158 Acres in Rocky Ford, CO - $515,000
It's not often that you come upon a "no-brainer" real estate investment--and this 158.5-acre farm in Rocky Ford, Colorado, is exactly that. The Arkansas River valley is known as one of the most productive farming regions of Colorado, home to the famous Rocky Ford cantaloupes, as well as watermelons, pumpkins, squash, corn, beans, onions, grain, and alfalfa.
This farm is neat and tidy, with a newly remodeled 1,508-square-foot, 3-bedroom, 2-bath farmhouse. The farm has new windows, siding, paint, carpet, insulation, a new back porch, a new master bedroom and bathroom, a new septic system, and a new furnace. The basement is 600 square feet.
Approximately 84 acres of the 158.5-acre farm is irrigated by a new pivot sprinkler with 113.2 shares of Holbrook Mutual Irrigation Company, which is typically allocated at 1 share per acre. The farm is planted in a good stand of productive a...
Approximately 84 acres of the 158.5-acre farm is irrigated by a new pivot sprinkler with 113.2 shares of Holbrook Mutual Irrigation Company, which is typically allocated at 1 share per acre. The farm is planted in a good stand of productive alfalfa, and production is just shy of 6 tons to the acre--an excellent yield. The alfalfa is very high quality and has practically no weeds whatsoever and yields 4 cuttings a year. Gross revenue for the farm is typically $70,000 a year, but with excellent water this year and skyrocketing hay prices, gross revenue was $130,000 in 2011. Of course, this was an unusual year with an extreme drought in Texas, Oklahoma, and New Mexico, but 2012 might have similar circumstances. At any rate, the farm promises to produce good income over the long term. Ag financing is very affordable and we have financing available through United Country Land Finance.
The tenant farmer who works the farm on shares is more than willing to keep farming it.
Other improvements include a 24x80 calving shed and a new large 60x75 metal hay barn to keep the hay crop out of the weather, as well as the center pivot sprinkler.
Annual expenses (approximately):
Electric (to run pivot sprinkler) $2,000
water costs (Holbrook water) $1,000
fertilizer $2,000
taxes $1,200
Total expenses (paid by landowner) $6,200
Hay sales (total amount; landowner receives 50% of proceeds, tenant farmer receives 50%)
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