$50k Down! Mobile Home Park near Des Moines, IA making $3,600 per month
25%+ YIELD! Des Moines Mobile Home park CITY UTILITIES submetered
Invest $50,000 as owner financed down payment
Make over $700,000 Net!
Total Price: $387,000
14 lot mobile home park
1.31 acre
205 Mill St SE Mitchellville IA 50169
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CITY WATER, CITY SEWER Individually metered
14 total lots (9 owner occupied homes/5 empty lots)
Lot rent: $400/month
Monthly income: $3600
Annualized Gross Income: $43,200
Expenses:
Insurance $1500
Property Taxes $2432
Offsite Manager $4,320
Total Expenses: $8,252
Total net = $43,200 $8,252 = $34,948
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$387,000 Purchase Price
$50,000 Down Payment
6% interest
Monthly Payment = $1,685/month ($20,220/year)
Balance due in 5 years
$34,948(net) $20,220 (loan payment) = $14,728 net profit
$14,728/$50,000 = 29.45%...
$14,728/$50,000 = 29.45% YIELD!
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Very beautiful picturesque city.
Population is increasing.
15 minutes from Des Moines
Demand is extremely high for affordable homes in the area
A lot of opportunity here for the future owner.
In a span of 3 years it is possible to bring the rents up to $550/month and filling up the remaining lots would make total monthly collections: $7700
Which would have a valuation of over $1,000,000!
Text/Call or Email for quickest response
949-828-5263
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PROPERTY INFO:
Address: 205 Mill St SE Mitchellville IA 50169
State: Iowa
County: Polk
Parcel ID (APN): 141/00539-003-000
Legal: LTS 5-6 & 7 & E 5F LT 8 BLK 26 & BEG AT NE COR LT 5 THN SWLY PAR TO N LN OF LTS 5-6 & 7 230F NW 100F NE 230F SE 100F TO POB
Parcel size: 1.31 acres (57,322 Sq. Ft.)
Power: City
Water: City
Sewer: City
Title: Clear title
Conveyance: Grant Deed
Zoning: Mobile Home Park (Residential Income) M2
HOA: None
Taxes: $2,432/year
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