I know I am asking a very broad question and I doubt I will have many details for a few weeks.

BUT

I just found out that I will be inheriting about 400 acres of wooded hunting land in Iowa. Per my family, None of which are deer hunters, the deer on the property run rather large, take that for what its worth.

How would I start a determination of property value?

As far as worth, location matters but to a deer hunter like myself if in the right spot, its priceless. You are very lucky

Find out the location and call a rural land real estate broker in the area and ask what comparable land in that area sells for

AgResearch said:

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Unless you're there full time for the 3 weeks of 1st and 2nd gun season in December, it's gonna get party hunted extensively by the locals. FYI. Especially if it's recently went through an estate. The locals all know and will go through. Since they don't own it or care..."if it's brown; it's down" happens a lot up here during gun season party hunting.

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Poaching, yes? Or does Iowa have some weird non-trespassing law?

If you need the cash, sell. If not, hold onto it. They don't make good land that cheap anymore.

Start at the FEMA Flood Map to see if it's in the flood zone. After it's in your name, go in person to see the property and understand the road frontage/ access issue. Then meet with several realtors and appraisers on site to get ideas of value. Get an appraisal from the local guy recommended by a local bank/ farm credit agency. Get comps of Sold similar properties in the area over the last couple years. Visit those properties to see if they are relevant to your property value and the differences.
Land issues need to be checked out in person, not just by phone/ computer.

Naveronski said:

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AgResearch said:

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Unless you're there full time for the 3 weeks of 1st and 2nd gun season in December, it's gonna get party hunted extensively by the locals. FYI. Especially if it's recently went through an estate. The locals all know and will go through. Since they don't own it or care..."if it's brown; it's down" happens a lot up here during gun season party hunting.

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Poaching, yes? Or does Iowa have some weird non-trespassing law?

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Absolutely trespassing and poaching but you have to be there, have cameras/proof, actually get local DNR to respond, and get them to actually enforce. A 400 acre timber with a group of 15-20 guys (half pushing and half posted up) only takes an hour to run through. Like I said, if an owner wants to maintain deer, they will need to be on site and chase off the groups that "have hunted this timber forever". #1 trespassing excuse during gun season in Iowa.

Trespassing is only a $500 fine and I've only seen poaching enforcement action on out-of-season kills, from State owned preserves, or chasing with vehicles and radios.

It actually has to be marked and posted either with signs, purple paint or tape along its actual perimeter or fence line and any gates for any enforcement or action to take place and then as you said actual proof.

Good advice so far. If you know where it is, go on landsofamerica.com. zoom map into your area. Under filters you can select sold properties. Should give you a quick loose idea.

Hunting value of the land is however much you can make leasing it out for hunting X10.
Hopefully it has more value than just for hunting...

Take a look at an app like OnX or one of the real estate apps. Look and see who your neighbors are, how big they are and what's going on around you. Perhaps try to call them to introduce yourself and ask about hunting. Are you a 400 acre pocket of timber in the midst of corn fields? Google earth can show you roads/access/water features/etc and prep you before you go.

I could share a lot but for the moment just a little.

The wooded section is one of three associated with the farm complex as a whole. The majority is farm land that for most of my life has been leased to farmers that live in the area. The wooded sections have only ever been used by paper companies that harvest some lumber every 10 years or so.

After a conversation last night it was pointed out to me that there are three homes on the property. Two not in very good states of repair and a third that could probably be made livable with a small amount of effort.

So for the short term I will explore the idea of putting that one house into some state of repair and offering it as package to hunters.

Also does that amount of area seem like enough to interest most deer hunters?

And I wonder if these guys are worth a call?

https://infiniteoutdoorsusa.com/list-your-land

Martels Hammer said:

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Also does that amount of area seem like enough to interest most deer hunters?

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400 acres of timber in Iowa will have interest. 100%

Now, leasing isn't huge here as most land is still owned and hunted within the families. That's why I'm saying you will have trespassing issues. Everyone around there knows it's passed hands and it's now "open".

Iowa is where die hard whitetail hunters move to. The hunting land there is very sought after, especially a Tract that large.

Coworker from OK says that back when he lived there, if you had poachers and called game wardens on them, anything of value on the property would end up stolen or destroyed. Interesting concept.

Wife's extended family has a nice acreage place in Iowa right across the MO border. They are not always on the place but keep it well posted. They have never indicated to us they ever have trespassing or poaching issues and the GW's and Sheriff Departments do a really good job if they need anything.
We have done a number of trail rides on their place in spring and winter and have never seen another person on it ever.

AgResearch said:

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Pay for an appraisal so you can fully capture benefit of stepped up basis in the off chance life comes at you and you have to sell. That will save you on capital gains should you have to sell at some point.

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This. I worked in IA for a while, along with IL and I can tell you that farm land goes at auction sometimes for WAY over what its appraised for. Especially, if you are close to say the Mississippi or other major river.

So, I've seen some shocked looks on some faces when the appraisal comes back for what would be considered far more normal of a number than the online auctions. You are going to want a professional to look at this.