Mobile Home Park with
For Sale
Contact for pricing
417 MASONTOWN RD, Newport, NC 28570
Income-producing park with occupied lots and an on-site stick-built home requiring interior updates.
Property Size1,840 SF
Price / SF$268.97
Days on Market117
Property Features for 417 MASONTOWN RD
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Mobile Home Park
Zoning
R-20
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
1
Building Details
Year Built
1956
Buildings
1
Stories
1
Units
10
Construction
stick-built
Tenancy
Multi
Listing Agency:
RE/MAX Executive
(704) 662-0095
Listed By:
Jamie Purvis · License #283426
Source:
Crexi
Added: May 6
Changed: Aug 30
Last Checked: May 8 at 9:55AM
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 RE/MAX Executive
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.
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 = 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
$14,872
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
3.01%
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%
$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
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
$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 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%
$297,440
Cap Rate 7%
$212,457
Cap Rate 9%
$165,244
Alternative Uses
Best Use
Apartment 5plus
$212.5K
$185.9K – $247.9K
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
NOI $38,640 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
