Plattsburgh Estates MHC
Morrisonville, NY
Asking price
$995,000
Sites
22
Cap rate
10.70%
Price / site
$45,227
About this property
Description Plattsburgh Estates MHC is a 20-pad mobile home park with an additional duplex house on 6.80 acres in Morrisonville, New York, approximately 2 miles from Plattsburgh. Per assessor, the park is approximately 49 years old (1976). It is zoned as a mobile home park and is not located in a flood zone. The current owner has owned the park for four years. The park currently has a maintenance man. All 20 pads (each 14' x 70') and the duplex are currently occupied. There are no vacant pads, no vacant trailers, and no trailers that need to be removed. There are no trailers held for back taxes. Of the homes in the park, 1 is park-owned and does not have a title; it will be conveyed via bill of sale. The remaining 19 are tenant-owned homes, with an average pad rental rate of $350. The current owners have not raised pad rents during their four-year tenure. The park is served by city water and private septic. Since current ownership, the leachfield to the septic has been rebuilt. Underground pipes in the park are a combination of PVC, cast iron, and Orangeburg. Each homesite has a 100-amp electrical pedestal, and tenants are billed directly for electric by the supplier. There are no gas meters and no water meters, and no utilities are back-billed. Tenants pay for their own garbage. The roads are paved and in good condition, and the park maintains the roads. Tenants mow their own pads, while the park mows common areas. Snow removal is performed as needed by a third-party vendor. Off-street parking is available. The community utilizes leases, and tenants pay rent by depositing at a local bank. Only one tenant is currently behind in rent at the moment. The park currently has both a manager and a maintenance man in place. The current loan is not assumable. Owner financing is not available. Stack offers are not available. During the current ownership period, the leachfield to the septic system was rebuilt. When asked what they would do if they continued to own the property, the owners stated they would increase rents and buy some trailers from tenants to rent as POHs (park-owned homes) for additional income. Jennifer Stein Real Estate, Inc is the Listing Broker for this listing and is licensed in the State of NY under LIC#10311209861. Jonathan Fisher is an out-of-state cooperating broker who is licensed in the State of Illinois under Lic#471.020503.
All details
| Asking price | $995,000 |
|---|---|
| Sites | 22 |
| Price per site | $45,227 |
| Cap rate | 10.70% |
| Year built | 1976 |
| Address | 53 Banker Road |
| First seen | Sep 6, 2026 |
| Last verified | Sep 7, 2026 |
