Ellis Farm 257

Land Description

Property: Located East of the town Cary, Mississippi near highway 61 the Ellis Farm, is comprised of 257.77 surveyed acres of which +/- 157 acre is cultivated, with +/- 68 acres in a CRP term contract and a balance of 32 acres in natural mature hardwood timber. The cultivated lands are formed to grade with irrigation to each field as well as pads and pipes for drainage. The property's location and soil types are suitable for most small grains grown in the region with it predominate history being soybean. The farm has been well maintained for draining and soil conditioning, offering historical soybean yields in the 65 bushel per acre range. In addition to its productivity the property is in a good waterfowl flyway between the Mississippi & Sunflower river as well as being adjoined to Twin Oaks Wma, which is heavily managed for waterfowl and whitetail deer hunting.

Property Breakdown:

• 157 acres in cultivation

• 68 acres Crp

• 32 acres natural hardwood

Primary Soils: 86% Sharkey Clay / 14% Alligator - Soil capacity avg: 3.3

Improvements:

• 157 acres formed to grade

• 60HP shaft drive well with U/G pipe and risers in each field

• Metal culverts with flash board risers in each field

Crop Base:

• 114.08 acres Soybean base w/41bu / PLC yield

• 39.91 acres Wheat base w/64bu PLC yield

Lease:

• Owner operator - effective rental rate $175.00 per acre ($27,475.00)

• Crp income - $106.00 per acre ($7,208.00)

• Hunting income - $5,000.00

Total Annual income: $39,683.00

Price: $1,184,500.00