205 Mill St SE, Mitchellville, IA 50169 - Polk County

25%+ YIELD! Des Moines Mobile Home park CITY UTILITIES submetered

Invest $50,000 as owner financed down payment

Make over $700,000 Net!

Total Price: $387,000

As soon as the earnest money deposit payment is made the link automatically stops working and no one else can buy the property!

14 lot mobile home park

1.31 acre

205 Mill St SE Mitchellville IA 50169

CITY WATER, CITY SEWER Individually metered

14 total lots (9 owner occupied homes/5 empty lots)

Lot rent: $400/month

Monthly income: $3600

Annualized Gross Income: $43,200

Expenses:

Insurance $1500

Property Taxes $2432

Offsite Manager $4,320

Total Expenses: $8,252

Total net = $43,200 $8,252 = $34,948

$387,000 Purchase Price

$50,000 Down Payment

6% interest

Monthly Payment = $1,685/month ($20,220/year)

Balance due in 5 years

$34,948(net) $20,220 (loan payment) = $14,728 net profit

$14,728/$50,000 = 29.45% YIELD!

Very beautiful picturesque city.

Population is increasing.

15 minutes from Des Moines

Demand is extremely high for affordable homes in the area

A lot of opportunity here for the future owner.

In a span of 3 years it is possible to bring the rents up to $550/month and filling up the remaining lots would make total monthly collections: $7700

Which would have a valuation of over $1,000,000!

Text or email for quickest response

PROPERTY INFO:

Address: 205 Mill St SE Mitchellville IA 50169

State: Iowa

County: Polk

Parcel ID (APN): 141/00539-003-000

Legal: LTS 5-6 & 7 & E 5F LT 8 BLK 26 & BEG AT NE COR LT 5 THN SWLY PAR TO N LN OF LTS 5-6 & 7 230F NW 100F NE 230F SE 100F TO POB

Parcel size: 1.31 acres (57,322 Sq. Ft.)

Power: City

Water: City

Sewer: City

Title: Clear title

Conveyance: Grant Deed

Zoning: Mobile Home Park (Residential Income) M2

HOA: None

Taxes: $2,432/year