Small Mobile Home Park

[Tommy Vise]

I have a small Mobile Home Park under contract.

• Property Information

Address:  Florence, Alabama
o Price: $66,000

o Rent Value: $1,250 +/ month ($400, $300, $300, $250)

o Cap Rate: 16   (1,250 x 12 x .70 / 66,000= 16 )

o Initial Repair Estimate:4-6k

      -Paint each MH exterior (if you want to)

      -Paint and refurbish building for storage

o # of lots: 4

o # OF Vacants: 0

o MH tenant responsibilities: Water, Electricity, Gas, Trash---All are individually metered to the resident.

o Cash Flow : $1,250--> This is low rent for this park. It could be raised $50/mobile home and increased to $1450 immmediatly.  This makes the Cap Rate to increase to 19.

****Also, if desired, you can move in newer Mobile Homes and charge $500-$600 per month them.

o Expenses: Insurance $700/year

Yearly Inspection Stickers: 4 x $70 = $280

Taxes/year= $500

Total = $1,480/year

o Taxes: $500

o Basement: No

o Vacant/Occupied: All Occupied

Thanks,

Tommy Vise

256-856-8728