MHP Deal Analysis: Need Some Wisdom

[Will Graham]

I am interested in what folks think about this deal. I'll try to not get too nitty gritty but also give enough info.

Park Info:

-Asking Price: 200k

-95 Space Park: 30 Occupied Tenant Owned Homes | 15 Vacant Park Owned Homes

-City Water / City Sewer that is direct billed to tenants. 

-Lot Rent is $125 | Gross Monthly Income is $3,750

-Roads have some potholes and will need some work.

Location Info:

-The population of the town has decreased by over 20% since 2000

-Median Household Income: 30,000

-32% of the population is below the federal poverty line

-Median Rent: $670 | Median House Value: $75,000

-Crime Rate is 4x U.S. average

Summary: 

I feel like the numbers of the deal are solid. I believe rents are below market by $50 or so. Which would make it slam dunk. Even if you didn't fill any more lots. My concern is the city. The high crime, high poverty, and steady population decline. Thoughts?