Investment Overview

• The subject property features 10 lots, with 8 currently occupied by paying tenants. One home is vacant and in need of removal, with one of the occupied homes also likely in need of removal. Lot rent is currently $180 per month with the park paying for trash service, and all other utilities billed directly to the tenants. Tenants are also responsible for their own lawn maintenance. Lot rents in the immediate area range from $450 to $530 with park owned home rents ranging from $950 to $1,200 for newer inventory. Replacing the existing homes would offer significant upside for a new owner in a high demand market.

Utilities and Infrastructure

• The property is served by 100% public, direct billed utilities. Current ownership pays trash service, which future ownership could bill back or have contracted directly to the tenants. Water and sewer lines were replaced roughly 15 years ago by current ownership, offering lower capital requirements for future ownership. Contact Broker for Additional Details

Lot Rent and POH Rent Comparables

• Communities in the Oskaloosa area currently average $450- $530 per month for lot rent. Newer park owned homes in the area currently rent for $950-$1,200 per month. By raising lot rents over time and bringing in newer homes to replace the current homes, a new owner can significantly raise the income generated by the property. Ownership removed one home earlier this year with a local contractor for a cost of $4,000. Contact Broker for Additional Details

Available Documents

• Seller is the original developer and can answer questions on the property, but financials are limited. Seller is able to provide proof of payments and historical expenses but does not have individual tax returns for the property. Contact Broker for Additional Details

Financial Analysis

• The financial analysis assumes raising rents to $225 year one, with a $25 raise each year thereafter. The financial analysis did not account for removing and replacing homes and bringing the park to market rates due to the variables involved. Contact Broker for Additional Details.