23% cap rate. 85% cash on cash at current 100% occupancy. This proforma summary has factored in a 10% vacancy / credit loss.
6-lots. 5-park owned homes. 1-privately owned home. 3.3 acres. 100% occupancy. 9-miles south of Warrensburg MO. In Johnson County. Located in the country on gravel road access and gravel interior roads. PVC water and sewer lines. Rural / County water. State approved sewer system. Price for park as is $95,000.00. State approved engineered sewer system is ready for installation once weather permits. Current owner has contract with licensed installer for $20,000 to complete. All state and local permits paid for. Total cost for park $95,000 park $20,000 sewer system = $115,000.00 total. Seller will escrow $20,000 at close for installation cost of sewer system. Or will sale park for $95,000 and allow buyer to pay contractor for installation cost. Buyers choice.
Seller's motivation is to take cash from sale and use to compete his 90-lot park Pittsburg Kansas. Quick close required. Buyer of this park will be given first opportunity to purchase Kansas park.