Updated about 6 years ago on .
Need help valuing property
Hi. I am new to REI. I came across a mobile home park today that is for sale by owner. Her asking price is 250,000.
The land size is almost 3 acres. There are 4 units to be rented and 3 that pay lot rent. The combined rent is approx. 2800 a month.
There is a double wide with additions added for the owners property, it has 5 bedrooms.
What is the normal payback time of a MHP?
The double wide and land is probably worth 125 to 150. There aren't any comps on something like this.