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Updated about 5 years ago on .

User Stats

8
Posts
2
Votes
Brian Summerall
  • Havelock, NC
2
Votes |
8
Posts

Need help valuing property

Brian Summerall
  • Havelock, NC
Posted

Hi. I am new to REI. I came across a mobile home park today that is for sale by owner. Her asking price is 250,000.

The land size is almost 3 acres. There are 4 units to be rented and 3 that pay lot rent. The combined rent is approx. 2800 a month.

There is a double wide with additions added for the owners property, it has 5 bedrooms. 

What is the normal payback time of a MHP?

The double wide and land is probably worth 125 to 150. There aren't any comps on something like this.

  • Brian Summerall