Looking for Help Analyzing Potential Mobile Home Park Deal

[Greg Myroth]

Jefferson Lily's podcast on Mobile Home Park Investing got me excited about potentially investing in a park. I have been actively reading all I can and searching for deals. I am curious what experienced park investors think about this potential opportunity. 17 homes. 16 currently rented. Many long-term tenants. The combined trailer and lot rental is currently at approximately $400/mo. Monthly income of $6795. Expenses: Water $600/mo. Garbage $350/mo. Insurance $350/mo. Common area lighting $75/mo. Taxes $7100/yr. Estimated maintenance assumed $500/mo, Management assumed $500/mo. Capex assumed $400/mo. City water and City sewer. Homes are all currently well maintained and all our seller owned (none are owned by tenants) which I understand is not preferred. Property is in a good part of the City. Also has several garages onsite that are not currently rented. There is extra 1 ac available for future development possibly self storage units. Asking price is just under $300,000. What are your thoughts on the price and the viability of this deal? What value do you assume for trailers and lots? Looking forward to everyone's feedback on this one! Thanks in advance!