138.9 Acres Butler County Tillable, Pasture, & Oil Near Potwin Ks

PROPERTY DESCRIPTION: 138.9 acres near Potwin in Butler County, Kansas.  This tract of land has blacktop frontage, 80 acres of tillable, native pasture utilized as hay meadow, and a producing oil well. All of the mineral rights owned by the Seller will transfer to the Buyer, which includes a .05416670 royalty interest.  Based on the 2016 production of 1092 barrels, that would be a $2366 income based on an average of $40/barrel.  A hedge row forms the border on the south and east sides of the property, and there are a couple of draws with timber through the interior of the property adding character, habitat for wildlife, and great pond sites. Great opportunity to invest in land, agriculture, oil, and a potential building site all at once!  The tillable portion of the land is leased for 2017.  The new landowner will receive 30% of the 2017 Soybean crop when harvested.

LEGAL DESCRIPTION: The Southwest Quarter of Section 32, Township 24 South, Range 04 East of the 6th PM, Butler County, Kansas Except Beginning at the Southwest Corner North 660′ East 1296.23′ South 445′ East 185′ South 215′ West 1481.23′ To Point of Beginning Less ROW.

2016 REAL ESTATE TAXES: $1036.06.

LAND LOCATION: 1 Mile South of Potwin Kansas on Diamond Rd.

PRICE: $434,000.