Glenville Manor Estates
Glenville, NY
Asking price
$3,900,000
Sites
88
Cap rate
8.00%
Price / site
$44,318
About this property
The Esterson MHC Team is pleased to present Glenville Manor Estates, located in Glenville, NY (Albany-Schenectady-Troy MSA), a cash-flowing, value-add manufactured housing community consisting of 88 total units with immediate upside through infill, rent growth, and operational improvements. Located approximately 15 miles northwest of Albany along Saratoga Road (NY Route 50), Glenville sits within New York’s Capital Region — the state’s third-largest metro area with a population of approximately 913,000. The Albany-Schenectady-Troy MSA benefits from a diversified employment base anchored by state government, healthcare systems (Albany Med, Ellis Medicine), higher education (SUNY Albany, Union College, RPI), and a growing technology sector marketed under the “Tech Valley” brand. Schenectady County is currently one of the fastest-growing counties in the Capital Region at approximately 1.2% annual growth, driven by strong domestic in-migration and new housing demand. Glenville itself is recognized as one of the best places to live in New York, with a median household income of approximately $94,866 — significantly above the national average — and a population of approximately 29,675. This offering consists of 88 total units, including 70 tenant-owned homes (TOH), 1 occupied single-family home ($1,612/month), and 2 garages ($113/month), and 14 vacant mobile home lots and 1 vacant garage, presenting an infill and stabilization opportunity. The average MH lot rent is $512/month, with projected market lot rent of $650/month, providing approximately $138/month in natural rent growth per occupied lot. Several vacant lots require concrete pads and utility connections, while others have partial or full infrastructure in place. Glenville Manor Estates is serviced by public water (landlord pays, included in rent) and septic with 2 sewer pumps (landlord pays, included in rent). Trash is curbside and billed back to tenants at $23/month. Electric, gas/propane, and cable are all tenant-paid via direct bill. The community has solar-powered streetlights, resulting in minimal common area electric expense (approximately $85/month for sewer pumps). Roads are private and paved. The community sits on approximately 9 acres and is NOT in a Flood Zone and NOT in an Opportunity Zone. Landlord mows common areas. Glenville Manor Estates is being offered at a purchase price of $3,900,000, reflecting an 8.0% cap rate on in-place operations (P&L 1). The mark-to market 9.7% cap rate, reflecting full occupancy at market rents, translates to a potential upside value of $5,047,096 at a 7.5% exit cap. Investors may achieve meaningful upside by infilling 14 vacant MH lots at market rents of $650/month, gradually increasing legacy tenants toward market levels and billing back water expenses (new tenants only). All offers should 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 | $3,900,000 |
|---|---|
| Sites | 88 |
| Price per site | $44,318 |
| Cap rate | 8.00% |
| Address | 413 Saratoga Road |
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 2026 |
Before you call the broker
7 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.
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
Site count and hookup mix — 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.
