14 lot mobile home park

1 acre

205 Mill St SE Mitchellville IA 50169

Call or Text: 949-939-1133

Invest $74,550 as owner financed down payment

Make $1,000,000 Net!

CITY WATER, CITY SEWER Individually metered

------------------------------------------------------------------------------------------------------------------------------------------------------------------------

$497,000

14 total lots (10 owner occupied homes/4empty lots)

Lot rent: $350/month

Monthly income: $3500

Annualized Gross Income: $42,000

Expenses:

Insurance - $1000

Property Taxes - $2200

Offsite Manager - $4500

Annualized Expenses: $7700

Total net = $42,000 - $7,700 = $34,300

-------------------------------------------------------------------------------------------------------------------------------------------

$497,000 Purchase Price

15% down ($74,550) with 3.50% (WSJ Prime Rate)

$422,450 balance with a monthly interest payment of $1232.15 (Annualized $14,785)

Balloon payment due in 5-10 years

$34,300(net) - $14,785 (loan payment) = $19,515 net profit

$19,515/$74,550 = 26.2% YIELD

------------------------------------------------------------------------------------------------------------------

Reason for selling: Need more time to focus and expand my other business

Out of state owner. Park runs itself. Have not been to park in over 7 years!

Great tenants and great manager.

Deposits are made to our local bank account

-------------------------------------------------------------------------------------------------------------------------------------

In a span of 3 years it is possible to bring the rents up to $550/month and filling up the entire park would make total monthly collections: $7700

Which would have a valuation of almost $1,500,000 at a 6% cap rate!

Text or email for quickest response

Tony: 949-939-1133