34 Kelly Rd Rd Carlsbad, NM 88221

This exceptional 160-acre farm, situated south of Carlsbad, New Mexico, presents a unique investment opportunity. The property boasts 98 acres of irrigated land, currently leased and producing significant income. Approximately 66 acres are dedicated to alfalfa (second year of production), 11 acres to permanent pasture (grazed by cattle and horses), and 20 acres were recently used for cotton. Irrigation rights are secured through the Carlsbad Irrigation District, utilizing Pecos River water. A permit for a new supplemental well, or repair of an existing well, is also included. The property features a charming 2,500 sq ft, 3-bedroom, 3-bathroom ranch-style brick home with a 2-car garage, wood-burning fireplaces, and an expansive east-facing porch overlooking the farmland. Additional improvements include a well-equipped arena with lights and covered roping boxes, covered pens, a tack room, and a spacious irrigated grass field. Current income streams include a water-transfer contract averaging $170,000 annually for oil field use, $24,000 in annual rental income from the home, and $14,000 from farm lease, totaling approximately $208,000 in annual outside income. This property offers a compelling blend of agricultural potential, substantial income generation, and a comfortable, well-appointed home, making it an attractive investment with significant tax advantages due to depreciable assets. The property's location near the Pecos River provides additional appeal. This is an ideal opportunity for both established farmers and investors seeking a high-return, diversified portfolio addition.