Off-Market 50-Pad MHP Under Contract - Looking for a partner

May '25 • Deals

Afternoon Group,

My name is Terrell Istre— I just locked up my first MHP contract. A 50-pad mobile home park in Mississippi, where I’m looking to bring on a partner to help capitalize on this solid opportunity.

This one checks all the right boxes:

Strong location
Mostly tenant-owned homes
Attractive entry price and solid returns
Off-market

There are a few other groups circling, so I’d like to move strategically. I’d love to discuss partnering with you if it’s a fit. Let’s connect when you’re available.

LOI Accepted: $1,275,000

Property Type: All-Age Family Mobile Home

Park Size: 6 Acres | Total Pads: 50 Breakdown: 43 MH Spaces | 7 RV Spaces

Ownership: 2 Park-Owned Homes | 48 Tenant-Owned On-Site

Office: Yes – not included in pad count (large enough to convert to an apartment)

Current Numbers (High Level View)

GSR: $152,400 (projected $180,000)

Exp: $45,720

NOI: $106,680

Investment Highlights: Offers stable income with value-add potential. It's connected to city water and sewer, directly metered to tenants—keeping operations lean. Lot rent is just $225/month, well below market with room to increase.

The park’s in solid shape overall, with opportunities to boost value through road repairs, updated signage, and lease enforcement. Minimal landscaping and standard lot sizes help keep maintenance low.

Located in a growing submarket with strong fundamentals, this is a solid play for investors focused on reliable cash flow and long-term upside.

If this looks like a deal you'd be open to partnering on, let me know a good time for a quick call to explore in more details.

Best regards,

Terrell

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