Mobile Home Park Details
- Listing ID: 363218
- Posted On: Feb 19, 2013
- Updated On: Feb 25, 2016
Description
Approximately 13 Acres
67 lots
City Sewer/Well Water
4 acres in front of the park unused
Purchase Price $449,000.00 with 20% down and balance 20years @ 6%
Income
11 Lots Rented @ $293.00 $3,223.00
9 Park owned @ $407.00 $3,663.00
Total Monthly Income $6,886.00
Expenses
500.00Electric
100.00 Gas
900.00 Sewer
300.00 Trash
200.00 Water
450.00 RE Taxes
150.00 Insurance
2600.00 Total Expenses $2,600.00
Approximant Net Income $4,286.00
X12
$51,432.00
Less Mtg Payments $2,822.40 monthlyx12= $33,869.00
Aprox net profit 1st year $17,563.00
Includes 16 homes on Lots that need rehabbed
That are grandfathered in thus saving $40,000
In set up and delivery fees and lot upgrades could
Be sold or rented @ $407.00 monthly x 27= $10,989.00
This will a Great Investment for a Local Investor that is handy and
Able to do all the work himself, Present owner lives over 4 hours from the park and is not handy and has to hire all the work done.
OWNER TERMS AND FINANCING IS ALSO A PLUS
Please Contact Bill @ 734-649-1380
Park Information
Number of MH Lots: | 67 |
Average MH Lot Rent: | $293 |
Utility Information
Water: | City |
Park-Owned Homes
Number of Park-owned Homes: | 9 |
Average Rent for Park-owned Homes: | $407 |