Plattsburgh Estates MHC
Morrisonville, NY
Asking price
$949,000
Sites
20
Cap rate
10.70%
Price / site
$47,450
About this property
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
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 | $949,000 |
|---|---|
| Sites | 20 |
| Price per site | $47,450 |
| Cap rate | 10.70% |
| Year built | 1976 |
| Address | 53 Banker Road |
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 2026 |
| Source last changed | Oct 11, 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.
- Oct 11, 2026Price reduced$995,000 → $949,000
- Oct 11, 2026Price reduced
- Sep 6, 2026First seen by UnitListed
