Hillcrest Villas MHP
Duanesburg, NY
Asking price
$3,500,000
Sites
—
Cap rate
7.70%
Price / site
—
About this property
The Esterson MHC Team is pleased to present Hillcrest Villas MHP, located in Duanesburg, NY (Albany-Schenectady-Troy MSA), a cash flowing, value-add investment consisting of 73 total sites with immediate upside through infill, rent growth, and operational improvements. Located approximately 20 miles west of Schenectady along the Western Turnpike (US Route 20), Duanesburg 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 the fastest-growing county in the Capital Region at 1.2% annual growth, driven by strong domestic in-migration and new housing demand. This offering consists of 73 total sites, including 58 tenant-owned homes (TOH) and 2 occupied apartments, 1 vacant apartment and 12 vacant mobile home lots, presenting a strong infill and stabilization opportunity. The average MH lot rent is approximately $519/month, with projected market lot rents around $650/month, providing natural room for rent growth. The 2 occupied apartments generate additional income at an average of $1,143/month, and the 1 vacant apartment has a projected rent of $1,300/month. Hillcrest Villas is serviced by private well water (metered, billed back to tenants) and private septic (landlord pays, included in rent). Trash is curbside and tenant-paid via direct billing. Electric, gas/propane, and cable are all tenant-paid direct bill. Roads are private and paved. The community sits on 70.21 acres and is NOT in a Flood Zone and NOT in an Opportunity Zone. Landlord mows common areas and is responsible for snow plowing. Hillcrest Villas MHP is being offered at a purchase price of $3,500,000, reflecting a 7.7% cap rate on in-place operations (P&L 1). The mark-to market 10.1% cap rate, reflecting full occupancy at market rents, translates to a potential upside value of approximately $4,700,000 at a 7.5% exit cap. Investors may achieve meaningful upside by infilling 12 vacant MH lots, leasing the vacant apartment and gradually increasing rents toward market levels. 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 | $3,500,000 |
|---|---|
| Cap rate | 7.70% |
| Address | 3868 Western Turnpike |
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 13, 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.
- Oct 16, 2026Status changedactive → stale (source absence)
- Sep 6, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
