Struggling with MHP Valuation

[Austin Works]

I am considering buying my first mobile home park, but most information online is specific to the lot rent only model, and this park owns and rents all homes at the moment. What is the best method for putting a value on this? Numbers are below.

2019 income

$78,196.55

2019 Expenses

$24,588.40 (does not unclude any debt service payments)

NOI

$53,608.15

Asking price: $400,000

12 lots, 12 park owned mobile homes, all of which are older and in poor condition, but all are rented.