Help analyze this deal
Don't want to get to wordy but would like some other experienced guys input on this deal. I am an experienced investor but want to know what others would pay.
6.46 acre Mobile Home Park
20 minutes west of Columbia SC. With 2 minutes of Interstate 20
C class area
Decent industry and jobs in the area.
14 lots
Individually metered power and water
Each lot has it's own septic.
7 Lots rented for $150 mth (Market could handle higher possibly to $200)
5 park owned homes
4 Single wides and 1 double wide
3 rented for $400 per mth
1 rented for $475
1 Rented for 375
2 vacant lots supposedly have all utilities just need a home sited
Expenses:
community lights 960 yr
taxes 2288 yr
ins 1000 yr
no expenses provided yet for maintenance or vacancy.
Supposedly mostly long term tenants.
Asking $175,000