Genesee Forest Estates
Flint, MI
Asking price
$1,800,000
Sites
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Cap rate
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Price / site
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About this property
Description ***Updated seller financing terms as of 08-14-2026*** $1,800,000 list price 30% down 5% interest 3-year balloon (with possible one-year extension) Seller to remain in 1st position A credit check and personal guarantee will be required for any seller financing. He will not consider Morby Stack offers. Please reach out with any questions or to discuss terms. Genesee Forest Estates is a value-add mobile home park located in Flint, MI. The park currently has 252 lots (251 pads + SFR that currently is the park office). This park offers tremendous value-add opportunities with the coveted trifecta of park infill, increasing market rental rates, and future home sales. Genesee Forest Estates has 251 approved MH lots. Of the 251 pads there are currently 37 pads rented, 27 vacant POH, and 187 vacant pads. The vast majority of the 187 vacant pads are able to accommodate new trailers with little to no deferred maintenance on those pads. The current pad rental rate is approximately $440/month. Market rent in this area is around the $500-600/month range, with some neighboring communities capturing over $630/month. The ability to get to $500/month in pad rental rate after stabilization should be easily achievable. Genesee Forest Estates is on PUBLIC WATER & PUBLIC SEWER! The current owners recently introduced water meters to back-bill tenants on water usage. These meters will make a tremendous improvement on the overall NOI of the property. The electricity for the park is billed to one common meter. The park is currently billing each electricity via RUBS. The park is also charging each pad $20/month for garbage, and $3/month for site tax (this is how Genesee County handles mobile homes instead of individual property taxes like many jurisdictions). The water, sewer, and electric infrastructure in the park are all considered to be in good working condition. The roads are in "average" condition. The current owner recently repaved a small portion of the property. The owner has spent hundreds of thousands of dollars on the park by removing abandoned trailers, removing debris, and general capex contributions. As I mentioned earlier, there are currently 27 vacant POH awaiting renovations which could increase park revenue in excess of $162,000/year once they are online. Within the past several years the park has had the following capex items completed: $82,000 repaving of roads in front portion of the property, $207,500 to remove 83 trailers, $8,000 for water leak detection, $30,000 to repair water leaks, $40,000 electrical fixes/upgrades, & $55,000 in new skirting & renovations of park owned homes. As of April 2025, the former Buick City site in Flint, Michigan, is undergoing a significant transformation into the Flint Commerce Center, a large-scale industrial redevelopment led by Ashley Capital. Building 1: The first phase of the project, a 330,000-square-foot facility, has been completed and is fully leased. Tenants include Victory Packaging and Bunzl Distribution, collectively employing over 100 individuals. Expansion: The entire redevelopment spans approximately 350 acres, with plans to construct up to 10 buildings totaling 3.5 million sq. ft. The project aims to create around 3,000 permanent jobs over several years, with new buildings added based on market demand. NanoGraf Facility: NanoGraf, a battery anode manufacturing company, has announced plans to establish a facility at the site. Supported by a $60 million U.S. Department of Energy grant and additional state incentives, the project is expected to invest $175 million and create over 150 permanent jobs. Investment and Funding: The redevelopment is backed by a combination of public and private funding, including contributions from the City of Flint, Genesee County, the Michigan Strategic Fund, and the Charles Stewart Mott Foundation. The total investment is projected to reach approximately $300 million. Tax Incentives: A Tax Increment Financing (TIF) model is being utilized, all
All details
| Asking price | $1,800,000 |
|---|---|
| Address | 1806 East Webster Road |
| First seen | Sep 6, 2026 |
| Last verified | Sep 7, 2026 |
