Farm investment opportunity in Louisville, Kentucky For Sale

This is a 67 acre farm with 3 bedroom house and one barn, excellent fence and 600 feet of road frontage. The farm has been in the same family for the past 38 years. We have a tenant that has been under a 4 year contract that is near expiration and they want to renew. The farm is for sale by the Estate due to death of the current owners. Monthly rental income is $1,200 with annual taxes and insurance cost of approximately $2,800 paid by the owner. Location is 42 miles east of Louisville in Henry County. The property produces annual cash return of 3.3% and appreciation over past 38 years averaged 6.0% compounded annually for a total annual return of 9.3%. Priced to sell at $350,000 and can deliver renewed contract with current tenant.