312 Prosser Rd 39 Unit Mobile Home Park $1,969,100 CAD ($50,490 CAD/Unit) 10.13% Cap Rate Portville, NY 14770

Portville Estates MHC is a two-park manufactured housing portfolio located in Portville, New York, consisting of a combined 39 pads across approximately 10.43 acres. The portfolio is currently 92% occupied with 36 occupied pads and one vacant park-owned home that ownership anticipates leasing within the next couple of weeks. The two communities—one located on Prosser Road (19 pads, built in 1984) and the other on Portville-Obi Road (20 pads, built in 1998)—are situated roughly four miles apart and operate efficiently under a shared onsite manager and maintenance personnel. Both properties are zoned for mobile home park use (Code 416), are not located within a flood zone, and have been owned and operated by the current ownership for the past four years.
The tenancy mix consists of 28 tenant-owned homes (TOH), seven park-owned homes (POH), and two rent-to-own (RTO) units. The average lot rent for TOH units is approximately $370 per month, while POH units average approximately $700 per month, with rents last increased in November 2025. There are currently no delinquent tenants. The owner does not hold titles to the POH or RTO units, and these homes will be conveyed via bill of sale. The park utilizes annual leases for the park-owned homes, and tenants pay rent via a variety of methods including bank deposit, Cash App, Venmo, and Zelle.
Both parks are serviced by well and septic systems, which are professionally tested to remain in compliance with local and state regulations. Tenants are directly billed for electric, gas, and trash service, with no utility bill-backs required by ownership. Infrastructure consists of underground cast iron and PVC piping. Tenants are responsible for maintaining their individual lots, while ownership maintains common areas and vacant pads. There is no designated off-street parking, though tenants are able to park at their respective pads.
All roads within the communities were repaved approximately three years ago and are considered to be in great condition by ownership. The park is responsible for maintaining the roads. The communities are described as having no significant deferred maintenance, with consistent upkeep in place through the shared onsite manager and maintenance personnel. No trailers are currently held for back taxes, and all vacant pads are capable of accepting homes.
Portville Estates offers a straightforward value-add component through infill of the remaining two vacant pads. Ownership has identified this as the primary opportunity for future growth, with all infrastructure already in place to support additional homes. With stable occupancy, recent rent increases, and minimal operational complexity, the portfolio presents a clear path to incremental revenue growth without the need for significant capital investment.
Located in Portville, New York, the properties benefit from a quiet, rural setting in Western New York with a stable tenant base. The surrounding area provides a steady demand for affordable housing, and the simplicity of operations combined with limited nearby competition supports long-term occupancy stability.
Jennifer Stein Real Estate, Inc is the Listing Broker for this listing and is licensed in the State of NY under LIC# 10311209861. Jonathan Fisher is an out-of-state cooperating broker who is licensed in the State of Illinois under Lic#471.020503.
Location
Portville is a village in Cattaraugus County, New York. It is in the southern part of the town of Portville and southeast of Olean. The village population was 916 at the 2020 census, out of a population of 3,730 in the entire town of Portville.
The median home cost in Portville is $164,900. Home appreciation the last 10 years has been 64.5%. Home Appreciation in Portville is up 14.6%
Renters make up 21.0% of the Portville population.
2.2% of houses and apartments in Portville, are available to rent.
The typical 1-bedroom unit rents for $670/Month.
The typical 2-bedroom unit rents for $840/Month.
The typical 3-bedroom unit rents for $1,080/Month.
The typical 4-bedroom unit rents for $1,200/Month.
The property is located in Cattaraugus County, which is currently experiencing an unemployment rate of approximately 4.5%, reflecting stable employment conditions in the region.
Future job growth over the next ten years is predicted to be 15.6%, which is lower than the US average of 33.5%.
The Median household income of a Portville resident is $61,319 a year. The US average is $69,021 a year.
Portville violent crime is 9.5. (The US average is 22.7)
Portville property crime is 23.3. (The US average is 35.4)
Cattaraugus County (locally known as Catt County) is a county in Western New York, with one side bordering Pennsylvania. As of the United States 2020 census, the population was 77,042. The county seat is Little Valley. The county was created in 1808 and later organized in 1817. The county is part of the Western New York region of the state.
Here are the largest employers in Cattaraugus County, NY:
•Cattaraugus County – approximately 500+ employees countywide (260 in Olean)
•Seneca Nation of Indians – approximately 500+ employees
•Seneca Allegany Casino & Hotel – approximately 500+ employees
•Olean General Hospital – approximately 500+ employees
•Dresser-Rand / Siemens Energy – approximately 300–500 employees
•Alcas / Cutco / Vector Marketing – approximately 600+ employees (local operations)
•Pioneer Central School District – approximately 525 employees
•Cattaraugus-Allegany BOCES – approximately 300–500 employees
•St. Bonaventure University – approximately 900 employees
•Olean City School District – approximately 400–500 employees