Large park with huge upside in Selma, AL for $2.1M. Assumable first loan of $1M and seller will carry a 2nd of $500K, meaning you can get this for $600K down. Refer to the analysis for more loan details.

200 spaces total, consisting of 67 Park-Owned Homes (POHs), of which 22 are rented, 16 Tenant-Owned Homes (TOHs) and 117 vacant spaces. Upside to an estimated 10% cap or 17% cash-on-cash if you repair and rent all the reparable vacant POHs and fill 30 of the vacant spaces with POHs and rent them. Upside to an estimated 20%+ cap or 38% cash-on-cash if you fill up the whole park with POHs. We know lenders who will fully finance new homes from Tru Homes, which the current owner is already doing.

Very high rental demand in Selma, the local HUD department has a long waiting list of potential tenants and HUD will pay top rents.