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Property Description
Whispering Meadows Mobile Home Park is a well established investment property, consisting of 23 double wide mobile homes in place, plus a 3.33 acre tract improved with a commercial building and a huge barn. Development offers wide paved streets with each home on individual sites with designated Tax ID Parcel numbers. In addition to the 24 individual homes, plus the commercial building and barn, there are three vacant lots which could increase the number of rental units to 27, plus room for possibly six more sites to be developed within the 3.33 acre portion of the property. The 3.33 acre site includes a commercial building, currently rented, and a 30' X 105' barn for either storage or additional potential income. Existing rental income totals $16,830 per month. OWNER IS OFFERING FINANCING BASED ON THE FOLLOWING TERMS: $100,000 down, balance of $1,150,000 to be financed by the owner at 6% interest for 15 years. Monthly payment will be $10,126.28 per month. When taking the monthly income of $16,830, less the monthly taxes of $647.32, less insurance costs of approximately $1,100.00 per month, the net monthly income yield is $15,082.68. If owner financed, with a monthly payment of $9,704.35, after deducting the monthly cost of taxes and insurance, the net monthly income produced by this property would be $4,956.40 per month, or $54,676.80 per year. Not only is the seller offering very attractive financing terms, the property is priced slightly under the current County Tax Appraisal for the entire development. Owner is selling due to age and health issues. THIS IS A FANTASTIC OPPORTUNITY FOR THE SMART INVESTOR! See attached addendums for itemized income sheet, plus parcel and tax information for each individual property within the development. All info. taken from Tax Records. Buyer/Buyer's Agent to verify all.

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