A beautiful park consisting of 45 lots with 24 park owned homes located on 19 acres. Park has large spacious lots with paved streets and keyed mailboxes. Lot rent is $225/month and homes rent from $500 - $650/month. Park has a well water system and septic tanks for sewer. Park is centrally located with seven towns within 5 to 15 minute drive times
Income after vacancies/turnover presently is $180,000/year with four vacant lots. Placing four repos on these vacant lots would increase income to $207,000/year. Lot and most home rentals could easily go up $25/month adding another $12,000+ to income.
(Park five miles down the road rents lots for $285/month on dirt roads!)
Potential gross income with four repos added and rent increases @100% occupancy $234,000