I have found that resources will not help much with MH in parks (or land you dont own). In your case I have believe the value is in the cash flow that is generated from the MH. There can be but not always a lot a potential problems with buying a MH without land. Having said all of this it is my favorite investment as long as I know the owner or park manager very well and I buy the home cheap. It will do you little good to value the home via NADA and then find out that you cant sell it for cash at the price you want.
I have found that resources will not help much with MH in parks (or land you dont own). In your case I have believe the value is in the cash flow that is generated from the MH. There can be but not always a lot a potential problems with buying a MH without land. Having said all of this it is my favorite investment as long as I know the owner or park manager very well and I buy the home cheap. It will do you little good to value the home via NADA and then find out that you cant sell it for cash at the price you want.
Depends on the area, park or land, condition, etc. We've bought them in 1970 vintage for $500 and sold them for close to $30k. So it's something that takes a little local market research.
Look in parks in the area, ask realtors who specialize in mobiles, ask park managers about values, CL and MHVillage. Again area will differ.
One thing, does the unit need to be moved? Are you looking to move it? If so, check on local move costs. If you buy it, and lease or rent the land, might the owner ask you to move it at some point so they can build or ?? Kinda important to know.
Depending on the age, some cities/counties won't let you move them to certain locations and lots. Won't give a permit. A mover will know.
If the MH is in a park it can have greater value just because of the right to be in the park. In the 90's in CA there were offers of $40,000 for singlewides that were worth less than $10,000 then were then pulled out and replaced with doublewides (worth about $40,000) that were then rented at substantially higher rates.
Thank you all so much for the help. I don't plan on moving it. I hope to purchase then lease option it. I'm meeting with the landowner soon. I should know more then. You have all been a great help. So happy to have found bigger pockets.
Deborah