Daisy Hill Estates is a 15-pad MHP located on 9.16 acres in Borden, IN. According to county records the park was developed in 1999. The park is zoned 415 (MHP) and is believed to be in compliance. All of the tenants pay their rent online via the STESSA property management program. The park is presently self-managed by the owners who live nearby. The owners have identified an individual who they feel would be a capable manager. The owner is presently handling the maintenance duties.

The size of the pads were not provided but they should be large enough to accommodate modern trailers. No homes are abandoned or need to be removed from the park. All fifteen of the homes in the park are park owned and currently occupied. (80% occupied). The rent on these currently range between $900-$1,100 per month. There are no vacant trailers being held for back taxes. The park utilizes month-to-month leases. One tenant is currently behind in rent (they always catch up the owner says). The park currently has titles for 13 out of the 15 trailers (the other two trailers will be conveyed by a bill of sale). The park is not located in a flood zone. There is one spot in the park where an additional trailer could probably be added.

City water & city sewer! The composition of the waterlines was not provided. The electrical pedestals are believed to be 100 amp to each pad. Residents are billed directly for their electricity & water by their respective providers. Garbage is provided as part of the property tax bill for the property. The roads are considered to be in "good" shape are asphalt. The park maintains the roads. The park mows the entire park (tenant is paid $75/mow).

I asked the owner of the park to provide some insight on the improvements that they have made in the park since they've owned it:

"Lots of new flooring, light fixtures, removed all gas from the park, deck updated including board replacements, staining, painting, five new metal roofs in 2023, installed locking mailbox (each tenant now has own key), some newer appliances. We no longer provide appliances. What is there can stay and when they break the tenant is responsible to get their own. We have acquired two trailers. This is just a small list of the things we have completed. The rents are well under market value. Most could go up a few hundred dollars per month."

I also asked the owner if they were going to operate the park going forward what would you concentrate on improving?

"Generally, just like any other rental property I would try and get a
better tenant each time. In this case when people move we try and
make the property a little nicer each time."

MR. LANDMAN, LLC is a licensed real estate broker company in the State of Indiana under License #RC52000015. Jonathan Fisher is a licensed managing broker in the State of Indiana under License #RB18000549.