“Initiatives such as CodeNEXT can pave the way for smarter more sustainable growth in Austin, and in turn make housing more affordable across the region.

We also would like to reside the house and pave the driveway (it's currently dirt).

Here's the scoop:- 40 of the 44 pads are filled- Park owner owns 27 of the mobile homes (no vacancies)- Most of the homes range from 1990s to early 2000s- Park road needs to be paved, some of the homes (maybe 3 or 4) need to be replaced. - City water, but not sewage.

I was a contractor for many years and understand what goes into repairs from window to doors, remodeling kitchens, laying tile, or paving a driveways.  

And there is off street parking in a paved lot next to the building.Taxes $6042Insurance $1500Electric in common areas $600Water, sewer, garbage $1100Maintenance & CapEx (10% each) $7080Vacancy (6%) $2124Loan payment $11,112Income $35400Operating income $32276Operating expenses $16322NOI $16954Cash Flow (after loan) $5842$162 per unit per month 7.4% cap9.1% CoC Rent to value of 1.2% 5 year hold at 3% appreciation 2% income and expense increase 93.9% ROI and 14.2% IRR The property is newer than most multifamily properties I have seen listed for sale, like the one built in 1884 that I looked at the other day but had severely outdated electrical (knob and tube) and plumbing which scared me away from the deal.

Elizabeth I Winnals depends on wooded or cleared, sloped or flat, utilities or not, paved road or not, fenced or not... a lot of things can play into land value so it’s hard to determine without laying eyes on it... given all the variables I’d say it’d be as cheap as $1K an acre or possibly up to $4K an acre... if it’s in the city maybe a bit more.

But like Insaid todays acrylic latex is sonewhat vapor permeable so should perform fine.  

Paved Is this a good deal?

(Wish they would've never torn down all of the historic downtown buildings that they did for the purpose of paving surface parking lots so I am a supporter of redeveloping all of the parking lots downtown).

The 1 acre is nice and paved has easy road acess and he pays taxes on it .