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Carwell’s Bayou DeView Farm

LOCATION: The farm is located 1.5 miles west of highway 49 via county road132. CR 132 is 1 mile north of Tilton, Arkansas and approximately 8 miles north of Fair Oaks, Arkansas.
ACREAGE: The farm contains 401.2 acres of farmland and 370.7 acres of farmland a 92.3% ratio.

GOVERNMENT CROP BASES: Rice base is 112 acres with a direct payment of         $10,776
Soybean base is 96.9 acres with a direct payment of  $     675
Milo base is 30.4 acres with a direct payment of        $     434
Corn base is 9.9 acres with a direct payment of         $       17
                          Total direct payment                        $11,902

IRRIGATION: There are four wells on the property:  two on the north tract and two on the south tract. One well was installed new in 2008 and two of the others were reworked in 2008. The other well is pumping good and has not required any work on it. Two of the wells are 10 inch discharge and the other two are 6 inch discharge.
SOILS: The soils are Calloway silt loam 26%, Grenada silt loam 31%, Hilleman silt loam 10%, Tichnor silt loam 15% and the balance is Jackport silty clay loam and Overcup silt loam with about 7.5% each. These are all highly productive soils. For more details see the soil map and legend.
OTHER: The crops are sold and inputs are paid for the 2009 crop year so possession will not be available until 2010. Fifty percent of the minerals go with the sale of the property and they are leased until February of 2011. The seller may want to do a 1031 swap.
PRICE: The price is $971,455 or $2,425 per acre.