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In-Fill Ready

The subject property has a total of 28 lots. Each lot has 16'x60-70' concrete slabs poured for each lot along with a designated garage stall next to the lot.
Utilities are connected to each lot for immediate hook-up and home placement.
Currently, there are 5 occupied homes located at the park. Two of those homes are owned by the park and included in the sale. The seller has the title to these homes in his possession.

Park Infrastructure

The park is located along three city maintained roads with one park owned and maintained road running through the middle of the park.
The west half of the park has cast iron sewer lines and fuse box pedestals, while the east half of the park has PVC sewer lines and breaker box pedestals.
The water, sewer, electricity, and natural gas are all directly billed to the tenants. The garbage is paid for by the park owner and is collected in a dumpster located in the center of the park.
There are 26 garage stalls on the property. Each lot (except for lots 14 and 28) have a designated garage stall. All of the garages are double stall buildings with a divider in the middle. Lots 7 and 21 are single stall garages.

Future Income Projections

The future income projections are based on raising lot rents to $250/month and in-filling the community at a rate of 3 homes per year. In the final year (Year 10) the rent is raised to $275/month.
The future income projections are also based on selling the park-owned homes to the tenants for a cash sale at a price of $10,000 each in Year 2.

Future Expense Projections

The future expense projections are based on transportation and set-up fees of $10,000 per home.
The expense projections assume an at-cost sale of the home to the prospective tenant, therefore, it has been left out of the projections.

Abandoned Homes

There are four abandoned homes that will need to be either removed or rehabilitated upon purchase of the property.

Renville, Minnesota Location and Demographics

Renville, MN is located two hours west of Minneapolis and one and a half hours northwest of Mankato.
Renville has had a steady population of about 1,300 people since the mid-2000s.
The most common employment sectors are manufacturing, health care, and skilled trades careers. These three sectors make up about 43% of the employment opportunities in the area.
The largest employers in the area include: Southern MN Beet Sugar Co-op, Revier Cattle Company, Schweiss Doors, Loftness Manufacturing, Warner Manufacturing, and K&M Manufacturing.
The average household income in Renville is about $65,000 per year and the average property value is $100,000.