ParkMarket

Investment Calculator

Run the numbers on a park

Estimate income, NOI, cap rate, debt service and cash-on-cash return for a manufactured housing community or RV park. Results update as you type.

Your assumptions

Property & income

Utility bill-backs, RV nightly, laundry, home rentals

Operating expenses
Enter expenses as

Share of effective gross income

Financing

Set down payment to 100% to model an all-cash purchase.

0 = interest-only

Net operating income

$313,224/ yr

Annual cash flow after debt service: $63,872

Cap rate

7.46%

NOI ÷ purchase price

Cash-on-cash

5.07%

Cash flow ÷ down payment

DSCR

1.26x

Comfortable coverage

Break-even occupancy

70.5%

Covers expenses and debt

Income & expenses (annual)

Gross potential income
$558,000
Less vacancy
−$52,800
Effective gross income
$505,200
Operating expenses (38%)
−$191,976
Net operating income
$313,224
Annual debt service
−$249,352
Cash flow
$63,872

Deal & loan

Price per site
$52,500
Down payment (cash invested)
$1,260,000
Loan amount
$2,940,000
Monthly loan payment
$20,779

An estimate, not advice. This calculator uses only the figures you enter and simplified assumptions (level rent, a fixed expense ratio, a fully amortizing loan). It is not an appraisal or a lending, tax or investment recommendation. Verify every figure with the seller's records and your own advisors.

How the numbers work

Gross potential income
Lot rent if every site were occupied for a full year, plus other income you entered.
Effective gross income (EGI)
Gross potential income minus rent lost to vacant sites at your occupancy.
Net operating income (NOI)
EGI minus operating expenses. Excludes loan payments, depreciation and capital improvements.
Cap rate
NOI divided by purchase price. A quick way to compare pricing across properties, before financing.
Debt service coverage (DSCR)
NOI divided by annual loan payments. Lenders use it to size loans; below 1.00x the property does not cover its debt.
Cash-on-cash return
Annual cash flow after debt service divided by your down payment. Closing costs and reserves are not included here, so your true cash invested will be higher.
Break-even occupancy
The occupancy at which income just covers operating expenses and loan payments, holding rent and other income constant.

Tips for better inputs

  • Use the trailing twelve months of actual collections, not pro forma rents, and check the rent roll against bank deposits.
  • Rebuild expenses yourself. Seller statements sometimes leave out management, payroll, repairs or reserves, which makes NOI look higher than a new owner will see.
  • Property taxes may be reassessed after a sale in many jurisdictions. Ask a local professional how a new purchase price could change the tax bill.
  • Model a few scenarios: today's occupancy, a realistic stabilized occupancy, and a downside case.

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