Mobile unit for sale: '61 Travelite
Poking around an area of town we like last weekend, we came across a tasteful little mobile community. To qualify, it is a quiet elderly community with grand old trees, full hedges, lots of greenery, good lot privacy, community pool, recreation area, and hardly a person in sight of the 100 or so units placed throughout the meandering network of roads.
The unit is a '61 Travelite single wide, probably 10', maybe 12', with tongue removed, skirting, attached screened porch on slab, added on master bedroom, clean and bright finish with good lighting inside. All appliances are recently updated, four a/c window units. It is a clean and comfortable living space.
Lot fees are $475, and annual taxes on the mobile are <100. High electricity bills in peak summer months run around $150.
Asking price for the unit is $8,000.00.
I would like to start a brainstorm session on the good, bad, and ugly of this scenario. What I see is an accessible entry level property that could do one of two things: easily cash flow 2% as a rental, or provide a comfortable place to live and squirrel away the difference. (current rent+ utilities is around $1500.00)
Thoughts?