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32191 Old Rte 3 st 12 Unit Mobile Home Park $412,303 CAD ($34,359 CAD/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 | $168,231 CAD |
| Land Assessment | $53,641 CAD | Total Assessment | $221,871 CAD |
Property Taxes
Parcel Number
223089-076-005-0001-012-100
Land Assessment
$53,641 CAD
Improvements Assessment
$168,231 CAD
Total Assessment
$221,871 CAD
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32191 Old Rte 3 st
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