Seller will finance and will also entertain taking on a capital investor.
The off market park is an 80 space park with 5 TOH paying $165/mo in lot rent (will raise to $200 after about $10K-$15K in park improvements are performed), 2 TOH paying $200 /mo lot rent, 6 POH paying an average of $500, and 20 vacant homes that can be rehabbed and sold off. Seller is currently rehabbing 2 more units he has deposits on for rent. Then there are about 47 spaces to still fill and utilities are in at most. Market to sell homes is strong and ads are delivering lots of calls.
The park has city water, city sewer, city electric, and city trash all direct billed to the tenants with no responsibility for payment on the owner.
Humboldt is 16 miles off of US-40 and the heart of the new and growing portion of Jackson, TN with all of the major big box retailers and restaurant chains going in. Jackson has a metro population of 129,538, 3.8% unemployment, $41,346 median income and a $97,166 median home price.
This park in Humboldt is 1.9 miles from a Super Walmart and the city made a deal to bring a Tyson Chicken plant to the city. This is a $300M processing plant set up to start opening in September or October of this year and will also include other buildings and farms in the immediate area to further boost the jobs and economy. Tyson is expected to be employing 1200 people.
There is a major shortage of housing and prices of homes and rents in the area have seen dramatic increases since 2018 when ground broke on this project.
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