COC for my first Mobile Home Park

[Timothy W Hanson]

Hello everyone, 

I'm in negotiations of a mobile home park deal, this would be my first mobile home park. I wanted your impression on these numbers. 

Rents: $13,095 per month. 

Financing: $4910 per month. 

Expenses: $4000 per month.  (For insurance, taxes, landscaping/street maintenance, and park manager, well/septic)

This means, $4185, profit per month. Or $50,220 per year. My down payment will be about $140,000. So about a COC return of >33%, what are you guy's thoughts? I know lots of you have more experience on this. The homes are all park own besides 4 which are under contract to own.