RV Park Underwriting Calculator
Convert RV park site count, average monthly site revenue, 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
84.0
Gross Potential Rent
$1,296,000.00
Effective Rental Revenue
$907,200.00
Total Property Revenue
$1,087,200.00
Operating Expenses
$521,856.00
Stabilized NOI
$565,344.00
NOI per Site
$4,711.20
Indicated Property Value
$7,066,800.00
Per Unit Value and Loan Sizing
Purchase Price per Site
$58,333.33
Indicated Value per Site
$58,890.00
Maximum by DSCR
$4,903,982.77
Maximum by Loan to Value
$4,900,000.00
Maximum Loan
$4,900,000.00
Maximum Loan per Site
$40,833.33
Estimated Equity Including Improvements
$2,600,000.00
Binding Constraint
Loan to value
Annual Debt Service
$434,526.81
Resulting DSCR
1.30x
Loan to Total Cost
65.33%
Total Project Cost
$7,500,000.00
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 RV park financing?
Send your underwriting estimate to CapitalAx for a financing review based on park operations, value, improvements, and requested loan structure.
How RV Park Per Site Underwriting Works
The calculator multiplies total sites by average monthly site revenue to estimate gross potential rent, then applies economic occupancy and adds other park revenue. The operating expense ratio is deducted to estimate stabilized net operating income.
RV 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. Seasonal occupancy, daily and weekly rates, utility income, amenity revenue, payroll, and transient lodging taxes may require more detailed underwriting.
RV Park Underwriting Worked Example
A 120 site RV park averaging $900 in monthly site revenue at 75 percent economic occupancy produces $972,000 of effective site revenue. Adding $180,000 from cabins, storage, laundry, and other recurring sources and applying a 48 percent operating expense ratio produces $599,040 of stabilized NOI, or $4,992 per site before loan sizing.
Choosing RV Park Inputs and Reading the Result
Convert the actual mix of daily, weekly, monthly, and seasonal stays into an average monthly revenue per available site. Use a trailing 12 month occupancy pattern when seasonality is material and include amenity revenue only when supported by operating statements. Read value per site and maximum proceeds in context because cabins, marinas, camp stores, transient taxes, payroll, and utility costs can make one park materially different from another.