ManufactureD hoMe coMMunity PRICE: $450,000(INCLUDES 9 PARK OWNED HOMES)

A 12-SITE COMMUNITY

PLEASE DO NOT SPEAK WITH TENANTS OR EMPLOYEES541 Simmons Dr

Cedar Hill, TX 75104

CEDAR HILL

HIGH CAP RATE OPPORTUNITYIN DALLAS COUNTY

SITE INFORMATION

ADDRESS 541 Simmons Dr, Cedar Hill, TX 75104

PRICE $450,000 (includes 9 park owned homes)

COUNTY Dallas

TAX PARCEL IDS 16-00650-005-030-0000; 16-00650-005-031-0000

YEAR BUILT Approx. 1950

SITES 12

COMMUNITY TYPE All Age

LAND SIZE 4.98 acres (2.4 sites/acre)

MH PHYSICAL OCC 100% (12 sites as of Oct ‘20)

MH ECONOMIC OCC 75.0% (9 sites as of Oct ‘20)

INVENTORY HOMES 9 (6 occupied as of Oct ’20)

AVG LOT RENT $550 (includes water/sewer/trash)

LAST RENT INCREASE 2018

ROADS Asphalt

FLOODPLAIN Zone X

ZONING SF-E (Single Family Residential Estate)

UTILITIES

WATER City of Cedar Hill (community pays)

SEWER Private Septic (community pays)

ELECTRICITY Tenant’s Choice (direct billed to tenants)

TRASH Waste Management (community pays)

CABLE DirecTV (direct billed to tenants)

AREA HIGHLIGHTS

• The community is located just 25 minutes south of downtown Dallas, offering residents easy access to a large urban core with a wide variety of shopping, dining, and entertainment options.

• The intersection of US-67 and Belt Line Rd is only 10 minutes from the community, allowing residents to shop at a number of national retail chains including Wal-Mart, Target, Best Buy, Kohl’s, Home Depot, Petco, Kroger, Hobby Lobby, Albertson’s, Office Max, and Home Depot, among others.

• Cedar Hill State Park is only 15 minutes from the community and offers visitors 1,826 acres to explore for camping, birdwatching, hiking, biking, boating, and fishing. With access to the 7,500 acre Joe Pool Lake and over 350 developed campsites, the park is a scenic oasis just a short drive away.

• The region is home to over 41 colleges and universities, which is the most of any metropolitan area in Texas. Some of the largest universities in the area include UT-Arlington, UT-Dallas, University of North Texas, Southern Methodist University, and Texas Christian University.

• The Dallas/Fort Worth International Airport is a 40 minute drive from the community, allowing an out of state owner the ability to easily access the park without spending hours driving from an airport.

INVESTMENT HIGHLIGHTS

• Cedar Hill MHC offers investors the opportunity to purchase a 12 site community on public water located just 25 minutes from downtown Dallas and 45 minutes from downtown Fort Worth.

• Offered at a double digit cap rate, this park allows an investor to achieve high cash-on-cash returns from day one while providing the opportunity to capture significant upside.

• Tremendous value add opportunity for next owner to rent out the remaining 3 park owned homes and add up to $38,400 in annual income. » 2 of the homes on site are brand new TRU homes that will need to be set up before being occupied, while the other is an older home that will need to be rehabbed.

• The park comes with additional vacant land allowing a new owner the possibility to expand the park or to subdivide and sell off the vacant land to lower their basis.

• Excellent location and area demographics with 10 year population growth of nearly 20% and average household income of $94,295 within a 1 mile radius of the community.

A 12-SITE COMMUNITYPRICE: $450,000 ( INCLUDES 9 PARK OWNED HOMES)

PROPERTY DETAILS

INCOME2 Gross Scheduled Rent3 Less: Vacancy

Less: Bad DebtTotal Rental IncomeTotal Other IncomeEffective Gross Income

EXPENSESRepairs and MaintenancePayroll AdministrativeMarketingProfessional Fees

4 UtilitiesElectricityWaterTrash

Total Variable Expenses5 Taxes6 Other Tax

InsuranceManagement FeeTotal Operating Expenses

7 Plus: Capital ReservesTotal ExpensesNet Operating Income

Expense Ratio

10

6,000

0 0

$52,833 $4,403

$15,504 $1,292

77.31%

0 0

0

504 42

8,376 6988,376

180 15

$72,942 $6,079

$113,334 89.52%

35.64%

0

1,200

698

9.48%

1,266 1.00%

$4,171

4,752

600 50

504 42

417

2,260 188

$21,156

500

1,038 0.82%

As-Is Proforma8 Stabilized Proforma9

$87,162

Totals % GSR

38,400 30.33%

5,000

15

250

50

10

0

0

$7,264

68.85%

0 0

% GSR

$68,337

$3,042

Totals

0.00%

$0 $0

$36,507

$126,600

$6,0003,000

600120

$68,337 100.00%

Per Site

$0 $0

0 0

0 0

0

$5,695

0 0.00%

Actual Exp

0

0

0

100

6,800 6.00%

$39,792 $3,316

600 50

$40,392 $3,366

$113,334 $9,445

Buyers Exp Per Site

$6,000 $500

3,000 250

600 50

120

2,260 188

0

0

0 0

0 0

0 0.00%

$0 $0

0

0

Aug '20 T8 Actuals

0 0

$68,337

0

0 0

$20,156 $1,680

0

396

0

1

1800

0

Totals % GSR

$126,600

12,000

$3,092

1,200 100

4,515

4,752 396

$50,055

$87,162Actual Exp Per Site

$500

$37,107

5.18%

42.57%

$1,763

Todd Fletcher303‐260‐4470Todd.Fletcher@ngkf.com

Andrew Shih512‐637‐1219

Andrew.Shih@ngkf.com

1. Actual numbers based on our understanding of financials provided by the client.

2. Proforma Gross Scheduled Rent (“GSR”) = (3 lot rent sites x $550 average lot rent x 12 months) + (9 home rent sites x $989 average lot and home rent x 12 months)

