Property Description

Nine-home mobile home community in growing Maiden, NC: a well-maintained income property with real upside. Seven homes are occupied by long-term tenants, so you get steady cash flow from day one. Homes #1 and #3 are vacant and down to the studs, ready for your finishes and the chance to bring the park to full occupancy.Market rents in the area reach up to $1,200/month per home. At a conservative $950 average rent across all nine homes, the pro forma shows $102,600 in gross annual income, a 19.2% gross yield on the $535,000 list price, and a projected cap rate of about 12.5% assuming 35% operating expenses. (Projections don't include the cost to finish #1 and #3.)Location is what keeps the rental demand strong. Maiden is home to major employers like GKN Driveline, McCreary Modern and Apple's data center, with steady industrial growth across Catawba and Lincoln counties. Tenants can reach Hickory in about 20 minutes via US-321, Lake Norman and Denver in about 20 minutes via NC-16, and Charlotte and CLT airport in roughly 45 minutes.Whether you're growing your portfolio or buying your first income property, this one gives you income in place today and a clear path to more once the two rehabs are done. Buyer to verify all income, expenses and information.

Property Features

Local Schools