Estimating Value in a Mobile Home Park
I am thinking about investing in a mobile home park. The park it self has 8 mobiles homes (which I would own) and has 4 lots that are rented out to individuals that own their mobile home. The location is in IL, close to St. Louis and a 5 out of the 8 mobile homes are currently rented out. The question I have is, is there a quick way (without an appraisal) to determine what a fair price is for this? The mobile homes themselves range from 1979 - 1993. Some of these are in good condition and some not so much....
Thanks