Building Details

Building Size 1,280 SF

Year Built 2008

Buildings 3

Stories 1

Units 3

Tenancy Multi

Listing Agency: Keller Williams Upstate NY Properties s***@catskillcountryliving.com Show Phone

Listed By: Susan Muther · License #10401290369 Show Phone

Source: Northstarwny

Added: Jul 31 Changed: Aug 23 Last Checked: Aug 23 at 9:26AM

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Investment Insights

Based on property information with market context.

This one-acre mobile home park at 348 Vandeusen Rd in Davenport, NY, includes three park-owned, single-wide manufactured homes. The residences are occupied and configured as two 3-bedroom homes and one 2-bedroom home. Their layouts include a mix of full bathrooms, along with features such as a front stoop, rear porch, dedicated parking, and a woodland view.

Recent work to appliances, heating, and electrical systems has been approved by town code enforcement. Two septic systems serve the property, with installation dates of 2008 and 2023. Approved water and electrical service are already established, and landscaping is nearly complete. The property was built in 2008 and combines three rental homes on a single parcel.

Key Highlights

• Three park‑owned single‑wide manufactured homes on 1 acre
• Unit mix includes two 3‑bedroom homes and one 2‑bedroom home
• All three units are occupied and paying rent

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

$13,586

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

4.53%

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%

$271,720 $271.7K

Cap Rate 7%

$194,086 $194.1K

Cap Rate 9%

$150,956 $151.0K

Market Conditions

NOI Build-Up for 1,280 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

$26.1K $20.40/SF

− Vacancy

−$1.4K −$1.10/SF

EGI

$24.7K $19.30/SF

− OpEx

−$11.1K −$8.68/SF

NOI

$13.6K $10.61/SF

Area

Delaware County, NY

Vacancy

5.40%

Lease Rate

$20.40 /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%

$271,720

Cap Rate 7%

$194,086

Cap Rate 9%

$150,956

Alternative Uses

Best Use

Apartment 5plus

$194.1K

$169.8K – $226.4K (±1% cap)

NOI $13,586 @ 7.0% cap · market cap 4.53%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$628.0K

$549.5K – $732.7K (±1% cap)

NOI $43,960 @ 7.0% cap · market cap 14.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Mobile home & RV ...

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Garden Center Restaurant Gym & Fitness Center Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

4

Businesses Nearby

Explore this area Business Placement

Demographics for 13750, NY

936

Population

499

Households

1.9

Avg Household Size

47

Median Age

44%

College-Educated

98%

High-School Grad

23.8 sq mi

ZIP Area

39

Density / Sq Mi

$64,940

Median Household Income

$47,770

Median Earnings

$788

Median Rent

$168,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mobile home & rv parks located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mobile home & RV park - Occupied park-owned homes offer residential income with approved water and electrical service already in place.

Where is this mobile home & rv park located?

The property is located at 348 Vandeusen Road Davenport, NY.

What is the asking price?

The asking price for this property is $300,000.

What are key features of this property?

This property features: Three park‑owned single‑wide manufactured homes on 1 acre; Unit mix includes two 3‑bedroom homes and one 2‑bedroom home; All three units are occupied and paying rent