Value of a mobile home

[Stephen Stanton]

Looking at buying a mobile home currently on a lot in a rv park.  The park manager has no issues with the mobile being rented out. 

This lot is owned not rented. I used  NADA and got a value on the mobile, it's a 2007 model. There are currently a few lots for sale in the park and I know what they are going for.  

Would a fair offer for this place be land value plus nada value for the mobile?

This park is in a small town and I really can't get any comps. The area sales are few with some mobiles in the park being sold on rented lots and others being new mobiles or older mobiles. 

[Adrian Smude]

You should be able to come up with a value the same way as a single family home. I typically deal in older mobile homes which I put most of my offer price on cash flow as they can be more difficult to come up with a real value.