Situated in rural Kearney County in central Nebraska, 371 38th Rd, Minden, NE 68959 offers a 7.30-acre agricultural homestead featuring a 2,370-square-foot, 3-bedroom, 1-bathroom home built in 1916, paired with extensive agricultural outbuildings. The property is being offered via an Online-Only Real Estate Auction with an opening bid starting at $100,000 and an auction closing date set for October 12, 2026.
Featuring a 3,600-square-foot Morton pole building (48′ x 72′), four grain storage bins (including a 2018 bin with a ~20,000-bushel storage capacity), a 2-car detached garage, and a traditional barn, this property presents a versatile asset for agricultural producers, land investors, homesteaders, or equipment storage operators.
With a county tax assessed valuation of $230,120 and an automated market valuation (Zestimate) of $295,700, the opening bid creates a notable entry point for investors capable of navigating “As-Is” auction terms.
This comprehensive real estate analysis evaluates 371 38th Rd across its auction terms, unit valuation metrics, structural outbuilding values, agribusiness income models, capital outlay budgets, and tax history.
Property Specification and Data Summary
Public tax records, county assessment disclosures, and auction terms establish the structural and operational baseline for this Nebraska acreage.
| Property Parameter | Official Listing & Public Record Details |
| Street Address | 371 38th Rd, Minden, NE 68959 |
| County / Market | Kearney County / Central Nebraska (Tri-Cities Corridor) |
| Parcel Identification Number | 000130001 |
| Sale Format | Online-Only Public Auction (Closing Oct 12, 2026) |
| Opening Bid Price | $100,000 (Opening Bid Baseline) |
| Buyer’s Premium | 10% Added to Final High Bid ($10,000 on $100k bid) |
| Automated Market Valuation (Zestimate) | $295,700 |
| Total Surveyed Land Area | 7.30 Acres (317,988 Square Feet) |
| Total Finished Interior Space | 2,370 Sq. Ft. Livable (1,536 Above Grade + Basement) |
| Price Per Square Foot (Opening Bid) | $42.19 per sq. ft. |
| Main Outbuilding | 1980 Morton Pole Building (48′ x 72′ / 3,600 Sq. Ft.) |
| Grain Storage Infrastructure | 4 Bins (Includes 2018 Bin ~20,000 Bushel Capacity) |
| Additional Structures | 2-Car Detached Garage, Barn, Outbuildings |
| Residential Layout | 3 Bedrooms / 1 Bathroom (Built 1916) |
| Water & Wastewater Utilities | Private Groundwater Well / On-Site Septic Tank |
| Heating & Cooling | Natural Gas Furnace, Central AC, Wood-Burning Stove |
| Zoning Classification | Ag (Agricultural Zoning District) |
| Annual Property Taxes (2025) | $1,638.00 per year ($136.50 per month) |
| County Tax Assessed Value (2025) | $230,120 |
Auction Mechanics and Financial Terms
Purchasing real estate at a public online auction requires strict adherence to non-contingent financial mechanics. Buyers must analyze contract costs beyond the nominal hammer price:
- Buyer’s Premium Calculation: A 10% surcharge is added directly to the winning bid price to formulate the total contract purchase price.
- Winning Bid: $100,000
- 10% Surcharge: $10,000
- Total Contract Purchase Price:$110,000
- Earnest Money Deposit: A non-refundable deposit of $5,000 is required within 24 hours of auction conclusion.
- Closing Timeline: Full balance due via certified funds on or before November 20, 2026.
- Contingency Status: The property is sold AS-IS, WHERE-IS. Sale contracts are not contingent on the buyer obtaining mortgage financing or satisfactory post-auction inspection results.
Valuation Metrics & Spread Analysis
Analyzing the opening bid against county tax records and third-party automated valuation models (AVMs) reveals a significant pricing spread.
| Valuation Benchmark | Valuation Amount | Price Per Acre Basis | Price Per Sq. Ft. Basis | Variance to Opening Bid |
| Opening Bid Price | $100,000 | $13,698.63 / acre | $42.19 / sq. ft. | Baseline |
| Contract Base (+10% BP) | $110,000 | $15,068.49 / acre | $46.41 / sq. ft. | +$10,000 (+10.0%) |
| County Assessed Value (2025) | $230,120 | $31,523.29 / acre | $97.09 / sq. ft. | +$130,120 (+130.1%) |
| Market Zestimate | $295,700 | $40,506.85 / acre | $124.77 / sq. ft. | +$195,700 (+195.7%) |
Asset Valuation Breakdown (Depreciated Replacement Cost Approach)
In rural Nebraska, raw agricultural land without improvements typically trades between $8,000 and $12,000 per acre depending on soil ratings and water rights. On this 7.3-acre parcel, the value lies heavily in the existing outbuilding infrastructure:
- Land Baseline Allocation (7.3 Acres @ $10,000/acre): $73,000
- Morton Building Replacement Value (3,600 Sq. Ft.): Building a new 48′ x 72′ insulated pole barn with concrete floors currently costs approximately $35 to $50 per sq. ft. ($126,000 to $180,000 replacement value). At a depreciated value, it contributes $45,000 – $60,000.
- Grain Bin Infrastructure (~20k Bushel Bin + 3 Bins): Modern grain storage construction averages $2.00 to $3.00 per bushel capacity. A 20,000-bushel bin built in 2018 adds roughly $30,000 – $40,000 in functional asset value.
Combined outbuilding infrastructure easily exceeds the opening bid price, offering substantial physical asset protection for land-banking investors.
