Old Toonallook, 1233 Wymah Road, lies 12 kilometres south of the Hume Highway and within 30km of Albury-Wodonga.

Measuring 104 hectares (257 acres), the property is believed to have been a stopping and stabling place for Cobb & Co.

Prior offers are invited or the listing will be presented for online auction on Friday, May 8, at 2pm.

The homestead, once the area's main house, has an original timber component from circa 1873 and was built about 1925 with renovations and upgrades since.

Features include four bedrooms, two with ensuites, an L-shaped verandah, kitchen, pantry, underground wine cellar, polished original timber floorboards and large living zones.

Adjoining is a self-contained one bedroom residential unit, the original farm slaughterhouse and cool room, plus stables.

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The farm, which has a setting like an amphitheatre, is subdivided into 11 paddocks with five dams.

Vendor Vicki White, who took over in 2006, has considered herself as much the caretaker as the owner of "this beautiful, magnificent property".

"It's a warming home, light feel, inviting, it's been a pleasure to be here, it really has," she said.

"It's just a grand old lady.

"If you have a good look around, there's some old bridges and you try to piece how things were back in the heyday.

"A lot of the old outbuildings are still very much the same."

Real estate agent Dave Colvin, of Ruralco Property, said the sale had attracted interest locally as well as right through NSW, Sydney and Melbourne.

He felt Old Toonallook might appeal to a professional couple or a retiring farmer.

"That sort of market that aren't ready to move into town, still want a few acres and a nice homestead," he said.

"There's beautiful garden surrounds; it's got very good infrastructure, like a good shearing shed, sheep yards and cattle yards and also good, reliable water."

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Miss White has decided to downsize and will move back to Mansfield after leaving Old Toonallook.

"It will be a very sad day when I drive out for the last time," she said.

"But it's somebody else's turn to enjoy her."