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Mobile Home Park

Battlefield MHP

Capri Dr, Vicksburg, MS 39180

Listing Price: $350,000

Cap Rate
7.60%
Number of Spaces
14
Lot Size
7.00 acres
Occupancy
92.9%
Price/Space
$25,000
Spaces/Acre
2.00
Year Built
1980

Investment Overview

Battlefield MHP, a 14-lot, manufactured home community that’s 93% occupied and located in Vicksburg, MS. Just 41 miles from the center of the capital of the state, Jackson, MS. Vicksburg sits on the Mississippi River Vicksburg is home to four casinos, with a large portion of the market’s economy surrounded by the casinos and gambling. The community is comprised of 14 MH lots. Of the 14 MH lots, there is 1 tenant owned at $250 lot rent avg, 12 park owned homes with an average payment of $579 including the lot rent. There is 1 vacant lot that is developed and home ready. Battlefield MHP is on public water & public sewer, which are directly billed to tenants. Trash is curbside pickup and is also directly billed to tenants. At $350,000 we are offering investors the opportunity to purchase a stabilized, cash-flowing investment property, with a 15.4% cash-on-cash return Year 1. Given the current tenant mix and occupancy rate, Battlefield MHP will qualify for recourse bank debt. We are using a debt quote at 65% LTV, 4.85% interest only, 20-year amortization, on a 5–10-year term. Those are the loan terms we modeled in our underwriting.

Investment Highlights

  • Below Market Rents
  • Public Utilities Direct Billed to Tenants
  • On-site Manager Already In-Place

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Mobile Home Park

Battlefield MHP

Listing Price: $350,000

Cap Rate
7.60%
Number of Spaces
14
Lot Size
7.00 acres
Occupancy
92.9%
Price/Space
$25,000
Spaces/Acre
2.00
Year Built
1980

Investment Highlights

  • Below Market Rents
  • Public Utilities Direct Billed to Tenants
  • On-site Manager Already In-Place

Investment Overview

Battlefield MHP, a 14-lot, manufactured home community that’s 93% occupied and located in Vicksburg, MS. Just 41 miles from the center of the capital of the state, Jackson, MS. Vicksburg sits on the Mississippi River Vicksburg is home to four casinos, with a large portion of the market’s economy surrounded by the casinos and gambling. The community is comprised of 14 MH lots. Of the 14 MH lots, there is 1 tenant owned at $250 lot rent avg, 12 park owned homes with an average payment of $579 including the lot rent. There is 1 vacant lot that is developed and home ready. Battlefield MHP is on public water & public sewer, which are directly billed to tenants. Trash is curbside pickup and is also directly billed to tenants. At $350,000 we are offering investors the opportunity to purchase a stabilized, cash-flowing investment property, with a 15.4% cash-on-cash return Year 1. Given the current tenant mix and occupancy rate, Battlefield MHP will qualify for recourse bank debt. We are using a debt quote at 65% LTV, 4.85% interest only, 20-year amortization, on a 5–10-year term. Those are the loan terms we modeled in our underwriting.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

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