Verndale MHP
Verndale, MN
Asking price
$525,000
Sites
—
Cap rate
—
Price / site
—
About this property
***PROPERTY UPDATED ON 07-15-2026*** Verndale MHP is an 18-pad mobile home community situated on 8.85 acres in Verndale, MN. The park is believed to have been developed in the early 1970s and has served the community by providing an affordable housing option since that time. The property is zoned for mobile home park use and is not located in a flood zone. The park is being managed directly with an onsite manager, TurboTenant, etc.. An on-site manager/maintenance person receives a $200 monthly rent credit. The park is comprised of two separate parcels, each approximately 4.5 acres. There is currently one trailer that needs to be removed from the premises. Of the 10 occupied pads, all of the homes are TOH or RTO, with rents currently averaging $475 per month. There is also a vacant park-owned home (POH) that need to be renovated. There are currently two abandoned TOH's that can be salvaged/renovated after abandonment transfer is complete. The last rent increase occurred in sping 2026. The park operates on month-to-month lease agreements. Public Water & Sewer! Verndale MHP is serviced by city water and city sewer. The underground pipe material is believed to be a combination of PVC and metal. Residents are direct billed for electricity and gas by the respective utility providers. The park owners have recently added direct water/sewer metering on each lot for seamless water/sewer bill back so they no longer use RUBS. Garbage service is included in the lot and home rent. The road through the park is owned and maintained by the park (with affordable assistance from the city). Tenants are responsible for mowing their individual pads, while the park maintains the common areas. Snow removal is handled by the park as needed (with assistance from the city). Recent Improvements: Since acquiring the property, the current owners have made several improvements to the park, including repairing all potholes, addressing numerous plumbing issues (including the water line from the main at Lot 3), and renovating a park-owned home (POH) to make it rent-ready. Potential Future Improvements: Infill the park on Lots 1–4 and 16. Renovate and lease the vacant homes on Lots 5, 6, and 7. MR. LANDMAN, LLC is a licensed entity in the State of Minnesota under Lic#40783936. Jonathan Fisher is a licensed broker in the State of Minnesota under Lic#40783935.
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 | $525,000 |
|---|---|
| Address | 102 Northeast Clark Drive |
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 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.
- Sep 6, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
