Mississippi River Bottom Farm!!
County Rd 342, Palmyra MO 63461
This 142 acre Mississippi River Bottom farm is comprised 128.3 tillable acres. 41.89 acres of that are class 2 Belknap Silt Loam and 86.4 acres of class 3 Carlow and Chequest Silty Clay Loam.The drainage ditches have been recently cleaned out. It sits behind a levy district levy that protects it from the Mississippi River. This farm is currently cash rented for $290/acre ($37,207 yearly) based on the 128.3 tillable. Farm is on the last year of a 3 year contract. We had multiple offers at this amount at the time. The current tenant was already farming in this bottom and wanted to add to his families current production. With the previous better grain prices farmers where paying $350/acre. Hopefully if grain prices rise you will be able to enjoy the added income. The proximity to Quincy also makes this location a positive factor. Currently the Levy District taxes and property taxes would total around $48 per acre making a net of $242/acre ($31,048 yearly) on the income. The levy district tax which was used to raise the levy and currently building for another project is not all negative. By being behind this great levy the farm ground went from being High Risk for crop insurance to Low Risk saving the farmer approximately $33 per acre and a greater certainty of a quality crop. With comps in the area from $7600/acre to $8900/acre range we believe this farm is priced relatively under the market for what it is. With this location, productivity, and increase in grain prices its very possible to see a vast increase in price for this farm making it a great investment as well. Call today for a showing Jeff Quinn 1-660-734-3925Taxes: 46816
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