Quiet, Rural Setting on 17.99 Acres

18 - Lot Mobile Home Park for Sale. 3.5 acres for park, remainder in forest/trees (no maintenance, possible logging). No vacant homes and no deficient payments. Electronic Payments for all but 3 tenants. 1 makes their own payment directly to the bank, the other 2 pay our manager.

PLEASE don't disturb our Tenants.

8 - TOH with average LOT RENT of $287.50

6 - Homes sold on Contract with average LOT Rent of $315.00 and average Contract Home Payment of $309.00 (approximately $38,000.00 in Contracts receivable. (Offering to sell contracts discounted 50%) Tenants are responsible for upkeep and maintenance on these homes; no cost to you.

1 - POH Rented (Has never had a late payment) for $575.00 (includes $325 lot rent)(In great condition; Yellow home and interior pictures on this posting are of this POH.)

2 - Vacant Lots previously occupied, utilities in place to the best of our knowledge.

1 - Vacant Lot with Septic Tank only

1 - Park Owned 2 car garage

TOTAL LOT RENT ONLY = $4,510.00/month
TOTAL HOME CONTRACT/RENTAL INCOME = $2,117/month

TOTAL MONTHLY GROSS INCOME = $6,627/month

Public Water Directly Billed to Tenants by Utility

Electric Directly Billed to Tenants by Utility

8 shared Septic Tanks for the park - No Treatment System Required. Sewage system Reviewed, Approved, and Permitted annually by WV Dept. of Health - Compliant
We have a contractor pump septic tanks on rotation: 3 year average costs to pump approximately = $85/month

Park provides overhead light and power to garage = $24/month

Park provides Dumpster for tenants = $94/month

Park provides snow removal of roads in winter, gravel road maintenance, mowing during the growth months, and grounds Maintenance: 3 Year Average = $825/month

On-Site Manager = $225/month + Free Lot Rent = $550/month

Property Taxes = $1,750/year = $150/month

Insurance: Liability AND we are insuring all the homes on Contract (you can spend less if you like) = $2600/year = $220/month

TOTAL EXPENSES= $2,210/month

50% Expense Factor on Lot Rents Only - Opportunity to Improve

TOTAL NET OPERATING INCOME (NOI)
ON LOT RENT ONLY = ($4,510 - $2,210) = $2,300/month
= $27,603/Year

9 Cap Price using Lot Rent Only = $307,000.00

+ $20,000.00 for outstanding Home Contracts discounted 50%
+ $6,000 for 1 POH and 2 car Garage

Total Sales Price = $332,000.00