Income-Producing Mobile Home
For Sale
$175,000
28671 Martin Road N, Evans Mills, NY 13637
1.7-acre mobile home park near Evans Mills with income potential.
Property Size1,080 SF
Lot Size1.70 Acres
Days on Market130
Property Features for 28671 Martin Road N
General Information
Standard status
Active
Size
1,080 SF
Lot size
1.70 Acres
Property subtype
Multi Family Home
Zoning
Residential Multi Use
Taxes and HOA fees
Annual Taxes
$1,738
Building Details
Building Size
1,080 SF
Year Built
2006
Stories
1
Units
4
Listing Agency:
Keller Williams Northern New York
(315) 778-6473
Listed By:
Noah Taylor · License #10401359495
(315) 778-6473
Source:
Wcirealty
Added: Apr 17
Changed: Aug 23
Last Checked: Aug 24 at 12:47PM
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 Keller Williams Northern New York
Investment Insights
Based on property information with market context.
This 1.7-acre property, classified as a mobile home park, features four mobile homes. One unit is owned by the seller and tenant-occupied, generating $650 per month in rental income. The remaining three units are tenant-owned, with each paying $360 per month in lot rent. The seller-owned unit is positioned as the far-left home when facing the property. The property is located minutes from Evans Mills, providing convenient access to local restaurants, schools, and Fort Drum. The location has a bike score of 30, indicating it is somewhat bikeable, and a walk score of 38, indicating car-dependent transportation.
Key Highlights
- Income‑producing property with existing tenants
- 1.7‑acre lot classified as a mobile home park
- Conveniently located near Evans Mills, restaurants, schools, and Fort Drum
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
$7,955
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
4.55%
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%
$159,100
$159.1K
Cap Rate 7%
$113,643
$113.6K
Cap Rate 9%
$88,389
$88.4K
Market Conditions
NOI Build-Up for 1,080 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
$15.6K $14.40/SF
− Vacancy
−$1.1K −$1.01/SF
EGI
$14.5K $13.39/SF
− OpEx
−$6.5K −$6.03/SF
NOI
$8.0K $7.37/SF
Area
Jefferson County, NY
Vacancy
7.00%
Lease Rate
$14.40 /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%
$159,100
Cap Rate 7%
$113,643
Cap Rate 9%
$88,389
Alternative Uses
Best Use
Apartment 5plus
$113.6K
$99.4K – $132.6K
NOI $7,955 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.7K
$260.5K – $347.3K
NOI $20,840 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 13637, NY
4,980
Population
2,491
Households
2
Avg Household Size
27
Median Age
19%
College-Educated
95%
High-School Grad
35.2 sq mi
ZIP Area
141
Density / Sq Mi
$62,786
Median Household Income
$36,867
Median Earnings
$1,318
Median Rent
$189,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - 1.7-acre mobile home park near Evans Mills with income potential.
Where is this mobile home & rv park located?
The property is located at 28671 Martin Road N Evans Mills, NY.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Income‑producing property with existing tenants; 1.7‑acre lot classified as a mobile home park; Conveniently located near Evans Mills, restaurants, schools, and Fort Drum
