Current Use by Public Records
- Mobile home & RV parks
Property Details for 100 Confidential
- Property type
- Mobile home & RV parks
Description
This exceptional 43-unit mobile home park presents a compelling investment opportunity in Dunham, Ohio, near Parkersburg, WV. Currently boasting 93.02% occupancy, the park generates a substantial net operating income (NOI) of $89,081, with a 6.14% cap rate. A pro-forma NOI of $129,424 and an 8.93% pro-forma cap rate highlight significant upside potential. The property comprises 43 pads, priced at $33,720.93 per pad, for a total asking price of $1,450,000. The park's 33 lot renters pay an average monthly rent of $273, while three park-owned homes generate an average of $733 monthly rent ($280 lot rent + $453 home rent). Four rent-to-own tenants contribute an average of $688 monthly ($283 lot rent + $405 home payment). Three vacant lots offer immediate expansion potential. The existing homes are predominantly newer models, and all utilities are billed directly to tenants. The property sits on approximately 45.64 acres, offering further development possibilities. The significant upside potential stems from raising rents to market rates (all tenants are on month-to-month leases) and selling the three park-owned homes. This well-managed, stabilized community is ideal for both experienced investors and those seeking entry into the mobile home park market. The property's strong home demand is evidenced by the ease with which the seller has sold rent-to-own homes, often with substantial down payments. The APN is 100043796000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Dunham
- County
- State
- Ohio
- Longitude
- -81.6254
- Latitude
- 39.3297
