Log In/Sign Up
Your email has been sent.
2902 Clay St 14 Unit Mobile Home Park $530,000 ($37,857/Unit) 12.03% Cap Rate De Soto, MO 63020
Investment Highlights
- All-age community on 10.24 peaceful acres in De Soto, Missouri, approximately 45 miles south of St. Louis
- Well-maintained infrastructure served by a private well system and compliant three-cell wastewater lagoon tested quarterly
- Significant value-add opportunities through rent increases, home sales to tenants, unit renovations, storage rentals, and expansion
- Strong income profile with 14 revenue-producing units including 4 cottages, 8 park-owned homes, and 2 pad rentals
- Multiple outbuildings including a large 40x30 storage barn and three storage sheds offering additional income potential
- High occupancy, strong tenant retention, short unit-turn timelines, and a current 12.02 percent cap rate based on stated NOI
Executive Summary
Caesar's Country Acres is an all-age community located in De Soto, Missouri, approximately 45 miles south of St. Louis. The property includes two tax parcels situated on 10.24 peaceful acres, and features 14 income producing units: 4 cottages, 8 park-owned mobile homes, and 2 pad rentals with tenant-owned mobile homes on them. See supplements or photos for details on the beds/baths, rents, and improvements done during the sellers’ ownership. Outbuildings include a 40x30 storage barn (currently unused) with 16x8 garage door, and three storage sheds (two currently unused). Caesars Country Acres is served by a well system and a wastewater stabilization lagoon system, both of which are in good working order. The lagoon, located at the rear of the property, is a septic 3-cell treatment plant that is tested quarterly. Zoning is R-40 (see supplements for full detail). Potential value add plays could include raising lot rents, selling park-owned homes to tenants (on contract or outright) to lower operating costs, improving insurance costs, improving garage to rent as secured storage, renting the unused sheds, updating unrenovated units / raising rent as units turn, and expansion. There is potential for 26 additional pads (check with the county for specific requirements); utilities are already sized for more pads. The park-owned mobile homes are unattached and thus taxed as personal property – a savings for the buyer. Occupancy rates are very high, retention is strong, and unit turns are short. The homes are older but many are newly renovated and in good shape. Current monthly rents total $8920; there is currently one vacancy, a cottage that’s being renovated by a laborer/tenant in lieu of rent. With existing rents and a pro forma $820 for the cottage, the annual operating income is $116,880. Less operating expenses of $53,241, that’s an NOI of $63,739 – a 12.02% cap rate at asking price. De Soto is in Jefferson County, is one of the fastest growing counties in state. The city is known as “Fountain City” because of the numerous artesian wells. Union Pacific Railroad, Wal-Mart and De Soto SD are the largest employers.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $530,000 | Apartment Style | Garden |
| Price Per Unit | $37,857 | Building Class | C |
| Sale Type | Investment | Lot Size | 10.24 AC |
| Cap Rate | 12.03% | Building Size | 1,668 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1940 |
| Property Subtype | Manufactured Housing/Mobile Home | ||
| Zoning | R40 | ||
| Price | $530,000 |
| Price Per Unit | $37,857 |
| Sale Type | Investment |
| Cap Rate | 12.03% |
| Sale Condition | 1031 Exchange |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 10.24 AC |
| Building Size | 1,668 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1940 |
| Zoning | R40 |
Amenities
Site Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | - | - |
| 2+2 | 2 | - | - |
| 1+1 | 1 | - | - |
| 3+2 | 2 | - | - |
| Studios | 2 | - | - |
1 1
Property Taxes
| Parcel Number | 23-8.0-28.0-0-000-019 | Improvements Assessment | $1,300 |
| Land Assessment | $15,700 | Total Assessment | $17,000 |
Property Taxes
Parcel Number
23-8.0-28.0-0-000-019
Land Assessment
$15,700
Improvements Assessment
$1,300
Total Assessment
$17,000
1 of 69
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
2902 Clay St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.