MHP Deal Analysis
I have come across a MHP that I believe has some potential. Let me know your thoughts on value, etc.
- 55 lot family park - 38 tenant owned, 15 park-owned (vacant), 2 vacant lots
- estimated rehab per vacant MH is 7,500
- 330 average lot rent, rents haven't been raised in 3+ years
- Sub-metered city water & sewer (park owner pays for everything except electricity)
- Seller financing with 25% down (estimated 6% fixed @ 30 years)
- Purchase price is 1mm
What is the value of this park?