Contact Information
Jason Bergan
License: S65228000
Mobile Home Park Details
- Price: $2,300,000
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 7.4% (Actual)
- Listing ID: 6967893
- Posted On: Aug 21, 2025
- Updated On: Aug 21, 2025
Description
Rolling Hills MHP is an all age community located 20 minutes south of Ames, IA and 25 minutes north of the Des Moines, IA MSA. The property is zoned for 126 pads and currently has 81 developed sites, 42 undeveloped licensed sites, and the possibility of further expansion on the western side of the property. The property is currently served by public water and a private sewer lagoon.
Lot rents at Rolling Hills are at a modest $320 with similar communities ranging from $400 - $580 per month. This offers new ownership the ability to raise lot rents to market over time for realistic and attainable equity.
The property currently consists of 16 tenant owned homes, 16 park owned homes, 8 rent to own homes, 16 abandoned homes, and 3 resident RVs.
Ownership pays for water, which is not billed back to the tenants. New ownership could bill back water to further decrease expenses.
Current Ownership is willing to offer seller financing to qualified and experienced operators.
The financial analysis assumes debt based on the below preferred seller financing terms.
Down Payment: 30%
Interest Rate: 5%
Term: 5 Years
Amortization: 30 years
Contact Broker for Additional Details
Location
Maxwell, Iowa is a community located 9 miles east of Interstate-35, between Ames and Des Moines. It is 20 miles from the center of Ames and 30 miles from the center of Des Moines. Many of the residents of Maxwell commute to either of the cities or their surrounding suburbs for work each morning.
Maxwell is a small community of about 1,000 residents. It is located in Story County, which has a population of 90,000, while the combined MSA populations of Ames and Des Moines is about 920,000 residents.
These MSAs have a variety of employers, to include: John Deere, Iowa State University, Principal Financial Group, Hy-Vee Grocers, and Casey's General Store.
Amenities
- Laundromat
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 123 |
| Total Occupancy: | 33.0 % |
| Year Built: | 1972 |
| Average MH Lot Rent: | $320 |
| Size: | 40 acre(s) |
Financial Information (Actual)
| Gross Income: | $262,000 |
| Operating Expense: | $92,400 |
| Net Operating Income: | $169,600 |
| Expense Ratio: | 35.3 % |
Lot Information
| Singlewide Lots: | 113 |
RV Information
| Number of RV Lots: | 10 |
| Average RV Lot Rent: | $335 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
Park-Owned Homes
| Number of Park-owned Homes: | 16 |
| Average Rent for Park-owned Homes: | $860 |
