The portfolio is located at 1021 Ashberry Avenue, New Braunfels, Texas, in the high-growth I-35 corridor.

It comprises 65 acres of residential estates with three distinct revenue streams: manufactured home lots, tiny home rentals, and storage garages.

The asset includes 202 manufactured home lots, 45 Beau Village tiny home rentals, 84 Secret Squirrel storage garages, and one single-family home.3
Investment and Operational Highlights

The property operates as a turn-key cash-flow asset with maintained long-term stability and an on-site manager apartment.

Immediate Net Operating Income (NOI) upside exists through a structured rent-rationalization program because current lot rents sit below regional benchmarks.

A Rent-to-Own program covers 17 park-owned homes, encouraging multi-year occupancy and shifting maintenance duties to tenants.

Financial Summary by Segment

Live Oak Mobile Park Homes: Generates $1,215,396.02 in gross income with an operating expense ratio of 23.3%, yielding an NOI of $933,335.95 at a 94.9% occupancy rate.

Park-Owned Park Models (Beau Village Cottages): Generates $488,472.04 in gross income with a 36.9% expense ratio, producing an NOI of $306,963.78 at a 91.1% occupancy rate.

Secret Squirrel Garages: Achieves 100% occupancy to generate $92,398.02 in gross income, operating at a 22.1% expense ratio for an NOI of $71,968.51.8

Portfolio Valuation Summary

Total combined Trailing-12 Net Operating Income across all three segments is calculated at $1,312,268.23.

Capitalization rates applied per segment are 3.79% for mobile homes, 5.00% for park models, and 6.00% for storage units.

Additional underlying asset values are detailed as $650,000.00 for park-owned homes, $2,044,288.11 for 13 acres of land, and $150,000.00 for the Grape Street house.

Market and Demographic Context

The surrounding 5-mile population is projected to grow from 107,778 in 2026 to 125,963 by 2031, reflecting a 3.17% growth rate.

Median household income within a 1-mile radius stands at $77,905, while the 3-mile and 5-mile metrics exceed $101,000.

Top regional employers fueling economic stability include Comal ISD, Schlitterbahn Water Park, and TaskUs.

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