5925 Old Highway 80 W Meridian, MS 39307

The property at 5925 Old Highway 80 W in Meridian, Mississippi, is a 15-pad mobile home park. It is offered at a price of $225,000. The property generates approximately $29,800 in annual in-place income, producing an estimated $22,350 NOI using a conservative 25% expense ratio. The property has a strong ~9.9% in-place cap rate and a clear, executable value-add plan. Utilities include city water and sewer, with separately metered electric and water billed back to tenants. Property taxes are extremely low at $994 projected for 2025. Planned upgrades of approximately $50,000 are focused on curb appeal, cleanup, and basic park improvements. Lot rents are projected to increase to $325 per pad while maintaining affordability in the local market. At stabilization (12 occupied pads), the property supports $46,800 in gross annual income and an estimated $35,100 NOI, equating to a ~12.7% cap rate on cost at a $275,000 all-in basis. At stabilized operations, the property supports values of approximately: $319,000 at an 11% cap, $351,000 at a 10% cap, and $390,000 at a 9% cap. This creates meaningful equity upside of ~$44K–$115K, depending on exit cap, with additional long-term upside from three vacant pads that have been confirmed with the city for continued use and potential infill.