Turnkey income-producing investment opportunity offering a 10%+ reported cap rate at the current asking price! Seven manufactured homes on two contiguous parcels totaling approximately 3.025 acres in Bridgeport, with approximately $112,800 in gross potential annual rental income and $99,630 in reported net operating income based on current owner-provided expenses.
The property offers strong existing cash flow with additional upside. Average rent is approximately $1,343 per home per month at full occupancy, with rents currently below estimated market levels. Month-to-month leases provide a new owner flexibility to gradually adjust rents toward market rates and potentially increase NOI.
Each home has its own electric meter and septic system. The homes have been well maintained, creating an attractive turnkey opportunity for an investor seeking immediate income without a significant renovation or repositioning project.
The property consists of approximately 2.630 acres plus an adjoining 0.395-acre parcel and is located outside Bridgeport city limits. The approximately 3-acre site may offer potential for additional manufactured homes or future expansion, subject to buyer verification, applicable regulations, utilities, septic requirements, and approvals.
Manufactured homes are currently considered separate property and are included with the sale. Both parcels and all seven homes are being offered together in one transaction. An excellent opportunity to acquire an established Wise County rental portfolio with strong current income and additional value-add potential.
Property Details
- Cooling
- 1
- Heating
- Central
- Cooling Features
- Central Air
- Stories
- 1
- Acres
- 0.0
- Lot Size (sqft)
- 3.025
- Parking Features
- Driveway
- Parking Type
- Driveway
- Property Type
- Purchase
- Property Subtype Additional
- Business
- Year Built
- 2020
- Foundation
- Pillar Post Pier
- Roof
- Composition, Metal, Mixed
- Sewer Information
- Septic Tank
- Utility Source
- Community Coop
- Utility Features
- Electricity Connected, Septic Available, Water Available
- Subdivision
- HARTFIELD
- County
- Wise
- Region
- Bridgeport
- Days on Market (Cumulative)
- 7
- Taxes Annual
- $6,592
- MLS #
- 21383829
- Property Subtype
- Business
- Parcel Number
- 739963
- MLS #
- 21383829
- Property Condition
- Resale
- Address
- 6311 FM 920
Location
Legal
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Provided By
Listed by Steven Andognini (#0768806)
Listing Office: eXp Realty LLC (#XPTY01)
