Assessing the Value of a Mobile Home

[Sean Relyea]

Trying to assess the value of a 1989, 980sqft, 2bd 1.5 ba mobile home. From the limited pictures, it seems to be in superior condition for its age and has newer appliances . It's in a desirable location in a good school district in an all-ages park, and has an in-unit washer and dryer. Lot rent is about $600, and the park does not allow for renting so the exit strategy would be flipping it. It has a current list price that feels reasonable based on no experience with mobile homes, but there may be room to negotiate down. Any recommendations for on how to come up with a resale value?

[Robin Simon]

Quote from @Sean Relyea:

Trying to assess the value of a 1989, 980sqft, 2bd 1.5 ba mobile home. From the limited pictures, it seems to be in superior condition for its age and has newer appliances . It's in a desirable location in a good school district in an all-ages park, and has an in-unit washer and dryer. Lot rent is about $600, and the park does not allow for renting so the exit strategy would be flipping it. It has a current list price that feels reasonable based on no experience with mobile homes, but there may be room to negotiate down. Any recommendations for on how to come up with a resale value?

Can you clarify on how you would add value for a flip?  From your description, it sounds like it is already in good condition, are there any ways to improve it?

[Sean Relyea]

Quote from @Robin Simon:

Quote from @Sean Relyea:

Trying to assess the value of a 1989, 980sqft, 2bd 1.5 ba mobile home. From the limited pictures, it seems to be in superior condition for its age and has newer appliances . It's in a desirable location in a good school district in an all-ages park, and has an in-unit washer and dryer. Lot rent is about $600, and the park does not allow for renting so the exit strategy would be flipping it. It has a current list price that feels reasonable based on no experience with mobile homes, but there may be room to negotiate down. Any recommendations for on how to come up with a resale value?

Can you clarify on how you would add value for a flip?  From your description, it sounds like it is already in good condition, are there any ways to improve it?

 Robin, this would not be a reno and flip, it would just be a flip. It's being very poorly marketed right now. I'm not sure I want to use the term wholesaling for it but it more or less would be.

[Eliott Elias]

Stay away from buying mobile homes without the land attached. This is not real estate investing, this is the equivalent of flipping a car. No realtor or real estate professional can help you here.