How do I find out how much my mobile home park is worth?

How do I find out how much my mobile home park is worth?

How to Evaluate a Mobile Home Park

  1. Average Monthly Lot Rent X Paying Lots X 12 Months X Operating Income Ratio / Cap Rate = Land Value.
  2. Example: $1,512,000 Land Value – ($100,000 Road Repairs + $27,000 Sewer Line Repairs) = $1,385,000 Land Value with Immediate Repairs Included.

Whats a trailer park worth?

Estimating the value of a mobile home park is relatively simple, as it’s all based on income. Most mobile home parks sell for a range of 8% to 10% cap rates, which equates to roughly ten times the annual net income.

How old is a park model mobile home?

Think of the reverse situation if you spend winters in a warm location. Buy a park model mobile home in a location with cold winters and spend your summers there. This is exactly what we considered, buying a park model in Oregon, years ago. The unit overlooking the water was 10 years old and priced at $18,000.

Can you live in a mobile home park?

Do not dismiss this as trailer park living. Far from it…the complex they chose (after a lot of research I might add) is well located and has about 10% of its spaces set aside for RV’s. The rest are park model mobile home units that are fixed to the ground. Here is what you will find at a typical RV Retirement park.

Is there a website for Park home living?

Park Home Living also offers you a mass of information about the park home lifestyle throughout the website and on our Downloads page.

How long can you live in a park home?

Park Home holiday sites are also popular with small investors seeking income from holiday home rentals and they attract many older people who want to live there either for eight to ten months of the year or permanently.

How many lots are there in mobile home parks?

There are approx. 400 mobile home lots. The park offers many amenities including pools, Jacuzzis, recreation, golf in area, social activities, and more. Shopping is nearby.

Can a mobile home park be replaced with a new one?

Gradually mobile homes are being replaced with new models. Many of the mobile homes in these parks are old. There is a gradual upgrading as newer homes are replacing older ones in parks. You can buy or lease the lot for the location and then replace the home with a newer model.

Can you retire in a mobile home park?

As retirement approaches, the prospect of downsizing into a new, affordable, energy-efficient manufactured home in a friendly, village-like mobile home park certainly has its appeal.

Can a mobile home park be sold for profit?

Check your contracts for details regarding this matter. Because older mobile home parks are on land that was purchased when land was cheap, many are in desirable locations. These communities, called land-leased, can be vulnerable to the owner selling the land if he stands to profit greatly from the sale.

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