Posted by Stacy (AZ) on March 23, 2000 at 16:20:28:
The MH is made by Redman Homes, and the model is the Kirkwood. It’s a single-wide, but I don’t know the year. The yard and the home are in perfect shape, and appear brand new, but I know the owners repainted and re-carpeted.
The “subdivision” is on the side of a mountain, in the heart of Phoenix. It was divided into about 500 separate single-wide lots. Some of the owners own 2 or three lots in their parcels, and have double-wides on the lots.
This one is one single-wide lot. The neighborhood contains 50% nice MHs, but there are some pretty old and shappy ones there sprinkled throughout. This one has a great view out of the back yard of Phoenix, but then again, you can see several crappy MHs and junky yards from there, too.
The comps show the highest price paid recently was $72,350 for a nice double-wide and 2 lots. A couple of other double-wides were sold for $63,000, $42,500 (older model). The single-wide next door to this one sold for $50,000, and is a larger but older model.
She was getting $550/month rent. I’d love to buy and hold this beast, but I’m not sure I could buy it low enough for it to cash flow. Seems like a L/O or owner finance candidate.