Outbuilding & Agribusiness Income Opportunities
Under Kearney County’s Ag Zoning classification, this parcel provides immediate options for income generation or operational cost offsetting.
Total Storage Capacity: ~20,000+ Bushels
Commercial Off-Farm Storage Rates: $0.15 to $0.25 per bushel / season
Potential Seasonal Grain Bin Revenue: $3,000 to $5,000 annually
1. Grain Storage Leasing
With local grain elevators charging seasonal storage fees to corn and soybean producers, leasing the 20,000-bushel 2018 grain bin to neighboring farming operations can yield recurring seasonal revenue:
- Estimated Leasing Rate: $0.18 per bushel per season.
- Annual Gross Grain Storage Income: 20,000 bushels × $0.18 = $3,600 per year.
2. Commercial Equipment & Vehicle Storage
The 3,600 sq. ft. Morton building (48′ x 72′) offers high clearance and wide spans suited for cold storage of farm equipment, boats, RVs, or contractor machinery:
- Outdoor/Pole Barn Storage Leasing: $0.50 to $0.75 per sq. ft. annually.
- Potential Building Storage Revenue: 3,600 sq. ft. × $0.60 = $2,160 per year.
3. Homesteading & Small-Scale Livestock
The presence of a traditional barn, detached garage, and 7.3 acres allows for hobby farming, equine facilities, or livestock grazing without requiring expensive new fencing or shelter construction.
Property Tax History and Carrying Overhead
County property tax assessments in Kearney County indicate a stabilizing tax structure following statewide agricultural land adjustments.
| Assessment Year | County Assessed Value | Annual Property Tax Bill | Effective Tax Adjustment |
| 2025 | $230,120 | $1,638.00 | -11.7% Tax Decrease |
| 2024 | $230,510 | $1,856.00 | -24.1% Tax Decrease |
| 2023 | $206,325 | $2,443.00 | -6.4% Tax Decrease |
| 2022 | $206,325 | $2,611.00 | +16.9% Tax Increase |
| 2021 | $186,170 | $2,234.00 | -8.5% Tax Decrease |
Carrying Cost Analysis
- Annual Property Taxes (2025): $1,638.00
- Monthly Property Tax Expense: $136.50 per month
- Annual Carrying Cost Per Acre: $224.38 per acre
With monthly property taxes at just $136.50, holding costs remain exceptionally light. Investors leasing the grain bins ($3,600/year) can easily cover annual property taxes and insurance while leaving a positive net cash flow yield.
Renovation Budget & Capital Outlay Model
Because the 1,536 sq. ft. main floor house was built in 1916 and is sold “As-Is,” prospective buyers should budget for structural upgrades, mechanical checks, and cosmetic enhancements.
| Project Component | Low-End Estimate | High-End Estimate | Operational Notes |
| Opening Bid Contract Basis | $110,000 | $110,000 | $100k bid + 10% Buyer’s Premium |
| Septic Inspection & Pumping | $500 | $1,200 | Mandatory compliance & flow test |
| Private Well Water Quality Test | $250 | $600 | Coliform, nitrate & heavy metal check |
| Residential Interior Refresh | $12,000 | $25,000 | Paint, flooring repair, bath update |
| HVAC & Gas Water Heater Service | $1,500 | $4,500 | Furnace/AC tune-up or unit replace |
| Outbuilding Maintenance & Doors | $2,000 | $5,000 | Morton building seal replacement & bin checks |
| TOTAL ALL-IN CAPITAL INVESTMENT | $126,250 | $146,300 | Refurbished homestead & active ag storage site |
At an all-in completed basis between $126,250 and $146,300, the total acquisition cost remains significantly below both the $230,120 tax assessment and the $295,700 market estimate.
Strengths vs. Critical Investment Risks
Key Strengths
- Substantial Infrastructure Value: The 3,600 sq. ft. Morton building and 20,000-bushel grain bin provide heavy structural value independent of the residential home.
- Low Opening Bid: Listed at an opening bid of $100,000 compared to a tax valuation of $230,120.
- Low Fixed Overhead: Property taxes total just $1,638/year ($136.50/month).
- Agribusiness Income: Immediate revenue opportunities via grain storage and equipment leasing.
- Natural Gas Connection: Unlike many rural homes relying on propane delivery, this property features natural gas service.
Critical Risk Factors
- Non-Contingent Auction Terms: Requires liquid cash or pre-approved financing prior to bidding; $5,000 earnest money is forfeited if the buyer fails to close.
- 1916 Home Age: Older residential envelope may require updates to wiring, plumbing, or insulation over time.
- Uncertain Final Sales Price: The list price reflects the opening bid; competitive bidding may push the final purchase price closer to market value.
Buyer Due Diligence Checklist
Prospective bidders should complete the following technical verification steps before placing bids prior to the October 12, 2026 auction deadline:
- Conduct On-Site Physical Inspection: Inspect the foundation, roof, and floor joists of the 1916 home, as well as the structural integrity of the 1980 Morton building.
- Verify Grain Bin Mechanicals: Inspect the 2018 20,000-bushel bin drying floors, sweep augers, and aeration fans to confirm operational readiness for harvest leasing.
- Inspect Well & Septic Integrity: Arrange for a private well water test and septic tank inspection to ensure municipal environmental compliance.
- Confirm Financing & Cash Balance: Verify that your lending institution approves financing for “As-Is” auction properties without standard inspection contingencies.
- Review Title Commitments: Examine title commitments to confirm fee-simple title conveyance free of undisclosed agricultural liens or encumbrances.
Listed on Zillow
