How Much Does A Mobile Home Park Cost
JB
Jeremiah Boucher Founder, Patriot Holdings • Author of Finding Your Edge
Key Takeaways
- MHP valuation is driven by lot rent, occupancy, and expense ratio — apply the income approach, not comparable sales.
- A park's value increases dollar-for-dollar with NOI improvement — raising lot rents $50/month across 100 pads creates real equity.
- Factor in deferred maintenance for roads, utilities, and common areas — these costs can eat your first year of returns.
- Market lot rent comparison is your best tool — if the park is $100/month below market, you have a clear path to value creation.