Ok, so I am new at MHP evaluating, but I am stumped. I am looking at a couple of new CA listings on MHPS.
One has a NOI of approx. $137,000. Listed for 6.7M
Another has an NOI around $187,000. I think its listed for 6.3M
In my newbie head, these are overpriced by about 5M.
They are nice looking parks and I’m sure CA is a nice place to live, but how do these make any sense? Do
people pay these kind of prices? Cap rate of 2?
I thought maybe I’m missing something…
(No offense meant to anyone)