Mobile Home Park Details

  • Listing ID: 2942414
  • Posted On: May 18, 2023
  • Updated On: Jan 3, 2024


We are pleased to present Wayside MHP in Buffalo, NY. This stabilized 64-lot manufactured home community, with achievable upside opportunities. The community sits just 5 miles from the center of downtown Buffalo with access to all that the city has to offer and it's just 15 minutes from Buffalo Niagara International Airport.

Wayside has 64 active MH lots plus 1 storage garage unit. The park consists of 50 tenant owned homes that currently pay an average lot rent of $446 per month, 12 rented new 2023 park owed homes that pay an average rent of $546 per month plus utility billbacks for water, sewer and trash on new tenants only, 2 vacant park owned homes and 1 storage garage unit.

The lot rent and home rents are below market compared to the current average market lot rent set at $523 according to the JLT 2023 rent survey. The overall market can support substantially higher lot rents based on limited affordable housing supply and growing demand in this market.

The park is serviced by public water and sewer, which is included in rent for all legacy tenants but billed back to all new and future tenants. Trash is curbside pick-up and included in rent for all legacy tenants as well. New tenants will be on a billback. All systems are in good working order. The privately maintained roads are in average to below average condition and may need improvement in time. There is currently an onsite manager that helps run the park.

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Park Information

Community Type: All Age
Number of MH Lots: 64
Total Occupancy: 96.9 %
Average MH Lot Rent: $446
Size: 4 acre(s)

Financial Information (Actual)

Gross Income: $418,070
Operating Expense: $141,832
Net Operating Income: $197,639
Expense Ratio: 33.9 %

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 14
Average Rent for Park-owned Homes: $992

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