MHP Deal Analysis Review
Hey All,
Looking to transition out of SFH and recently found an opportunity that I'd like to get the communities opinion on. Below are the details:
MHP-List Price $275K
20 Acres
25 Pads
17 Lots have POH - 8 currently rented - Avg. Rent $425
8 Vacant lots - 7 TOH - Lot rent $135
City Electric
Well water - All testing past for previous 2 years
Septic system - New pumps 1 year ago
Currently has homes on only one side of private road. Told current well/septic could handle 20-25 more pads
Comps POH are renting for $550, lots at $185-200.
As it currently operates with known expenses (taxes, insurance, licensing, testing, etc.) as well as POH Maintenance, PM, and other CAP EX, I'm showing it as a break even investment.
Would very much appreciate any additional insight the BP community is willing to share.
Thanks,
Clint