New Listing...16 Pad MHP in Indiana


#1

I have a new listing of a beautiful smaller MHP in Indiana that I thought I’d share with you.

This is a beautiful mobile home park on 15.53 acres located just ten miles SW of Muncie, IN. The park is in a beautiful rural setting with mature trees, a quiet neighborhood, and in the popular Daleville school system. The park currently has 16 pads, but could easily be increased to 35 pads should the new owner wish to expand it. In addition to the MHP it also comes along with a rental house, 24x40 pole barn, well house, paved streets, and a storm shelter. The owner has lived on site so the park has been well managed and maintained with strict rules and regulations. The majority of residents who live in this park are aged 50+. The park currently has 13 out of its 16 pads leased with quality long-term tenants. I mentioned earlier that this park could be expanded. Five of the fifteen acres is farm ground adjacent to the pads. This could be converted to additional mobile homes, or even potentially mini storage units. The purchase price also includes a newer zero turning radius lawnmower. The owner has requested to live in the residence for six months post closing. He will pay rent at the amount of $600/month and will also continue to do the mowing and maintenance until he moves out.

-10.1% cap rate
-Current rent $220 could be raised. (Includes water, trash, sewer)
-Gas & Electricity direct billed to the tenants.
-Park has its own well and septic system.
-All permits and licenses are current and in good standing.
-All homes are tenant owned.

Listing Agent: Jon Fisher, Champaign IL, (Halderman Real Estate Services, Inc.)
Listing agent email: jonfisher1991@gmail.com
Listing agent cell phone: 217-202-0924
Listing agent website: www.illinoisfarmground.com

https://www.mobilehomeparkstore.com/mobile-home-parks/919070-country-squire-mhp-for-sale-in-daleville-in


#2


#3

What is price on listing? Please email to stevendsegal@gmail.com


#4

I grew up not far from Ball St…what exactly is the the growth rate of Muncie and how much pricing power would one have to raise rents and bring in new homes to rent out? Well and septic…im thinking its near an 7-8 cap…please let me know if you still offer such a great deal. I love that area and would love to invest. thanks


#5

Here are some stats on Muncie that I found online:

https://www.forbes.com/places/in/muncie/

I called 4 MHP’s and inquired on their rental prices.

Indianapolis: (65 miles away)
$491 pad rent
$690-800 trailer rent

$420 pad rent
$620-766 trailer rent

$437 pad rent
$675 trailer rent

Muncie: (8 miles away)
$329.69 (included trash, water, sewer)
650

I’ve priced it at a 10 cap and in all reality I’m throwing in the extra 5 acres for free for expansion purposes because of the well/septic aspect of the property. This is a well run community with majority of residents over the age of 55. All tenants are current on their rent. The owner lives on site in the house so they have been very selective on who they have let move in there.

Speaking of living on site, the house they live in is not just an older doublewide. It is a really nice 1,950 sq ft home that should easily rent for $800/month. This also comes with a 20 x 40 shed that could rent for $200/month or more.

Feel free to contact me if you have further questions or if you would like to make an offer.

Thank you,

Jon Fisher
217-202-0924
www.illinoisfarmground.com