Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 12.4%
  • Property ID: 929015
  • Posted on May 16, 2018

Property Description

This beautiful mountain community sits Newport Tn. 35 lots no vacancies. 16 TOH and 19 POH . County water, direct billed, with one septic per home. Lots rents $200, well below market. To request further information click link.
https://www.surveygizmo.com/s3/4371535/df20a0afa6a7

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Park Information

Community Type: All Age
Number of MH Lots: 35
Total Occupancy: 97.0 %
Year Built: 1996
Average MH Lot Rent: $200
Size: 15.3 acre(s)

Financial Information (Pro Forma)

Gross Income $129,600
Operating Expense $51,840
Net Operating Income $77,760
Expense Ratio 40.0 %
Debt Info

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 19
Average Rent for Park-owned Homes: $200

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