Question on Mobile Home numbers

1 Reply

Hey everyone. Newbie here. Found an ad for a 12 unit mobile home park. Looking for some info as far as deal quality and things to watch out for.

Price: 149,900

Units: 12

More info:

9 lots occupied. 8 of which are park owned.

3 vacant lots and room to add 4 more.

Ad claims 42,000 a year in gross income currently (with the 9 occupied units).

I believe that makes rent/fees income equal to $500/month per unit.

Wondering what sort of stuff to be wary of when reading ads like this. I wonder why it's being sold and if it's even worth a look.

Any info is appreciated :) Thank you!

It equals roughly  438 a month per unit.  438*8*12=42,000....it could be all lot renters or it could and probably just rent...

it could be decent deal depends on the utilities set up, but what is upside, going to be a lot more time/money due to owning all the homes, and what is your exit strartegy...normally this small of a deal is better off being all rentals due to the smaller amount of revenue that it produces...it just depends on how close you live.

best of luck