Mobile Home Park with Furnished Rental
For Sale
$1,299,999
1522-1524 16th St, Rockport, TX 78382
Income-producing park with leased homes, a furnished short-term rental residence, recreational improvements, and additional land.
Property Size8,997 SF
Lot Size10.00 Acres
Price / SF$144.49
Days on Market34
Property Features for 1522-1524 16th St
General Information
Standard status
Active
Size
8,997 SF
Lot size
10.00 Acres
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA, 4 x 3BR/2BA
Multifamily Units
9
Additional Details
Utilities to Site
Yes
Amenities
screened in swimming pool
Building Details
Year Built
1983
Listing Agency:
Clark Real Estate Agency
(512) 470-9955
Listed By:
Richard Clark · License #0558014
Source:
Thebranchinc
Added: Jul 28
Changed: Aug 30
Last Checked: Aug 30 at 1:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Clark Real Estate Agency
Investment Insights
Based on property information with market context.
This mobile home park includes 8 units arranged as four 2-bedroom/2-bath homes and four 3-bedroom/2-bath homes. All units are fully leased, individually metered for electricity, and equipped with appliances, including refrigerators. The property also contains a 1,797-square-foot furnished home used for short-term rentals, with a screened swimming pool and an 800-square-foot owner’s shop. The home may also serve as a residence while the park operates independently.
The property encompasses 10 acres near Cove Harbor in Rockport, Texas. At least 6 acres remain vacant, providing a substantial undeveloped component. Existing infrastructure includes 7 septic systems and 2 wells. The furnished home is regularly booked for short-term stays, including recurring summer demand, while the mobile home units provide an established leased component.
The property encompasses 10 acres near Cove Harbor in Rockport, Texas. At least 6 acres remain vacant, providing a substantial undeveloped component. Existing infrastructure includes 7 septic systems and 2 wells. The furnished home is regularly booked for short-term stays, including recurring summer demand, while the mobile home units provide an established leased component.
Key Highlights
- 8 mobile home units: four 2‑bedroom/2‑bath and four 3‑bedroom/2‑bath homes
- All 8 units are fully leased and individually metered for electricity
- 1,797‑square‑foot furnished home used for short‑term rentals
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$73,696
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,473,920
$1.5M
Cap Rate 7%
$1,052,800
$1.1M
Cap Rate 9%
$818,844
$818.8K
Market Conditions
NOI Build-Up for 8,997 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$153.3K $17.04/SF
− Vacancy
−$19.3K −$2.15/SF
EGI
$134.0K $14.89/SF
− OpEx
−$60.3K −$6.70/SF
NOI
$73.7K $8.19/SF
Area
Aransas County, TX
Vacancy
12.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,473,920
Cap Rate 7%
$1,052,800
Cap Rate 9%
$818,844
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$921.2K – $1.23M
NOI $73,696 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,753 @ 7.0% cap · market cap 18.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 78382, TX
19,432
Population
13,048
Households
1.5
Avg Household Size
53
Median Age
30%
College-Educated
92%
High-School Grad
79.9 sq mi
ZIP Area
243
Density / Sq Mi
$63,434
Median Household Income
$38,741
Median Earnings
$1,147
Median Rent
$238,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Income-producing park with leased homes, a furnished short-term rental residence, recreational improvements, and additional land.
Where is this mobile home & rv park located?
The property is located at 1522-1524 16th St Rockport, TX.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: 8 mobile home units: four 2‑bedroom/2‑bath and four 3‑bedroom/2‑bath homes; All 8 units are fully leased and individually metered for electricity; 1,797‑square‑foot furnished home used for short‑term rentals
