Determining mobile home park’s value

mobile home university
1

Hi,

I have a general question regarding how to determine a rough value for a mobile home park on a per-lot basis. I understand that many factors contribute to a mobile home park’s worth.

For context, let’s assume the park has recently replaced its water infrastructure, which includes tenant services, tenant curb valves, new isolation valves, a new pressure release valve, and several new hydrants. The water and sewer services are publicly sourced. Additionally, the park is centrally located with access less than 1 mile to interstate highways. Park just installed 11 new security camera poles with new electrical service. Park is exceptionally clean, has paved roads, and maintains a 99% occupancy rate.

I’m only seeking an approximate per-lot value. For example, if a park has 50 lots priced at $40,000 per lot, that would give it a total value of $2 million.

I appreciate your input!

Thank you

2

What’s the lot rent?

3

$370 not including utilities. Rent is under market value and can be raised

4

You’re in the ballpark then, $30,000-50,000 per space isn’t crazy. Recommend actually raising rents to market to maximize your value though! Will do better than just putting that in the listing package

5

There is at least 1 other forum on hear where several folks have given formulas and methods to value a community. Take a look at those