4-Plex in a trailer park throwing me for a curve ball

[Alexander Glasser]

Hey all can you help me analysis this 4 plex. Just drove past the property and now i'm confused as its located inside a trailer park.  I think its over priced but looking for ways to make it work.

Listed at $720k.

Long term tenants. 2-7 years 

Rentals are $900 $950 $1200 $1300. 

Average rentals in the area come back around $1400-$1700. 

Property last sold in 2021 for $425k

Property taxes $1300.00

Being in a trailer park im not sure what I will be able to get for it for the rentals. 

Seller is also listing agent. Anyone have any ideas on how to make this deal work?

Located in NC

[Chris Webb]

Hi, Based on the information you provided, I see this as a negative cash flowing property at this price. After debt servicing I only see 442 which will be eaten up by capex and repairs @5% each.