Property Details

TITLE:
Tin Cup RV Park 15% Equity Investment on 50% LTV Asset
CONTROL:
Owner
VALUE:
$2,200,000
LOAN:
$1,100,000
EQUITY:
$1,100,000
TYPE:
Mobile Home/RV
HAVE:
Recapitalizing the project to pay off short-term debt and existing cash injection used for the value add repositioning. Depreciation from cost segregation study year 1 = 73%. 10-20% revenue increase last 3 years. Increased revenue 22% in 2024.
WEBSITE URL:
ADDRESS:
1715 Tin Cup Road, Mahomet, Illinois
BENEFITS TO NEW OWNER:
Price Per Share: $50,000 Shares Available: 3 Term: 24-36 Months Return: 15% equity investor slots available
GROSS SCHEDULED INCOME:
$345,000 Actual
VACANCY LOSS:
$30,000
GROSS EFFECTIVE INCOME:
$315,000
EXPENSES:
$132,000
NOI:
$183,000
DEBT SERVICE:
$67,000
CASH FLOW:
$116,000
CAP RATE:
8.32%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$873,000
$5,515
4%
03/09/2025
No
LOAN 2
$228,000
$887
2%
03/09/2025
No
BENEFITS SOUGHT:
- 230k for 16 pads = $14,375 - Rents $590 and $665 per pad - Phasing out 8 at a time to see demand and absorption rate. - 8x$665=$5,320x12 =$63,840 gross - Net Income = $44,688 net - $44,688 / 9 cap = $496,533 value increase
CAN ADD:
- 60% bonus depreciation on tiny homes we are adding the the RV park for Airbnb rentals. - Single Family 50-60% LTV property
REMARKS:
Upon stabilization, we will refinance into assumable fixed-rate permanent financing in Mar 2025. We expect to obtain a loan that will allow a longer 30-year amortization schedule. $150,000 investment for $28,050 depreciation year 1.
COUNSELOR:
Quentin McNew
Tin Cup RV Park
501 N Neil, Suite 2
Champaign, Illinois, 61820
Phone: 2175524062