Live Oak Communities
New Braunfels, TX
Asking price
$34,810,000
Sites
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Cap rate
—
Price / site
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About this property
The portfolio is located at 1021 Ashberry Avenue, New Braunfels, Texas, in the high-growth I-35 corridor. It comprises 65 acres of residential estates with three distinct revenue streams: manufactured home lots, tiny home rentals, and storage garages. The asset includes 202 manufactured home lots, 45 Beau Village tiny home rentals, 84 Secret Squirrel storage garages, and one single-family home.3 Investment and Operational Highlights The property operates as a turn-key cash-flow asset with maintained long-term stability and an on-site manager apartment. Immediate Net Operating Income (NOI) upside exists through a structured rent-rationalization program because current lot rents sit below regional benchmarks. A Rent-to-Own program covers 17 park-owned homes, encouraging multi-year occupancy and shifting maintenance duties to tenants. Financial Summary by Segment Live Oak Mobile Park Homes: Generates $1,215,396.02 in gross income with an operating expense ratio of 23.3%, yielding an NOI of $933,335.95 at a 94.9% occupancy rate. Park-Owned Park Models (Beau Village Cottages): Generates $488,472.04 in gross income with a 36.9% expense ratio, producing an NOI of $306,963.78 at a 91.1% occupancy rate. Secret Squirrel Garages: Achieves 100% occupancy to generate $92,398.02 in gross income, operating at a 22.1% expense ratio for an NOI of $71,968.51.8 Portfolio Valuation Summary Total combined Trailing-12 Net Operating Income across all three segments is calculated at $1,312,268.23. Capitalization rates applied per segment are 3.79% for mobile homes, 5.00% for park models, and 6.00% for storage units. Additional underlying asset values are detailed as $650,000.00 for park-owned homes, $2,044,288.11 for 13 acres of land, and $150,000.00 for the Grape Street house. Market and Demographic Context The surrounding 5-mile population is projected to grow from 107,778 in 2026 to 125,963 by 2031, reflecting a 3.17% growth rate. Median household income within a 1-mile radius stands at $77,905, while the 3-mile and 5-mile metrics exceed $101,000. Top regional employers fueling economic stability include Comal ISD, Schlitterbahn Water Park, and TaskUs. https://drive.google.com/file/d/1fHBTNEg4-Htzu1hteZ3xuojYbuD__3Jk/view?usp=sharing
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 | $34,810,000 |
|---|---|
| Address | 1021 Ashberry Avenue |
| First seen by UnitListed | Sep 17, 2026 |
| Source page last checked | Nov 2, 2026 |
| Source last changed | Sep 17, 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 17, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Sep 17, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
