12182 State Highway 64 Tyler, TX 75704

River Birch Estates is an 88-site manufactured housing community. It presents a value-add opportunity through lease-up, income normalization, and operational optimization. The community currently generates approximately $406,000 in total revenue and $217,448 in Net Operating Income. The property is operating at approximately 73.9% economic occupancy, with 65 occupied revenue-generating sites at an average space rent of $450 per month. The remaining sites include a mix of vacant pads, undeveloped lots, and non-income-producing spaces, creating a path for expansion without additional land acquisition. Utilities are supported through resident reimbursements. Investors have the opportunity to acquire a partially stabilized asset with upside tied directly to infill and disciplined management. The business plan assumes a structured lease-up beginning in Year One, with average occupied sites increasing to 69 homes (78.4% occupancy). Under the Year One model, total revenue is projected at approximately $500,000, with NOI of $307,766 as operations transition toward stabilization. By Year Three, occupancy is projected to reach 87.5%, with average rents increasing to $640 per month, driving NOI to approximately $428,000+. Expense ratios improve over the hold period as fixed costs are leveraged across a larger rent base, declining to approximately 34% by Year Three. The investment thesis is based on infill-driven growth and operational leverage.