Current Use by Public Records
- Mobile home & RV parks
Property Details for 113 Henderson Dr
- Lot size
- 1.84 lot acres
- Property type
- Mobile home & RV parks
Description
This well-maintained 15-pad mobile home park in Ellerbe, North Carolina, presents a compelling investment opportunity. The property sits on 1.84 acres and includes 10 occupied lots generating a Net Operating Income (NOI) of $29,699, resulting in a 7.43% capitalization rate. The asking price is $405,000. Five vacant lots offer significant upside potential for future development and increased revenue. The park benefits from a direct-billing structure for electricity, with city-provided water and sewer, minimizing operating costs. Located in Richmond County, this property is strategically positioned in a growing market for affordable housing, offering both immediate returns and long-term value appreciation. Ellerbe's proximity to larger regional markets like Rockingham and Fayetteville further enhances its appeal. The stable local economy, coupled with the increasing demand for affordable housing in suburban and rural areas, makes this a strong investment prospect. The existing lot rents provide a predictable cash flow, minimizing vacancy risk and offering a steady income stream. The vacant pads can be developed to increase occupancy and rental income, adding to the overall return on investment. This property offers a blend of immediate income and future growth potential in a desirable North Carolina location.
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
- Ellerbe
- County
- Richmond
- State
- North Carolina
- Longitude
- -79.7648
- Latitude
- 35.0692
