| CREOP

The lot rent for the tenants is currently at $200/month and was raised to that amount in August of 2024. There is an additional $25/month charge for the water usage.
There is one park-owned home on the property that pays $440/month. The POH is in lot 24 and is a 1983 Marshfield home.
Rent is collected by check, cash, or money order and dropped off at the current owners' home.
There is a $30 late fee charge that is assessed after the 7th of the month.

The single family home includes a 2-car detached garage and is currently being rented for $510/month. The roof was replaced in 2016 and the current owners have windows for the top floor of the home that will be included in the sale.

The park is serviced by rural municipal water and a private lagoon septic system. Each tenant is charged $25/month for water usage.
The water lines are 1 1/4" pipes. The water usage is metered by a master meter at the park entrance and billed back evenly to all the tenants each month.
Most electrical wires were placed underground within the last 5 years. Each lot is serviced by 100-200 amps.

The sewer is serviced by a lagoon system that is located across the street to the south of the park.
The testing is completed by the current owners by bringing a sample to Keokuk Municipal Sanitation. They pay $535 per year to have testing completed.
The lagoon water level is lowered twice per year.
A new aerator was been installed in 2025.

The current owners are responsible for mowing the vacant lots, road maintenance (gravel road), tree trimming, and plowing the snow. There is a $30 fee that is charged for tenants that do not mow their yards.

Market rates in the area could support $300/month lot rents. Additionally, the single family home rent could be increased to $600/month.
There are currently 9 vacant lots that could have homes placed on them to increase income.
The trash collection is paid for by the current owners. It could be billed back to the tenants to reduce yearly expenses by nearly $3,500.

Keokuk, IA has a population of about 10,000 people and a median household income of $52,711.
Currently, 64% of residents own their home, while 36% of residents rent.
The largest industries in Keokuk are Manufacturing (20.7%), Healthcare (15%), and Retail Trade (11.6%).
The largest employers in the area include: DuPont Chemicals, Conagra Food Processing, Roquette Pharmaceuticals, American Ordnance, Great River Health Systems, Siemens Gamesa Renewable Energy, and the Iowa Fertilizer Company.
Keokuk has a limited housing inventory and a significant need for additional affordable housing options to meet resident needs.

Middletown, IA (35 miles from MHC) recently broke ground on a $1.5 billion addition to their current munitions plant. It is scheduled to be completed in 2029 and aims to bring 70 new full-time jobs to the area at the plant alone.
Allied Blending (food processing) in Keokuk, IA recently completed a new 50,000 sqft facility bringing in additional employment, and creating further housing demand in the area.