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Updated about 7 years ago, 10/06/2017

Account Closed
  • Oklahoma City, OK
5
Votes |
35
Posts

Pricing small mobile home parks

Account Closed
  • Oklahoma City, OK
Posted
Any rules of thumb on pricing small rural parks? Rents from landlord are 250-550 per month with him owning 7 houses and 2.5 acres land. How would I arrive at a reasonable price? Average is about 2800/month in rent but I'm not sure how to estimate expenses on old mobile homes. 50% rule gives 1400/month.. 16,800 per year. 10 cap would price it at 168k. Asking price is 175k. Seems close?

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