32 lots in Midland, TX
(10) MH , (8) RV, (14) Cabins.
28 occupied.
MHs are TOH & direct-billed electric.
All RVs and Cabins are long-term.
The average monthly rate is $633.
Serviced by Well and Septic.
(14) Cabins: $850/mo
Fully furnished & equipped with
cable, wifi, kitchens, and A/C.
(10) MH Sites: $600/mo
Direct-billed for electric.
Mostly double-wides.
(8) RV Sites: $450/mo
Full hookup (W,S,E).
Wifi included.
2023 Financials
💎 Avg Occupancy……………….. 87%
💎 Gross Revenue…….. $220,394
💎 Expenses………………….…-$76,984
💎 Expense Ratio…………………..…35%
💎 NOI……………………….……..……..$143,410
💎 10% cap value………$1,400,000
Investment Overview
💎 Capital Required…….….… $150k
💎 Annualized Interest…….….. 12%
💎 Monthly Payments….. $1,500
💎 Exit Strategy……….………………. Refi
💎 Principal Payback…... 12 mo.
💎 Lifetime Ownership….……. 5%