How a park gets valued
Price follows income, and income follows the assets that produce it. This tool takes a year of lot rent, pulls out an expense allowance, and divides the rest by a cap rate. First write down what you're buying: land, homes, infrastructure, and the rights that come with them. Then income and value describe the same property.
Keep lot income and home income apart
Feed this calculator collected lot rent and the operating costs that go with it. Park-owned homes get their own column: home rent out, home expenses out. A mixed operation takes a more detailed split.
Watch for double-counting. If the homes carry their own value on one line, don't capitalize that same income again on another. And ignore anyone who says every home drops to one standard wholesale discount; that rule doesn't exist.
Pick a cap rate you can back up
At an illustrative 7.5% rate, $120,000 of annual NOI implies $1.6 million. Nudge the rate and the value moves fast, so pull it from closed sales that match on income definition, ownership interest, utilities, and condition. The half-point range and the sensitivity table show what different rates do to the number, not what today's market is doing.
Ground a state-specific answer in local facts
If the park sits in North Dakota, South Dakota, Nebraska, Kansas, Missouri, Minnesota, or anywhere else, swap the inputs for evidence from that location: collections, taxes under your ownership, insurance quotes, permits, private utilities, and the rules in force now. A state name won't hand you a cap rate or tell you what rights residents have. Start with the regulation research guide and the property checklist.
Count sites the same way every time
The per-site figure uses the count you type in, so hold that denominator steady when you compare parks. Permitted, usable, and occupied sites answer three different questions. Walk the vacant sites and price the work they need before you credit them with income, then take the deal to the park operating calculator to test financing and cash at closing. What you get here is a well-supported estimate, not an appraisal or a broker's opinion.
Get the lot rent and the cap rate honest, and you'll know where every dollar of your number came from.