Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 14.4%
  • Listing ID: 3473596
  • Posted On: Aug 2, 2023
  • Updated On: Dec 12, 2023


•City Water & City Sewer!
•Excellent Starter Park!
•Steady occupancy levels!
•City maintained streets!

Canton MHP is a 18-pad mobile home community located on just under 1.00 acre three blocks from quaint, downtown Canton, MO and next door to a city park. The park was developed over 50 years ago and has served the community by offering an affordable housing option since that time. The property is zoned B2 and is believed to be in compliance. The park is two blocks west of the Mississippi River and is protected by the levee, as a result the FEMA flood maps classify this location as "area with reduced flood risk". The park is presently self managed by an out of state owner. The park has been utilizing a "greeter" and they have served well in that capacity and might be capable of additional responsibilities depending upon your management structure. The park utilizes a local handyman.

The pads vary in size but the majority are approximately 32' x 70'. Of the 18-pads in the park, one is a TOH at $250/month. Five of the trailers are POH's averaging $507/month. Ten are RTO's with an average payment of $421/month and a combined contract balance of $70,830. There are currently two vacant pads. The park utilizes annual leases for its residents.

CITY WATER & CITY SEWER!!! The underground pipe material is believed to be clay and PVC. The electrical pedestals are 100 amp. Residents are direct billed for their water, electricity, & garbage with no back-billing. The park utilizes city maintained roads that are blacktop (main road) and gravel (back alley) in good condition. The park mows the entire park and the city moves snow as needed. The park also has a block building located in the center of the park that is great for storage.

Since the current ownership group purchased the park, they have made a number of improvements to the property:

1. Added a new 2022 trailer to a vacant lot.
2. Converted ten POH's to RTO's.
3. Did some tree work and landscaping.

When asked what improvements they would implement if they were to continue to operate the park going forward:

1. Fill the remaining two vacant pads.
2. Continue to raise the rents as the market allows.

MR. LANDMAN, LLC is a licensed real estate entity in the State of Missouri under license#2021009404. Jonathan Fisher is a licensed broker in the State of Missouri under license#2021009405.


Canton is a city in Lewis County, Missouri. The population was 2,377 at the 2010 census. Canton is the home of Culver-Stockton College, a small liberal arts college. Canton is a part of the QuincyHannibal, IL-MO Combined Statistical Area.

Canton is located:

•21miles from Quincy, IL
•151 miles from St. Louis, MO
•151 miles from Davenport, IA

Quincy, known as Illinois's "Gem City", is a city in and the county seat of Adams County, Illinois, located on the Mississippi River. The 2010 census counted a population of 40,633 in the city itself, up from 40,366 in 2000. As of July 1, 2015, the Quincy Micro Area had an estimated population of 77,220. Geographically, Quincy is the largest city and is the central hub of the Tri-State region, encompassing western Illinois, northeastern Missouri, and southeastern Iowa.

Quincy is located 137 miles from St. Louis, MO, 144 miles from the Quad Cities, and 110 miles from Springfield, IL.

In the fall of 2010, Forbes Magazine listed Quincy as the eighth "Best Small City To Raise A Family."

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Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 88.0 %
Year Built: 1965
Average MH Lot Rent: $250
Size: 1 acre(s)

Financial Information

Gross Income: $86,952
Operating Expense: $26,649
Net Operating Income: $60,303
Expense Ratio: 30.6 %

Lot Information

Singlewide Lots: 18

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 5
Average Rent for Park-owned Homes: $507

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