Building Details

Year Built 1956

Buildings 1

Stories 1

Units 10

Construction stick-built

Tenancy Multi

Listing Agency: RE/MAX Executive

Listed By: Jamie Purvis · License #283426 Show Phone

Source: Crexi

Added: May 6 Changed: Oct 13 Last Checked: Oct 14 at 9:04PM

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Investment Insights

Based on property information with market context.

This mobile home park at 417 Masontown Rd in Newport, NC includes 10 rental lots and a stick-built residence. Each lot is occupied, and the home has an established tenant with 26 years of tenure. The residence needs interior remodeling, while recent improvements include a roof installed in 2022 and a bathtub added in 2023.

The property’s water infrastructure includes a well and pressure tanks replaced less than one year ago. Septic tanks serving the property were emptied and inspected two years ago and were found to be in good condition. Current site improvements combine occupied mobile home lots with an additional residential structure.

Key Highlights

• 10 rental lots, all currently occupied
• Stick‑built home with a tenant in place for 26 years
• Home roof replaced in 2022

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,872

Cap Rate

3.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$297,440 $297.4K

Cap Rate 7%

$212,457 $212.5K

Cap Rate 9%

$165,244 $165.2K

Market Conditions

NOI Build-Up for 1,840 SF

Gross rent

$28.7K $15.60/SF

− Vacancy

−$1.7K −$0.90/SF

EGI

$27.0K $14.70/SF

− OpEx

−$12.2K −$6.61/SF

NOI

$14.9K $8.08/SF

Area

Carteret County, NC

Vacancy

5.80%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$297,440

Cap Rate 7%

$212,457

Cap Rate 9%

$165,244

Alternative Uses

Best Use

Apartment 5plus

$212.5K

$185.9K – $247.9K (±1% cap)

NOI $14,872 @ 7.0% cap · market cap 3.01%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$552.0K

$483.0K – $644.0K (±1% cap)

NOI $38,640 @ 7.0% cap · market cap 7.81%

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

Property Analytics

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Current Use

Four Seasons Tiny ... Construction Company

Suggested Use

Top Pick Restaurant Auto Repair Shop Auto Parts Store Spa & Massage Center Big Box & Wholesale Store Pharmacy

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

1

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

42

Businesses Nearby

Explore this area Business Placement

Demographics for 28570, NC

21,647

Population

10,819

Households

2

Avg Household Size

46

Median Age

24%

College-Educated

92%

High-School Grad

148.8 sq mi

ZIP Area

145

Density / Sq Mi

$69,018

Median Household Income

$36,753

Median Earnings

$951

Median Rent

$245,300

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?

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Frequently Asked Questions

What type of property is this?

Mobile home & RV park - Income-producing park with occupied lots and an on-site stick-built home requiring interior updates.

Where is this mobile home & rv park located?

The property is located at 417 MASONTOWN RD Newport, NC.

What is the asking price?

The asking price for this property is $494,900.

What are key features of this property?

This property features: 10 rental lots, all currently occupied; Stick‑built home with a tenant in place for 26 years; Home roof replaced in 2022