Like most industry the Seller usually wants too much and the purchaser wants to pay too little with a mobile home park. Certain buyers may have different motivations for choosing a certain park (1031 money, ability attain better financing, conversions to other uses, and location to where they live). In this book we will only look only at the value of a mobile home park for the typical buyer who continues to operate it as a mobile home park.
Anyone that has seen an appraisal on a house or most types of real estate can have heard mention on the 3 approaches to determining the associated with that real holdings. They are the Cost, Sales, and Income Approach.
Unless you are coming up without the pain . value of a product new mobile home park or a single is predominately vacant, I do not see any reason to utilize the cost come up on. It is not likely how the new mobile home park will be built nearby exactly what it would cost to build a new park does genuinely take into account the amount of time, effort, and money it takes to fill that park up with occupied and paying home owners.
As far when your Sales or Market Comparison approach to value, this is also highly suspect. Need to based on comparing the sale on the subject property together with other recent sales and adjusting for differences that you might not know pertaining to. Problems with this approach include varying expenses, rents, and management. Whether you are an investor or appraiser I would likely use this approach as potential information and not draw any conclusions from that.
Lago Vista RV Park
2871 Hwy 72 W, Three Rivers, TX 78071
(361) 436-0845