https://estersonmhcteam.​com/property/battlefield-mhp

Contact Parker Kelly for more info

Battlefield MHP, a 14-lot, manufactured home community that’s 93% occupied and located in Vicksburg, MS.​ Just 41 miles from the center of the capital of the state, Jackson, MS.​ Vicksburg sits on the Mississippi River Vicksburg is home to four casinos, with a large portion of the market’s economy surrounded by the casinos and gambling.​

The community is comprised of 14 MH lots.​ Of the 14 MH lots, there is 1 tenant owned at $250 lot rent avg, 12 park owned homes with an average payment of $579 including the lot rent.​ There is 1 vacant lot that is developed and home ready.​ Battlefield MHP is on public water & public sewer, which are directly billed to tenants.​ Trash is curbside pickup and is also directly billed to tenants.​

At $350,000 we are offering investors the opportunity to purchase a stabilized, cash-flowing investment property, with a 15.4% cash-on-cash return Year 1.​ Given the current tenant mix and occupancy rate, Battlefield MHP will qualify for recourse bank debt.​ We are using a debt quote at 65% LTV, 4.85% interest only, 20-year amortization, on a 5–10-year term.​ Those are the loan terms we modeled in our underwriting.​