Mobile Home park - Deal analysis

[Joe Gilroy]

20 site Mobile home park  

List price  - $375,000

Cap rate  - 10 

No park owned homes  - all site rent  

14 occupied with potential upside of 6 sites to move new homes onto

$350 per month site rent

Park pays water /trash

8 acres   - 2.5 sites / acre

Gross rental income  $58,800

Total expenses         $21,057

Net Operating Inc     $37,743   

One good thing about this deal is there would be no repairs or maintenance expenses that I could think of.  

Thoughts on good deal or not ?