Log In/Sign Up
Your email has been sent.
32191 Old Rte 3 st 12 Unit Mobile Home Park $299,000 ($24,917/Unit) 13% Cap Rate Carthage, NY 13619
Executive Summary
Fairhaven is an infill value-add manufactured-home community offered at $299,000. The park runs on municipal water and sewer and is anchored by eight paying
tenant-owned homes — the owner retains only the land and infrastructure, keeping recurring capital expense minimal. Two levers carry the asset from a 6.0% in-place
yield to a 13%+ stabilized return: (1) lease up the four vacant park-owned lots — each with utility hookups in place — at $350/mo market lot rent, and (2) mark a
below-market legacy rent (Lot 3 at $100) to market on renewal. The sale also includes the adjacent undeveloped parcel (Tax No. 76.05-1-11.3) at no additional cost,
offering future expansion beyond the existing 12 sites, subject to municipal approvals. The community sits roughly ten minutes from Fort Drum — the largest single-site
employer in New York State — within a majority-renter village where affordable, federally anchored housing demand is durable.
tenant-owned homes — the owner retains only the land and infrastructure, keeping recurring capital expense minimal. Two levers carry the asset from a 6.0% in-place
yield to a 13%+ stabilized return: (1) lease up the four vacant park-owned lots — each with utility hookups in place — at $350/mo market lot rent, and (2) mark a
below-market legacy rent (Lot 3 at $100) to market on renewal. The sale also includes the adjacent undeveloped parcel (Tax No. 76.05-1-11.3) at no additional cost,
offering future expansion beyond the existing 12 sites, subject to municipal approvals. The community sits roughly ten minutes from Fort Drum — the largest single-site
employer in New York State — within a majority-renter village where affordable, federally anchored housing demand is durable.
Property Facts
1 1
Not walkable
10/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 223089-076-005-0001-012-100 | Improvements Assessment | $122,000 |
| Land Assessment | $38,900 | Total Assessment | $160,900 |
Property Taxes
Parcel Number
223089-076-005-0001-012-100
Land Assessment
$38,900
Improvements Assessment
$122,000
Total Assessment
$160,900
1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Affordable Luxury Rentals
32191 Old Rte 3 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.