5 Park Portfolio - New Bern, NC
New Bern, NC
Asking price
$7,500,000
Sites
—
Cap rate
8.10%
Price / site
—
About this property
The Esterson MHC Team is pleased to present this cash-flowing, stabilized with upside, five-park, 105-unit manufactured housing community portfolio located in New Bern, NC (Craven County. New Bern is the county seat of Craven County and a regional economic hub in Eastern North Carolina. The local economy is anchored by Marine Corps Air Station Cherry Point, Carolina East Medical Center, and Weyerhaeuser, providing a stable employment base. Population growth of approximately 13.8% since 2020 (to ~35,658 residents and sustained in-migration have driven demand for affordable housing. The portfolio is 105 total units, consisting of 55 tenant owned homes (TOH, 33 rented park owned homes (POH, 9 vacant POH, and 8 vacant manufactured housing lots. The average lot rental rate per month is $575 and the average POH rent above lot rent is $649. Current occupancy is approximately 84% (88 of 105 units occupied, with the 9 vacant POH presenting immediate upside opportunity. The parks are all serviced by public water billed directly to tenants. Four of the five parks are serviced by public sewer billed directly to tenants, and Double R MHP is serviced by septic that is paid for by the landlord. Four of the five parks are serviced by curbside trash bins billed directly to tenants, and Shanks MHP is serviced by dumpster paid by the landlord. Landlord mows common areas at all parks. Three of the parks have paved roads and driveways, one park has paved roads with gravel driveways, and one park has gravel roads with gravel driveways. All the roads are privately maintained. Bernwood MHP is NOT in a flood zone. Shanks MHP is in a flood zone. Airport, Cook, and Double R MHP are partially in flood zones, but very few homes are affected. None of the parks are in an opportunity zone. This portfolio is being offered at a purchase price of $7,500,000. All offers must include price, inspection timeline, terms, proof of funds, due diligence requirements, and relevant real estate experience.
All details
Figures are transcribed from the source listing as published. “Source page last checked” is when our crawler last fetched that page — it is not a check of the financials and not confirmation from the broker.
| Asking price | $7,500,000 |
|---|---|
| Cap rate | 8.10% |
| Address | 716 Clermont Road |
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 2026 |
Before you call the broker
8 things are not disclosed on this listing. These are the questions that would close the gap — specific to a park, not a generic list.
Net operating income — not disclosed
What is the trailing twelve-month NOI, and what does it include and exclude?
The single number a lender will size debt against. Ask what is excluded — management fees and reserves are the usual omissions.
What period the financials cover — not disclosed
Are these figures trailing twelve months, last calendar year, or projected?
A projected stabilised NOI and a current operating NOI can differ by a third, and both get called "NOI".
Gross income and operating expenses — not disclosed
Can you share a trailing twelve-month profit and loss, with the expense lines itemised?
NOI alone hides whether income is high or expenses are being under-reported. The split is what you underwrite.
Reason for sale — not disclosed
Why is the owner selling, and how long have they held it?
Never published on a listing, always worth knowing. Retirement and a looming capital bill are very different situations.
Site count and hookup mix — not disclosed
How many sites are there, and how many are full-hookup, partial or tent?
Full-hookup sites earn a multiple of what a tent site does. The count alone does not tell you the income.
Operating season and seasonal mix — not disclosed
Is this year-round or seasonal, and what is the split between seasonal, monthly and transient guests?
A seasonal park with a five-month window is a different business from a year-round one at the same annual revenue.
Utility infrastructure — not disclosed
Are water, sewer and electric municipal or private, and what condition is the infrastructure in?
A private septic or well at end of life is a capital item that can exceed a year of NOI, and it will not appear in the expenses.
Permits and non-conforming use — not disclosed
Is the current site count permitted, and is any of it legal non-conforming?
A park operating more sites than it is permitted for cannot be financed at the income it shows.
Asking price — disclosed
Currency of the asking price — disclosed
Whether the land is included — disclosed
What has changed
Every date below is when we observed a change, not when it happened. We first saw this listing on Sep 6, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Sep 6, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
