1.15 acre with 5 lots for mobile homes

[Charlie McClskie]

Found a 1.15 acre lot with five lots. The property is clear now, but it once had 3 mobiles on it. The seller wants $31.5K for the property, but would probably take $25K cash. Lots could sell individually for around $8K. I'm thinking of gradually putting and renting 5 new single wides on the land then renting them out. Rents around that market are about $650 a month. Impact fees are paid already. There's 5 separate septics and one well for water. Thoughts on this deal?

[Rachel H.]

Definitely check with the city regarding zoning to see if there are any limitations on putting mobiles on it. Some areas grandfather existing mobile homes but restrict putting new ones or may have specific criteria on the types of homes you can bring in. Good luck!