EDDIE HICKS Buyers Agent for Manufactured Housing Community investors
ASK EDDIE
ABOUT BUYING and SELLING
MANUFACTURED HOME COMMUNITIES
  • Frequently Asked Questions
  • How to Determine Selling Price
  • I Want to Buy Your MH Park!
  • Recomended Reading

    • How To Determine The Sales Price

    Pricing for investment grade manufactured home communities is based a “CAP rate”. In real estate appraisal, capitalization is the process of converting income, in the case of real estate net rental income, to a property value. The capitalization rate or CAP Rate for short, is the ratio of yearly net income to the property value. .

    For example, a community with

  • 150 sites
  • $300 per month rent
  • 10 vacant sites,
  • Annual operating expenses (before debt service) of $200,000

    Would have a value of:

    140 (rented) sites
    x $300 per mo x 12 mo
    $504,000 Income

    less $200,000 Expenses
    Equals $304,000 N.O.I.

    which is then divided by 9.0% cap rate (for this example) = $3,377,800 Value


    • I Want To Buy Your Mobile Home Park!
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    Frequently Asked Questions   How to Determine Selling Price   I Want to Buy Your MH Park!   Recomended Reading

    Edward “Eddie” Hicks has been active in the manufactured housing industry since 1963. He is not only a Licensed Real-Estate Broker but also a Licensed Mortgage Broker. These combined backgrounds have contributed to his great success as a buyer's agent for investors seeking Manufactured Home Community properties. Mr. Hicks is a member of the Development Council of the Manufactured Housing Institute. Don't miss his popular "ASK EDDIE" contributions to the industry publication "The Journal of Manufactured Housing".



     



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