The short answer:

What Is Your Mobile Home Park Worth?

The honest answer starts with one question most owners are never asked: who owns the homes? A tenant-owned lot-rent park and a park full of aging rentals can sit on the same street and be worth wildly different money. My model prices that difference the way buyers and lenders do. Answer a few questions below and you will have a real range in about a minute, from a licensed Florida broker, with no obligation attached.

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Running your park snapshot…
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Lot rents · ownership mix · cap rates · your market

How the number is built

A mobile home park is priced on its income, but the income is not all the same quality, and quality is what the cap rate pays for. The model above works the way a serious park buyer does:

  1. Count the lots the state counts. The Department of Health license is the truth about how many lots a park has, and my model is built on the DOH file, not on guesses from the tax roll.
  2. Weigh the ownership mix. Lot rent from tenant-owned homes is the cleanest income in real estate. Rent from aging park-owned homes is an apartment operation with extra steps. The model blends two cap rate bands by your park-owned share, because that is exactly what the market does.
  3. Adjust for what buyers actually price. Market tier, city utilities versus well and septic versus a treatment plant, a 55-plus restriction, park size, vintage. Each one moves the band, none of them moves it as far as the ownership mix.
  4. Check it per lot. Florida parks trade with real per-lot patterns, and older park-owned communities hit a ceiling no story gets them past. If the income answer disagrees with recorded per-lot sales, the model says so instead of flattering you.

The full detail, including what the model deliberately does not do, is on the methodology page.

The lever most owners are sitting on

If your park still owns a lot of its homes, the biggest number on this page is the one you have not created yet. Selling homes to your tenants, often on seller-financed terms, converts messy rental income into clean lot rent, opens agency financing to your eventual buyer once most homes are resident-owned, and moves your cap rate in the right direction. I wrote up exactly how that works in selling mobile homes to tenants and park-owned versus tenant-owned homes.

Questions park owners ask

How is a Florida mobile home park valued?

Income capitalized at the rate your ownership mix supports, adjusted for utilities, tier, age restriction and size, then checked against what Florida parks actually sold for. Who owns the homes matters more than where the park sits.

Why do tenant-owned parks sell for so much more?

Cleaner income, fewer headaches, better financing. Once enough homes are tenant-owned, agency lenders will finance your buyer, and a financeable park has a deeper buyer pool bidding on it. More in Florida park cap rates.

Do utilities really change the price?

Yes. City beats well and septic, and well and septic beats a private plant. Buyers and lenders price the systems they inherit. The details are in well and septic versus city utilities.

Is this an appraisal?

No. Under section 475.612(3), Florida Statutes, a broker's opinion of value may never be called an appraisal. If you need one, I will tell you who I would hire.

What does it cost, and what am I committing to?

Nothing, and nothing. The number is yours to keep whether we ever talk. Some park owners who run it call me years later. That trade is the whole business model.

More from the blog: what is my park worth, the long version, should I sell my park, why parks are hard to finance, and tired of owning a park.

Run your park through the model ↑