Help analyzing rv park/mobile home park

3 Replies

Hello my name is Patrick I'm looking at a rv park with 27 spaces 1 home with roughly 1000sq and comes with leased rv Rv park sits on 5 acres with 2 and half undeveloped land could be expanded for more spots or storage land Has laundry room 3 washers and dryers small storage cage on property as well Rv spots rent for 375 a month House rents for 900 Laundry brings in 100 a month They advertise 90% occupancy on spots and I've drove by few times over the years does seem to have most spaces taken Looked at the profit and loss for 2016 brought in 95k expenses were 43k profit of 51k Rv park located mike up the road added 30 new spaces this year not sure if that's good or bad Just want some help analyzing this deal and what info I haven't checked into yet thank you They're asking 680k Located in Azle tx

@Lawrence Breecher/Patrick 

The price seems high for its NOI, but in the ball park. Without knowing more details its hard to say.

What type unities does the park have, Public or well/septic?

Who manages it?

What are the comps on the house?

What does raw land sell for?

What are the vacancy rates like over the past 3-5 yrs?

@bill f. Not sure on the septic they claim the vacant land is worth 100k on its own but discounted it not sure on septic will call tomorrow park is managed by owner who is off site not sure on house comp but they value it at 80k

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