OK so I am interested what you pros out there think. Here’s a park I came across. I’ve made my decision but I’m curious how others would value the park.
30 spaces. 1 vacant. 4 POH
Same owner for 30 years.
120 lot rent.
City owns and maintains the roads.
9 homes per acre. big enough for newer homes
Water and sewer are individually metered and billed by the city, HOWEVER the park pays all those bills. So it would be very easy to pass that along.
Very small town. 1650 pop. 10 miles away from town of 25k. (I know what you’re thinking Frank. I just listened to a few hours of the audio presentations yesterday.)
This is the only park in town. The bigger town 10 min away has parks with lot rent of 150.
Industry is primarily farming.
Seller financing with 20% down at 5% 25 yr amort. ballon in 5-10
So if anyone wants to have a go at it, would you buy this park? What would be your offer price?
I’ve got more details if you need them.