So I’ve been looking at a park that I really like. Rent is $330 mostly tenant owned homes. 43 pads, with a few doubles. Because the poh and double lots are few, I’ve just been doing 330x12x43 So Gross Potential Rents are around 160-180k annually. The tricky part is the owner’s expenses are extremely low, I don’t doubt that they are for him, because he is hands on, I however am sure to incur more expenses. Park is on city water and sewer, with water being billed back. This park appears to be one of the nicer in the market, and all parks are darn near full. Subject park appears to be at the top end both in rental rates and quality, with one other park getting $370 in the market. Park is really nicely kept, with great infrastructure.
Let me know what you think this park is worth. Feel free to ask anymore questions.