Contact Information
Jason Bergan
License: S65228000
Mobile Home Park Details
- Price: $700,000
- Purchase Method: Cash, New Loan
- Cap Rate: 11.8% (Actual)
- Listing ID: 6936903
- Posted On: Jul 8, 2025
- Updated On: Jul 8, 2025
Description
Calmar MHC is an all age community served by public utilities, all of which are directly billed to the tenants. The property currently has 5 tenant owned homes, 5 rent to own contracts, and 5 park owned homes. Lot rents are slightly below market at an average of $275 per month. Park owned homes rent for an average of $415 above lot rent, and rent to own homes average $390 above lot rent.
This offers new ownership the ability to raise lot rents over time, while also enjoying the additional income from park owned homes. New ownership could also sell the park owned homes on rent to own contracts to lower operating costs while still benefiting from the additional income.
Contact Broker for OM and additional details.
Location
Calmar, IA is located in Winneshiek county and is home to Northeast Iowa Community College. The city has a resident population of 1,125 but is located within 15 minutes of Decorah, IA (7,600 residents) and is within 20-30 minutes of Cresco, IA (3900 residents), West Union, IA(2,500 residents), and Waukon, IA (3800 residents) all of which are large employment centers in the area.
With average home prices in Decorah currently at $350,000 the subject property offers affordable housing for residents while still allowing easy access to local employment centers and amenities.
Park Information
Number of MH Lots: | 19 |
Total Occupancy: | 79.0 % |
Year Built: | 1987 |
Average MH Lot Rent: | $275 |
Financial Information (Actual)
Gross Income: | $102,030 |
Operating Expense: | $19,571 |
Net Operating Income: | $82,459 |
Expense Ratio: | 19.2 % |
Lot Information
Singlewide Lots: | 19 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 5 |
Average Rent for Park-owned Homes: | $415 |