Price: $230,000
$10K EMD
Overall:
46 site community
All tenant owned homes
Direct bill city water
Septic - 1 per home
Paved roads and parking pads
100,000+ MSA
Financial overview:
23 occupied lots
$142 average lot rent
$39,432 gross income, 35% expense ratio = NOI of $25,623
12.81% cap rate at purchase price
Raise lot rent to market of $195 to increase cap rate to 17.49%
Two months ago we assigned neighboring park (7 minutes away) which has $195 lot rents
If want more info, pls email me at jon@fourbrothersbuyhouses.com and will send you detailed overview info sheet. Thanks