Mobile Home Park Details

  • Listing ID: 363219
  • Posted On: Feb 19, 2013
  • Updated On: Aug 23, 2013

Description

#Approximately 7.5 Acres (Miller side 2.7 Todd side (4.8) Plus lot with home on it.
50 pads/lots
City Sewer/City Water
Purchase Price $221,000.00 with 20% down and balance 20years @ 6%

Income
1 1bd House @ $422.00 $ 422.00
5 Lots Rented @ $298.00 $1,490.00
10 Park owned @ $407.00 $4.070.00
Total Monthly Income $5,982.00
Expenses
600.00 Electric
800.00 Water/Sewer
300.00 Trash
300.00 RE Taxes
170.00 Insurance
2170.00 Total Expenses $2,170.00
Approximant Net Income $3,812.00 X12 $3,812.00
X12
Approximant Net Income $3,812.00 X12 $45,744.00
Less Mtg Payments $1591.20 monthlyx12= $19,095.00
Aprox net profit 1st year $26,674.00

Includes5 homes on Lots that need rehabbed
That are grandfathered in thus saving $12,000
In set up and delivery fees and lot upgrades could
Be sold or rented @ $407.00 monthly x 5= $2,035.00

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

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Number of MH Lots: 50
Average MH Lot Rent: $298

Park-Owned Homes

Number of Park-owned Homes: 10
Average Rent for Park-owned Homes: $407