Mobile Home Park Details

  • Cap Rate: 6.0%
  • Property ID: 1565571
  • Posted On: Nov 30, 2021
  • Updated On: Mar 15, 2022

Property Description

Tea’s Manufactured Home Community is a stabilized 51 site resident-owned home community on public utilities
with 46 occupied lots that includes upside in bringing site rent to market and filling 5 empty sites with homes in
a community that supports new home sales. The community is a result of prideful ownership where the current
owner has made recent capital improvements to sites and utility infrastructure. Tea’s MHC is in Clyde, OH
where Whirpool Corporation – a Fortune 500 Home Appliance Manufacturer – employs 3,000+ workers at their
Manufacturing Plant 0.2 miles from the community. Clyde sits within Sandusky County which is one of the most
highly touristed areas in Ohio thanks to the world-famous Cedar Point Amusement Park and Ohio’s Lake Erie
beach towns and islands.

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Park Information

Community Type: All Age
Number of MH Lots: 51
Total Occupancy: 90.0 %
Average MH Lot Rent: $250
Size: 7 acre(s)

Financial Information (Actual)

Gross Income $174,053
Operating Expense $59,853
Net Operating Income $114,200
Expense Ratio 34.4 %
Debt Info

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 3

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