Timbers Mobile Home Park

Hillsborough, North Carolina

Listed: $1,457,500

Sold: $1,500,000

Timbers MHP 5
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Timbers Mobile Home Park is a 89 space all-age lot-rental only community located in Hillsborough, North Carolina (Orange County), established in 1982. Timbers Mobile Home Park is an all lot rental community, with 57 lot rental homes and 32 vacant lots. City water and sewer are directly metered to residents and all sites have electric hookups. Current NOI is $144,434 and cap rate is 9.91%.

The unemployment rate in Hillsborough is 4.00 percent (U.S. avg. is 6.30%). Recent job growth is Positive. Hillsborough jobs have Increased by 1.64 percent. The median home cost in Hillsborough is $200,300. Home appreciation the last year has been 1.60 percent. Renters make up 40.23% of the Hillsborough population. Three bedroom home or apartment rents for an average of $1,133 (U.S. avg. is $1,289).

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