Mobile Home Park Underwriting Calculator
Convert mobile home park site count, monthly lot rent, and occupancy into revenue, NOI, value per site, maximum loan proceeds, and equity.
Have a live deal to finance?
Use this estimate to prepare, or request a financing review when you are ready to share the property, requested proceeds, and timeline.
Estimate stabilized revenue and NOI from unit count, rent, and occupancy, then size maximum loan proceeds using the lower of DSCR and loan to value constraints.
Property Operations
Acquisition and Value
Loan Assumptions
Occupied Sites
95.0
Gross Potential Rent
$660,000.00
Effective Rental Revenue
$627,000.00
Total Property Revenue
$651,000.00
Operating Expenses
$227,850.00
Stabilized NOI
$423,150.00
NOI per Site
$4,231.50
Indicated Property Value
$6,510,000.00
Per Unit Value and Loan Sizing
Purchase Price per Site
$65,000.00
Indicated Value per Site
$65,100.00
Maximum by DSCR
$3,670,544.50
Maximum by Loan to Value
$4,550,000.00
Maximum Loan
$3,670,544.50
Maximum Loan per Site
$36,705.44
Estimated Equity Including Improvements
$3,129,455.50
Binding Constraint
DSCR
Annual Debt Service
$325,500.00
Resulting DSCR
1.30x
Loan to Total Cost
53.98%
Total Project Cost
$6,800,000.00
This is a stabilized planning estimate. Lenders may adjust occupancy, rents, concessions, management fees, replacement reserves, utilities, taxes, insurance, payroll, repairs, and other operating expenses. The capitalization rate estimate does not replace an appraisal.
Ready to review mobile home park financing?
Send your underwriting estimate to CapitalAx for a financing review based on park operations, value, improvements, and requested loan structure.
How Mobile Home Park Per Site Underwriting Works
The calculator multiplies total sites by average monthly lot rent to estimate gross potential rent, then applies economic occupancy and adds other property revenue. The operating expense ratio is deducted to estimate stabilized net operating income.
Mobile Home Park Value and Loan Sizing
Indicated value is calculated from stabilized NOI and the selected capitalization rate. Maximum loan proceeds use the lower of the DSCR limit and loan to value limit. Per site results support comparisons with sales and appraisals, but owned homes, vacant sites, utility systems, roads, and deferred maintenance may require separate adjustments.
Mobile Home Park Underwriting Worked Example
An 80 site park averaging $650 in monthly lot rent at 95 percent economic occupancy produces $592,800 of effective lot rent. Adding $24,000 of annual other revenue and applying a 40 percent operating expense ratio produces $370,080 of stabilized NOI, or $4,626 per site before loan sizing.
Choosing Park Inputs and Reading the Result
Enter lot rent separately from income earned on park owned homes, and use economic occupancy that reflects nonpaying and vacant sites. Include utility reimbursements and other revenue only when collections are documented. Review the result alongside utility ownership, road condition, infill costs, tenant owned versus park owned homes, and any deferred maintenance that can affect value and lender proceeds.