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3041 Meyer Rd 20 Unit Mobile Home Park $1,150,000 ($57,500/Unit) 8.39% Cap Rate Festus, MO 63028
Investment Highlights
- Multi unit single family (7 manufactured and 1 site built) plus 4 rented pads and 8 more pads to place homes on.
- Convenient location near Highway 67 with strong tenant demand and growth potential.
- Sprawling 12-acre manufactured housing community with multiple income streams.
- Recent renovations include new kitchens with granite, updated baths, HVAC, appliances, and more.
Executive Summary
This 12-acre manufactured housing community presents a rare investment opportunity with immediate income and future growth potential. The property features six fully rehabbed manufactured homes—four single-wide and two double-wide units—along with one site-built home and four rented homesites. Each renovated home has been meticulously updated down to the studs, including new decking, drywall, kitchens with granite countertops, modern baths, HVAC systems, water heaters, appliances, windows, and most with new siding and roofs. These upgrades ensure long-term durability and reduced maintenance costs for the new owner.
In addition to the existing income-producing units, the property includes eight vacant lots equipped with water, sewer, and electric connections, two of which have updated pads for 16x80 homes. This infrastructure provides significant upside for expansion, whether by adding new homes or leasing the pads for additional homesites. Current rental income includes homesites at $375 per month and homes ranging from $975 to $1,850 per month, creating a strong revenue base with room for growth. Conveniently located near Highway 67, this property offers accessibility and appeal for tenants while delivering a scalable investment for buyers seeking stable cash flow and long-term appreciation.
In addition to the existing income-producing units, the property includes eight vacant lots equipped with water, sewer, and electric connections, two of which have updated pads for 16x80 homes. This infrastructure provides significant upside for expansion, whether by adding new homes or leasing the pads for additional homesites. Current rental income includes homesites at $375 per month and homes ranging from $975 to $1,850 per month, creating a strong revenue base with room for growth. Conveniently located near Highway 67, this property offers accessibility and appeal for tenants while delivering a scalable investment for buyers seeking stable cash flow and long-term appreciation.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$112,908
|
$12.55
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$112,908
|
$12.55
|
| Taxes |
$4,576
|
$0.51
|
| Operating Expenses |
$12,100
|
$1.34
|
| Total Expenses |
$16,676
|
$1.85
|
| Net Operating Income |
$96,232
|
$10.69
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $112,908 |
| Annual Per SF | $12.55 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $112,908 |
| Annual Per SF | $12.55 |
| Taxes | |
|---|---|
| Annual | $4,576 |
| Annual Per SF | $0.51 |
| Operating Expenses | |
|---|---|
| Annual | $12,100 |
| Annual Per SF | $1.34 |
| Total Expenses | |
|---|---|
| Annual | $16,676 |
| Annual Per SF | $1.85 |
| Net Operating Income | |
|---|---|
| Annual | $96,232 |
| Annual Per SF | $10.69 |
Property Facts
| Price | $1,150,000 | Property Subtype | Manufactured Housing/Mobile Home |
| Price Per Unit | $57,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 2.58 AC |
| Cap Rate | 8.39% | Building Size | 9,000 SF |
| Gross Rent Multiplier | 11.95 | No. Stories | 1 |
| No. Units | 20 | Year Built/Renovated | 1985/2019 |
| Property Type | Multifamily | ||
| Zoning | MHP | ||
| Price | $1,150,000 |
| Price Per Unit | $57,500 |
| Sale Type | Investment |
| Cap Rate | 8.39% |
| Gross Rent Multiplier | 11.95 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | B |
| Lot Size | 2.58 AC |
| Building Size | 9,000 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1985/2019 |
| Zoning | MHP |
1 1
Not walkable
10/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 18-5.0-22.0-0-000-009 | Total Assessment | $44,200 |
| Land Assessment | $7,100 | Annual Taxes | $4,576 ($0.51/SF) |
| Improvements Assessment | $37,100 | Tax Year | 2025 |
Property Taxes
Parcel Number
18-5.0-22.0-0-000-009
Land Assessment
$7,100
Improvements Assessment
$37,100
Total Assessment
$44,200
Annual Taxes
$4,576 ($0.51/SF)
Tax Year
2025
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3041 Meyer Rd
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