Grant MHP
Crittenden, KY
Asking price
$4,000,000
Sites
—
Cap rate
—
Price / site
—
About this property
The Esterson MHC Team is pleased to present Grant MHP, a stabilized, 56-unit, 98% occupied manufactured housing community with upside and all tenant-paid public utilities, located in Dry Ridge, KY within the Cincinnati, OH-KY-IN MSA. Only a 30-minute drive from Cincinnati/Northern Kentucky International Airport and 40 minutes from downtown Cincinnati, Grant MHP sits directly off I-75 in Grant County. Grant County is part of the Cincinnati, OH-KY-IN MSA, which has approximately 2,312,858 residents as of the July 2025 Census and has added roughly 61,000 people since 2020. Grant County has approximately 26,630 residents with an annual growth rate of 1.7% and median household income of $69,178. The county employment base is anchored by manufacturing, transportation and warehousing, retail trade, and healthcare, with the I-75 corridor supporting continued logistics and distribution growth between the Cincinnati and Lexington markets. The community consists of 56 total manufactured housing lots with 45 tenant-owned homes (TOH), 10 rent-to-own homes (RTO), and 1 vacant park-owned home (POH). The average lot rental rate per month is $450 across all occupied sites. The average RTO payment above lot rent is $437 and all 10 RTO units are 2024–2025 Clayton homes with maturities running from 2039 through 2040. The total remaining contract balances are approximately $703,104. Grant MHP is serviced by public water and sewer that are billed directly to tenants, as well as curbside trash bins that are billed directly to tenants. The only utility cost carried by the park is street lights, greatly reducing the expense load, operational burden, and risk associated with private utilities or master-metered public utilities. The landlord mows common areas, which is currently done by the onsite manager. Interior roads are private and the larger of the two was repaved in July 2025. The property is NOT in a flood zone and is NOT in an opportunity zone. This park is being offered at a purchase price of $4,000,000, which reflects a 6.8% lot rent only cap rate and a 7.1% global cap rate on T1 revenue and T12 expense. The park qualifies for Fannie/Freddie non-recourse financing immediately. 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 | $4,000,000 |
|---|---|
| Address | 3180 Angela Drive |
| First seen by UnitListed | Oct 18, 2026 |
| Source page last checked | Oct 24, 2026 |
| Source last changed | Oct 18, 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 Oct 18, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Oct 18, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
