'm looking at a 24-space MHP in Eastern, Tx
24 Space Park, 12 currently occupied. 6 TOH, 7 POH (one vacant /trashed)
Lot rents $250 - $300.
Separate nice Double-wide / built in garage on 1 acre, currently rented @ $1250. (comps in area $68K - $123K)
Located < 5 miles to small city, population > 80K, Metro area > 200K, Park is in top-rated ISD.
New Septic system. Park pays Master-metered water.
Only a few of the vacant lots are ‘ready to occupy’. Most need utilities completed.
Asking price = $385K.
My valuation =
12 LOT rentals total = $2900 X 60 = $174,000 (based on lot rents $250 - $300)
6 Occupied POH @ $4000 each = $24,000
Doublewide on 1 acre = $75,000
Total Bid + $273,000
Am I close?
Sent this to Frank also, but not sure when he may be able to respond.