipment is two years old, and was just tested and rated at 787 gallons per minute. The central platte, NRD of grand island, NE has of record 132.2 certified irrigated acres for the farm.

The center pivot soils are made up of holdrege, hall, coly, and hobbs silt loam series soils. The farm is gently rolling to rolling and has been in crop production for many years with excellent historical corn yields in excess of 200 bushels per acre on a consistent basis.

The department of natural resources, Lincoln, NE records indicate the irrigation well was completed in 1978. Static water level maintains at 218 and pumping level at 265 set up to produce 787 gpm. The well depth is 566. the irrigation well registration number is g-059917. The owner of record in Norman Geiken. Located in the northwest corner of the quarter is a 50 x 100 steel shop/utility building with full concrete floor with a 12 x 18 lean-to building. Also on the quarter is a 16 x 30 cattle shed. There are also underground fuel tanks located directly north of the steel shop. The large shop has excellent utility and can easily store large farm equipment of most any kind.

This is an excellent income producing property with a one-of-a kind rural residence with evidence of pride of ownership at every turn.

The owner would be receptive to leasing back the center pivot irrigated quarter to include the 50 x 100 steel shop/utility building for 1-2 years on a cash rental or bushel guarantee basis. Owner would appreciate use of the 50 x 100 steel shop/utility building through December of 2015 to accomodate his harvest.

The owner will convey all owned minerals. Buyer is responsible for obtaining his/her own mineral opinion.

The owner will cooperate with 1031 exchanges and may require a 1031 exchange cooperation.

Estimated landlord rental income

Measurement assumptions:

Center pivot irrigated rental 60 bushel # 2 yellow corn delivered ($3.50/bu assumptions) @ 132.20 cias - $ 210/ac rental equivalence

Backgrounding lot rental 100 head @ 120 days @ .10/head/day

Fee income per pair per month estimated 130 acres pasture @ .5 aums/ac five months summer- June 1 to November 1 - $75/pair/mo - $25.00/ac equivalence - body weight equivalent per pair estimated 1.5 aums.

Center pivot irrigated rental: $27,750.00

50 x 100 steel shop rental - $150/mo @ 12 mo $1,800.00

Residence rental - $750/mo @ 12 mo $9,000.00

Backgrounding lot rental @ 4 mo $1,200.00

Pasture rental ne1/4 130 acres @ $25/ac $3,250.00

Estimated gross income $43,000.00

Real estate taxes $7,780.00

Insurance $2,000.00

Repair & maintenance $1,500.00

Miscellaneous $1,000.00

Estimate gross expense $12,280.00

Estimated net landlord income $30,720.00