Three-Parcel Mobile Home
For Sale
$450,000
471 Grayson Way, Signal Mountain, TN 37377
For sale portfolio with two rent-ready manufactured homes and a vacant lot with dedicated utilities.
Property Size2,250 SF
Price / SF$200
Days on Market257
Property Features for 471 Grayson Way
General Information
Standard status
Active
Size
2,250 SF
Property subtype
Farm
Additional Details
Business Included
Yes
Utilities to Site
Yes
Amenities
A/C - Other
Other
Fenced Yard.
2 Garage Spaces. 1 Carport Spaces.
145X181
Other.
Building Details
Year Built
1994
Listing Agency:
Oak and Willows Real Estate Collective PLLC
(423) 218-2212
Listed By:
Tag Thompson
(678) 371-1724
Source:
Xome
Added: Nov 25, 2025
Changed: Aug 8
Last Checked: Jul 17 at 5:01PM
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 Oak and Willows Real Estate Collective PLLC
Investment Insights
Based on property information with market context.
Offered as a three-parcel mobile home portfolio designed with independent infrastructure by lot. Parcel one includes a fully renovated 3-bedroom, 2-bath double-wide that is ready for immediate tenant placement. Parcel two contains a 3-bedroom, 1-bath single-wide in rent-ready condition. Both existing units have been professionally detitled.
The third parcel is a prepared, vacant lot equipped with its own dedicated power pole, water connection, and septic system, supporting the addition of a third unit. The separate utilities for each lot are intended to simplify management and cost allocation. All units are currently vacant, giving the buyer flexibility to establish new rental terms.
The property is located at 471 Grayson Way in Signal Mountain, Tennessee, and is being sold as an assembled offering of three distinct parcels.
The third parcel is a prepared, vacant lot equipped with its own dedicated power pole, water connection, and septic system, supporting the addition of a third unit. The separate utilities for each lot are intended to simplify management and cost allocation. All units are currently vacant, giving the buyer flexibility to establish new rental terms.
The property is located at 471 Grayson Way in Signal Mountain, Tennessee, and is being sold as an assembled offering of three distinct parcels.
Key Highlights
- Portfolio of 3 parcels: 3‑bedroom/2‑bath double‑wide plus a 3‑bedroom/1‑bath single‑wide and a prepared vacant lot
- Double‑wide is fully renovated and in rent‑ready condition for immediate tenant placement
- Single‑wide is in rent‑ready condition (3 bed/1 bath)
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
$17,361
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
3.86%
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%
$347,220
$347.2K
Cap Rate 7%
$248,014
$248.0K
Cap Rate 9%
$192,900
$192.9K
Market Conditions
NOI Build-Up for 2,250 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
$35.9K $15.96/SF
− Vacancy
−$4.3K −$1.93/SF
EGI
$31.6K $14.03/SF
− OpEx
−$14.2K −$6.31/SF
NOI
$17.4K $7.72/SF
Area
Hamilton County, TN
Vacancy
12.10%
Lease Rate
$15.96 /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%
$347,220
Cap Rate 7%
$248,014
Cap Rate 9%
$192,900
Alternative Uses
Best Use
Apartment 5plus
$248.0K
$217.0K – $289.4K
NOI $17,361 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$373.6K
$326.9K – $435.9K
NOI $26,155 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 37377, TN
17,004
Population
6,726
Households
2.5
Avg Household Size
44
Median Age
60%
College-Educated
95%
High-School Grad
80.5 sq mi
ZIP Area
211
Density / Sq Mi
$115,959
Median Household Income
$65,869
Median Earnings
$1,389
Median Rent
$483,800
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 - For sale portfolio with two rent-ready manufactured homes and a vacant lot with dedicated utilities.
Where is this mobile home & rv park located?
The property is located at 471 Grayson Way Signal Mountain, TN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Portfolio of 3 parcels: 3‑bedroom/2‑bath double‑wide plus a 3‑bedroom/1‑bath single‑wide and a prepared vacant lot; Double‑wide is fully renovated and in rent‑ready condition for immediate tenant placement; Single‑wide is in rent‑ready condition (3 bed/1 bath)
