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Mobile Home Park 6029 E 200 N 20 Unit Mobile Home Park $1,027,807 CAD ($51,390 CAD/Unit) 8.84% Cap Rate Monticello, IN 47960
Investment Highlights
- Strong tourism-driven demand from proximity to Indiana Beach, Lake Shafer, and the Twin Lakes recreational corridor
- Stable, high-occupancy asset (95%) supported by both seasonal traffic and year-round workforce housing demand
- Consistent need for affordable housing in a market with limited flexible rental inventory
Executive Summary
Scenic View RV & Mobile Home Community is a stabilized manufactured housing and RV park located on 7.06 acres in Monticello, Indiana, near Lake Shafer, Lake Freeman, and the Indiana Beach corridor. The property includes 20 pads operated under a land-lease model with tenant-owned homes and RV occupants.
The community is approximately 95% occupied and has shown consistent demand, with current performance trending ahead of expectations and projected to outperform 2025. Utilities are included in rent, and the property is serviced by municipal sewer, helping reduce operational complexity and long-term infrastructure risk.
Based on 2024 operations, the property generates approximately $66,238 in net operating income, representing an in-place cap rate of approximately 8.3% at a $750,000 purchase price. Lot rents remain affordable compared to other housing options in the area, supporting stable occupancy and reliable collections, while still allowing room for gradual rent increases over time.
The surrounding area benefits from a mix of tourism, local employment, and year-round housing demand. Proximity to Indiana Beach and the Twin Lakes area drives seasonal traffic, while workforce housing needs help support consistent occupancy throughout the year.
Overall, this is a straightforward, low-maintenance investment offering stable cash flow, strong occupancy, and simple day-to-day operations.
The community is approximately 95% occupied and has shown consistent demand, with current performance trending ahead of expectations and projected to outperform 2025. Utilities are included in rent, and the property is serviced by municipal sewer, helping reduce operational complexity and long-term infrastructure risk.
Based on 2024 operations, the property generates approximately $66,238 in net operating income, representing an in-place cap rate of approximately 8.3% at a $750,000 purchase price. Lot rents remain affordable compared to other housing options in the area, supporting stable occupancy and reliable collections, while still allowing room for gradual rent increases over time.
The surrounding area benefits from a mix of tourism, local employment, and year-round housing demand. Proximity to Indiana Beach and the Twin Lakes area drives seasonal traffic, while workforce housing needs help support consistent occupancy throughout the year.
Overall, this is a straightforward, low-maintenance investment offering stable cash flow, strong occupancy, and simple day-to-day operations.
Financial Summary (Actual - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,027,807 CAD | Apartment Style | Garden |
| Price Per Unit | $51,390 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 7.06 AC |
| Cap Rate | 8.84% | Building Size | 20,000 SF |
| No. Units | 20 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Manufactured Housing/Mobile Home | Year Built | 1980 |
| Zoning | A1 | ||
| Price | $1,027,807 CAD |
| Price Per Unit | $51,390 CAD |
| Sale Type | Investment |
| Cap Rate | 8.84% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 7.06 AC |
| Building Size | 20,000 SF |
| Average Occupancy | 95% |
| No. Stories | 1 |
| Year Built | 1980 |
| Zoning | A1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 91-73-15-000-000.900-020 | Total Assessment | $216,126 CAD (2025) |
| Land Assessment | $77,580 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $138,546 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
91-73-15-000-000.900-020
Land Assessment
$77,580 CAD (2025)
Improvements Assessment
$138,546 CAD (2025)
Total Assessment
$216,126 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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Mobile Home Park | 6029 E 200 N
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