I’m wondering if anyone would give me their thoughts on this park.
On the surface it looks good to me. But it’s been listed for a while so I’m sure everyone has looked at it and passed for one reason or another.
I’ve been listing to the podcasts, doing research and this location passes the preliminary tests.
MSA pop 365k, City pop 18k, Walmart within 5 miles, Unemployment 7%, Median Home Price $100k, Median income $30k, Housing Vacant 16%, No POH, 22 spaces, 20 rented @150, 1 house rented at $500, 1 garage rented at $300, residents pay direct for all except septic, some are shared, onsite manager gets free rent, 3 years of expenses are at 30-35%. Listed at 8.4% CAP. At 10% CAP value is about $240-250k.
Thanks in advance