Land For Sale- 80 acres Planted timber & Hunting Woods- Rochester, IN

Description

Rochester, Indiana Fulton County land for sale. Hunter? Investor? MUST SEE IN PERSON! Pictures do not do this Ideal 80 acre property for hunting/timber income located on the Southeast corner of CR450N and CR100W near Rochester, just north of the Tippecanoe River justice. Abundant wild turkey, whitetail deer and other wildlife call this property home! Ag fields in the area combined with the natural browse and neighboring properties create an area producing trophy deer. This entire parcel is in Classified Forest and Wildlands (CFW) Program which allows the landowner property tax reduction and free technical assistance from DNR foresters and wildlife biologists. In addition, 29 acres of trees are in a CRP program which were planted in 2015. This CRP program pays the landowner $4313 annually through 2029. The rest of the property has a wide variety of trees including a 1993 planting of 11 acres that has a current appraised timber value of over $42,000 (*picture with planting layout in photos). Great access from Highway 31 which is close to a mile to the east, but the majority of traffic noise cannot be heard from the property. Trails have been maintained allowing access to the property. There are many potential building sites on the property with great road access on two sides. Following are details of timber appraisal conducted in early 2018 by a professional forester. The timber stand improvements recommended by the forester were completed. *Trail cam pictures are from September 2019*
-SOUTHEAST AREA WOODLANDS & TREE PLANTINGS
The largest part of the Southeast area of the Reed Farm is made up of two tree plantings the 11 acre 1993 tree planting and the 28.87 acre labeled 29 acre 2015 tree planting. South of the 1993 planting and on the east side of 100 west, with an access gate, is an area of nearly 10 acres with only scattered trees, which I did not include in my timber appraisal. This area is likely an old abandoned pasture. These invasive plants have spread very heavily into the 11 acres 1993 planting and will be spreading into the 2015 planting if they are not controlled. South of the old pasture and around the end and on both sides of the 2015 planting is a 20 acre area that was part of the 2014 timber harvest.
The 2015 tree planting has been through three growing seasons. Survival of the planted trees is very high. The deer are browsing these trees and slowing their growth rates, but nearly all will outgrow this deer problem. Naturally seeded in sycamore and cottonwood trees are found throughout the tree planting with the heaviest cottonwood being in the north end and the heaviest sycamore being on the low ground in the south end. This trees planting should be inspected annually over the next few years, and at some time part of these cottonwood and sycamore will need to be controlled to release the higher value planted trees. Other than this near future cost to release the better trees from cottonwood and sycamore, this planting is doing quite well. The next cost after that would be around year 12 to 15 when the first thinning will be needed. The current appraisal of this planting would be a replacement cost minus the cost of cottonwood & sycamore removal.
-1993 TREE PLANTING 11 ACRES
The main species making up the crop trees in this tree planting are white oak (56%), tulip (29%), and black oak (13%). Tree quality, vigor, and growth rates are all good. The tulip trees average 14.6 DBH, and the oaks average 9 DBH. This area was thinned in 2007 and again in 2017. I recommend the next thinning to be a commercial thinning in 8 to 12 years where most of the tulip would be harvested and some of the oak. The next thinning after that would be in 22 years where the oak would again be harvested for a thinning. I estimated that the oak would average 22 DBH in 32 years from now, and would have significant value. The main cost will be controlling the autumn olive and bush honeysuckle that has invaded this area from the adjoining old pasture to the south. This invasive plant control should be done as soon as a new owner is in place. The invasive bushes should be controlled in both the planting and the old pasture to minimize recontamination.
-APPRAISAL
To appraise timber value, I used the fair market approach using 4 comparable sales, which were selected from sealed bid sales that I conducted for my clients in the northern Indiana marketing area and period. Tree species, quality, tree and woodland size, location, and logging accessibility and date sold were all factors considered when selecting comparable sales and values per board foot. Stumpage value means the value paid for the trees standing and unharvested in the woodland with the buyer assuming all the cost of harvesting. Merchantable timber means trees 12 DBH and larger.
Appraisal Summary - Based on selected comparable timber sales, and my knowledge of timber markets and values, and my volume and quality estimates, I would appraise the October 2017 stumpage values of the four inventoried woodlands to be as follows.
-Tree Planting Appraisals
To appraise the trees in the 1993 11 acre tree plantings I have appraised their 2017 present value (PV) as a future crop. Using my inventory data and measured growth rates I have projected a future harvest schedule for these plantings and the timber volumes and timber values that would result. I then discounted these future values back to the present using a 4% discount rate. My calculations do not include inflation so the 4% discount rate represents a real rate of return based on tree value growth. I have appraised the Present 2017 value of the discounted projected future timber harvests to be as follows.
11 acre 1993 tree planting Present 2017 value as a future timber crop $42,049 or $3,822 per acre
Southeast Areas management cost. We estimate that the cost to control the current existing invasive plants in the 10 acre Southeast old pasture and 11 acre 1993 tree planting would be $6000. *has already been completed. the cost of controlling the sycamore and cottonwood seedlings in the 29 acre 2015 tree planting is a hard value to estimate because we currently do not know just how time consuming that job will be. My rough estimate is that cost will be $2500.* Note that the $6,000 of work for invasive species control has been accomplished by Rooted IN Forestry in 2018
-Respectfully Submitted, Bruce Wakeland ACF, CF
For private showing of this remarkable property contact Ty Mills at 260-571-5232 or [Email listed above]