3. As-Is Proforma Vacancy is assumed based on current rent roll as of October 2020.

4. Utilities based on estimates provided by owner.

5. Proforma Taxes = 2020 taxes grown 30%.

6. Includes 2020 personal property taxes for park owned homes.

7. Numbers do not reflect actual expense.

8. As-Is Proforma annualizes the in-place rent roll to arrive at the EGI number and assumes some normalized expenses and owner utility projections to arrive at a total expense number.

9. Stabilized Proforma assumes the 2 brand new TRU homes are set up and rented for $1,100 each and assumes some normalized expenses and owner utility projections to arrive at a total expense number.

UNDERWRITING ASSUMPTIONS

A 12-SITE COMMUNITYPRICE: $450,000 ( INCLUDES 9 PARK OWNED HOMES)

FINANCIAL ANALYSIS

CITY OF CEDAR HILL TOP EMPLOYERS INDUSTRY EMPLOYEES

Cedar Hill ISD Education 1,025

City of Cedar Hill Government 380

Wal-Mart Supercenter Retail 250

Total Highway Maintenance Construction 250

JCPenney Store Support Center Retail 240

Super Target Retail 220

Dillard's Retail 144

JCPenney Retail 135

DMI Corporation Construction 130

Home Depot Retail 130 Cedar Hill Economic Development Corporation

DEMOGRAPHIC INFORMATION 1 MILE 5 MILES 10 MILES

2020 Population Estimate 3,515 83,012 460,322

Population Growth 2010 - 2020 19.19% 19.64% 22.19%

2020 Renter Occupied Housing Percentage 17.0% 23.9% 29.4%

2020 Owner Occupied Housing Percentage 79.0% 72.4% 66.1%

2020 Estimated Average Household Income $94,295 $100,780 $93,623

2020 Estimated Average Owner-Occupied Housing Value $214,657 $269,179 $240,318

Source: U.S. Census Bureau

A 12-SITE COMMUNITYPRICE: $450,000 ( INCLUDES 9 PARK OWNED HOMES)

AREA EMPLOYMENT & DEMOGRAPHICS

Dallas, TX• The city of Dallas is the main core of the largest metropolitan area in the Southern U.S. and the largest

inland metro area that lacks a navigable link to the sea. The DFW metroplex is the fourth largest in the country at 7.5 million people, and Dallas is home to 10 Fortune 500 companies within the city limits. The DFW metroplex hosts an additional 23 Fortune 500 companies.

• A prominent transportation hub, with four major interstate highways converging in the city and a fifth interstate loop around it. Dallas is also home to Dallas/Fort Worth International Airport, one of the largest and busiest airports in the world.

Cedar Hill, TX• Conveniently located in the DFW metroplex, Cedar Hill is only 20 minutes from downtown Dallas but has an

abundance of scenic rolling hills and surprising natural beauty as well as a variety of retail, entertainment, and dining options.

• The downtown Cedar Hill area is home to charming boutiques, independent restaurants, quirky museums, and was included on a list of the 7 DFW suburbs with the best downtowns by neighborhoods.com.

DALLAS

WS Permenter Middle School

Cedar HillHigh School

Joe PoolLake

Cedar HillState Park

Dogwood Canyon Audubon Center

Recreate PMS

DALLASFORT WORTH

A 12-SITE COMMUNITYPRICE: $450,000 ( INCLUDES 9 PARK OWNED HOMES)

LOCATION MAP & AREA ATTRACTIONS

HIGH DR

SIMMONS DR

WINDY LN

PLEASE DO NOT SPEAK WITH TENANTS OR EMPLOYEES

Additional information is available on our website at: http://arausa.listinglab.com/CedarHillMHC

!

PRIMARY CONTACTS

This information has been derived from sources deemed reliable. However, it is subject to errors, omissions, price change and/or withdrawal, and no warranty is made as to the accuracy. Further, no warranties or representation shall be made by Newmark Knight Frank (NKF) and/or its agents, representatives or affiliates regarding oral statements which have been made in the discussion of the above property. This presentation, prepared by NKF was sent to the recipient under the assumption that s/ he is a buying principal. Any potential purchaser is advised that s/ he should either have the abstract covering the real estate which is the subject of the contract examined by an attorney of his/her selection, or be furnished a policy of title insurance. Do Do not contact the Property.not contact the Property.

www.ngkf.com

Manufactured Housing 2530 Walsh Tarlton Ln, Suite 200, Austin, TX 78746 T 512.342.8100

Andrew Shihandrew.shih@ngkf.com512.637.1219

Todd Fletchertodd.fletcher@ngkf.com 303.260.4470

Joe Gossjoe.goss@ngkf.com 512.637.1228