Pennington Place
This 167.7 +/- acres in northern Wilbarger County is a diverse farm and boasts TWO stock wells for livestock or residential purposes. It has roads on two sides (east side is gravel, south side is dirt) and the paved section of CR 105 N ends right at its corner, so you have good all-weather access.
The five-line perimeter fence is in excellent shape, with metal t-posts and pipe corners; all the gates are custom built pipe gates as well. A cross fence divides the land into two grazing pastures: 93 and 73 acres.
-93 ACRE PASTURE: 85 +/- acres of improved grasses, including coastal; sloping 30 ft+ elevation with terraces were needed; potential pond construction location; water well on solar system with concrete trough (can water both pastures); separate road entrance on south side if needed
-73 ACRE PASTURE: 35 +/- acre wheat field; two deep draws run through it with lots of tall hardwood...
-73 ACRE PASTURE: 35 +/- acre wheat field; two deep draws run through it with lots of tall hardwood trees; established pond with capacity to hold one surface acre of water; water well (10+ gpm) hooked up to electric lines with concrete water trough; set of pipe working pens; road entrance on east side; GREAT HOMESITE with an 11 mile view all the way to Vernon
This farm has sandy loam soils and has been used for cattle production for years. Electricity is on site in both pastures. The two water wells add strong value, as there is not much ground water in the immediate vicinity of the county and none of the immediate neighbors have wells.
With all of the improvements (2.7 miles of fences with pipe gates, dirt work for pond and terraces, two water wells with concrete troughs), the farm has at least $70K in tax depreciation to a new owner. It is ag exempt for cheap taxes ($170.85 in 2023) and in Northside ISD, a highly rated Division 1A school. One active oil well is on the property that is part of the 5,000 acre Burk Royalty field but no tank batteries are on site. No mineral rights convey with this sale.
LIST PRICE: $2,450/acre or $410,865 total
Fantastic opportunity to own a productive farm in an excellent school district in North Texas! For more information or to view this property in person, contact agent Benjamin Belew at cell phone (940) 357-9940.
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