How would you value this park
Hi all,
I wold love some feedback valuation on a small park i am considering;
9 spaces on 4.25 acres outside city limits,
3 tenant owned homes with lot rent @ $160(below current market of $250)
3 park owned singlewide homes @$500
1 park owned doublewide@ $650
2 park owned singles that are vacant and terrible condition
Monthly gross is $2630 currently
Tenants pay water via seperate meters and on septic
Is there a standardized expense ratio for the lot only rents?
Thanks