Building Details

Floors in Building 1

Flooring type Vinyl

Listing Agency: Weichert Realtors Cullman Show Phone

Listed By: Lindsey Ray · License #116801 Show Phone

Added: Aug 13 Changed: Sep 2 Last Checked: Oct 14 at 4:06AM

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MLS# 21926457

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Investment Insights

Based on property information with market context.

This mobile home park at 3985 County Road 203 includes six rental units on 1.6 acres. Lots 3 and 4 each contain a double-wide manufactured home, while Lots 1, 2, 5, and 6 each feature an updated tiny home. The units have been updated, and all six are currently occupied.

The property contains 4890 square feet of total property area and is served by public water and a septic tank. Vinyl flooring is installed throughout the reported improvements. The combination of manufactured housing and tiny homes creates a compact residential rental configuration within Lawrence County, Alabama.

Key Highlights

• Six rental units, all currently occupied
• 1.6‑acre property with 4890 square feet of property area
• Lots 3 and 4 each include a double‑wide manufactured home

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,236

Cap Rate

6.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$744,720 $744.7K

Cap Rate 7%

$531,943 $531.9K

Cap Rate 9%

$413,733 $413.7K

Market Conditions

NOI Build-Up for 4,890 SF

Gross rent

$72.2K $14.76/SF

− Vacancy

−$4.5K −$0.92/SF

EGI

$67.7K $13.84/SF

− OpEx

−$30.5K −$6.23/SF

NOI

$37.2K $7.61/SF

Area

Morgan County, AL

Vacancy

6.20%

Lease Rate

$14.76 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$744,720

Cap Rate 7%

$531,943

Cap Rate 9%

$413,733

Alternative Uses

Best Use

Apartment 5plus

$531.9K

$465.5K – $620.6K (±1% cap)

NOI $37,236 @ 7.0% cap · market cap 6.37%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.02M

$890.2K – $1.19M (±1% cap)

NOI $71,214 @ 7.0% cap · market cap 12.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mobile home & RV ...

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Grocery & Convenience Store Hair Salon Nail Salon Spa & Massage Center

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

6

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

Explore this area Business Placement

Demographics for 35619, AL

5,048

Population

2,413

Households

2.1

Avg Household Size

41

Median Age

13%

College-Educated

78%

High-School Grad

131.2 sq mi

ZIP Area

38

Density / Sq Mi

$64,295

Median Household Income

$38,904

Median Earnings

$993

Median Rent

$150,000

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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?

Frequently Asked Questions

What type of property is this?

Mobile home & RV park - Updated rental community with a mix of manufactured and tiny homes, public water, and septic service.

Where is this mobile home & rv park located?

The property is located at 3985 County Road 203 Danville, AL.

What is the asking price?

The asking price for this property is $585,000.

What are key features of this property?

This property features: Six rental units, all currently occupied; 1.6‑acre property with 4890 square feet of property area; Lots 3 and 4 each include a double‑wide manufactured home