29 lot, one vacant ,27POH home grossing around $270000,one lot rent $350.00 and Manager home no rent , total expenses $80000 which is about 30% of gross sales ,well and septic. More lots can be developed in future. I value as
$350x28x12x0.7=$1176000 at 10% cap plus value of POH home and manager home =$1325000
I have not seen the park ,like to know Do I need to look at park, spend money and time before putting offer?
please let me know if I am wrong.