Quick Mobile Home Park Offer Math

Send us Fan MailYou don’t need perfect financials to price a mobile home park, you need the right questions and a clean way to do the math while you’re on the phone. We walk through a practical, real-world approach to mobile home park underwriting that starts with what every owner knows: lot rent, occupied pads, vacancy, and whether the tenants own the homes. From there, we show how to translate rough answers into a monthly income estimate you can use to make a serious offer without getting stuck waiting for a tax person or a missing rent roll. Then we dig into two pricing lenses investors argue about all the time: the 2% rule and cap rate valuation. We explain why a conservative rule of thumb can protect you on smaller parks, and how to switch to NOI and a 10 cap framework as lot count and deal size grow. You’ll hear how to estimate net operating income by assuming 50% expenses when the numbers are messy, why NOI ignores debt service, and how different cap rates (like 6 to 8 caps versus a 10 cap buy) can change value and built-in equity fast. Utilities can make or break your downside risk, so we also cover due diligence priorities like city water, city sewer, septic systems, and why a private well can be a hard no. Finally, we connect the underwriting to the value-add plan: infill lots, boosting occupancy, increasing NOI, and using a refinance to access cash while keeping long-term cash flow. If you’re analyzing mobile home parks or even RV parks, this is a clear playbook for thinking like a buyer. Subscribe, share this with a friend hunting for their first park, and leave a review with your biggest underwriting question.Support the show🎧 Enjoyed this episode? Don't forget to hit the like button and subscribe to Property Prophets for more valuable insights and captivating conversations with real estate experts. Your support means the world to us! Follow Travis on social media for even more Real Estate Advice: www.facebook.com/travis.wells.7587Instagram :  / travisclaywells  ​TikTok: / travisclaywells  ​Linkedin: / traviscwells