Listed by Barry Bakke Investment Real Estate Fischer s Place Mobile Home Park

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1 Listed by Barry Bakke Investment Real Estate Fischer s Place Mobile Home Park 172 Park Ave, Nyssa Oregon List price: $1,325, 1 Barry Bakke Investment Real Estate Ph:

2 Investment Highlights All Tenant owned mobile homes (except one that is for sale) Onsite manager Financials are underwritten with 3 vacant sites. Unit Mix: 35 Mobile homes sites, One RV site, 1 Studio Apartment, 1 stick built house and 11 self storage units Low cost utilities, serviced by well and septic Electricity direct billed by Idaho Power to each tenant 7.64% CAP rate on current occupancy at current rents Pro Forma 7.93% CAP rate based on current rents and filling 1 vacancy 9.42% cash on cash rate of return Return on Investment (including principal reduction) based on $398, down payment and a new bank loan in the amount of $927, is 14.36% on current income For Additional Information Please Contact: Barry Bakke Investment Real Estate 549 Hwy 52 New Plymouth, ID PH (28) BarryBakke@gmail.com All information in this flyer was obtained from sources deemed reliable but is not guaranteed. Buyers are encouraged to do their own due diligence 2 Barry Bakke Investment Real Estate Ph:

3 Property Photos Looking North at West Section of park Park Shop & Maint Building East Section looking north 3 View from Park Avenue Storage Building with 9 Self Storage Units with Apt on side East Section looking south Barry Bakke Investment Real Estate Ph:

4 Investment Summary Fischer s Place Mobile Home Park is a clean, well managed, all age community situated on one parcel of 6.94 acres. It includes a stick built house, one studio apartment, 35 mobile home sites, one RV site, a building with eleven self storage units and a second building that is used as a shop and general storage for the park. The main competing mobile home park in town is fully occupied and has effective lot rents of $342 when factoring in water, sewer and trash (see rent survey below). Fischer s Place MHP lot rents are only $32 including water, sewer and trash. Of the three vacant sites, two of them were recently wired to accommodate a mobile home or RV and one site is currently only set up as an RV site. Fischer s Place MHP is priced at a 7.64% Cap rate based on current occupancy and current rents, and Pro Forma cap rate of 7.93%, at current rents filling just one vacancy. Fischer s Place offers the investor stabilized cash flow coupled with upside potential through filling three vacant sites. The stick built home is occupied by the manager and has wood siding and a composite roof. The shop, self storage building and the studio apartment have exterior block walls and steel roofs. The park has four water wells. Two wells are filtered and treated and are used for potable water. The other two wells are used for irrigation water which is not treated. Sewer is handled by septic systems. Power is supplied and billed directly to each tenant by Idaho Power (the regional power company). Garbage is collected by a local company with dumpsters. The park has two entrances on Park Avenue. The two paved streets loop around and connect at the back of the park, as well as, behind the park shop. Location Summary Fischer s Place Mobile Home Park is located in Malheur County, outside the city limits of Nyssa, Oregon. Nyssa has a population of just over 32 and is located in Eastern Oregon, bordering Idaho. Malheur County is known for the agricultural cultivation of Russet potatoes, sugar beets, onions, corn, flower seed, mint, and wheat. Nyssa is most famous for their high quality onions that are shipped nationwide. Nyssa is located 5 miles west of the Boise Idaho Airport. 4 Barry Bakke Investment Real Estate Ph:

5 Map of Units 5 Barry Bakke Investment Real Estate Ph:

6 Unit Mix Unit type # units Mobile Home Current Rent Vacant 35 $32 $11,2 2 RV only 1 $32 $32 1 House 1 $55 $55 1 Bedroom Apartment 1 $325 $325 Storage 6 $3 $18 Storage 2 $5 $1 Storage 1 $45 $45 Storage 2 $35 $7 2 $45 $45 Water sales to neighbor Total Gross Potential Monthly Income $12,79 Vacancy $1,3 Adjusted Gross Monthly Income $11,76 Currently one park owned mobile home is for sale in the park. The home is not included in the sales price and the owner anticipates selling it prior to selling the park. Park is underwritten on the space rent of these units. The two vacant storage units have been used by the park owners and they have been emptied and have the potential to be rented out. 6 Barry Bakke Investment Real Estate Ph:

7 Projected Income and Expenses Income amount Pro Forma Current Occupancy Fill one vacancy Gross Potential Rent $153,48 $153,48 Vacancy ($12,9) ($9,6) Adjusted Gross Income $14,58 $144,42 Cable One $1,524. $1,524. Idaho Power $4, $4, Ontario Sanitary Serv $3,77.16 $3,77.16 Office Supplies $1,. $1,. Management Fee $8,46. $8,46. $32. $32. Insurance $3,. $3,. Property tax $5,5. $5,5. backflush tank media $1,. $1,. Clorine $2,16. $2,16. $ $ Landscaping $1,5. $1,5. Maintenance & Repairs $2,4. $2,4. Water Tests $1,. $1,. Reserves $2,4. $2,4. $39, $39, % 27.26% $11,215.1 $15, % 7.93% $63,74.18 $63,74.18 Expenses OPMA Fees and Licensing Total Expenses % expenses Net Cap rate Debt Service 7 LTV 5/25 4.8%int Net Income After Debt Service Cash on Cash Return Principal Reduction Yr 1 Return on Down Payment (ROI) $41, , % 1.38% $19,673. $19, % 15.32% Based New Bank Loan of $927, Based on Down pmt of $398, 7 Barry Bakke Investment Real Estate Ph:

8 Rent Comparables Bar Chart $35 $34 $33 $32 $31 $3 $29 $28 $27 Fisher's Sparks MHP Treasure Place MHP (Nyssa) Valley MHP (Nyssa) (Vale) Ontario Idle Wheels Mobilette MHP (Ontario) Ranch (Ontario) (Ontario) Cooper Country (Ontario) TV Mobile Westgate Village (Ontario) (Ontario) Effective rents have been adjusted to include water, sewer and trash service. More detail can be found below in the individual rent comparables. * Fischer s Place lot rents of $32 per month are effective November 1, 217 after a $2 rent increase. 8 Barry Bakke Investment Real Estate Ph:

Malheur County Rent Comparables Subject Property Fischer s Place Mobile Home Park Total number of Spaces: 36MH 1 House 1 apt 72 Park Ave.

effect Nov 1, 217. Park is underwritten with the new lot rents of $32. Comp 1 Sparks Mobile Home Park Total number of Spaces: 91 9 Oak St.

$1 per month for water & sewer (billed direct from the city) plus about $17 for trash. Trash varies from $12.5 for 4 gallon container picked up weekly up to $22.

9 Malheur County Rent Comparables Subject Property Fischer s Place Mobile Home Park Total number of Spaces: 36MH 1 House 1 apt 72 Park Ave. Nyssa, OR Lot Rents: $32 Effective Lot Rent: $32* Vacant Spaces: 3 Vacant Homes: Rent includes: W/S/T Date survey was taken: 7/2/217 Comments: Lot rent has been $3 but $2 rent increase takes effect Nov 1, 217. Park is underwritten with the new lot rents of $32. Comp 1 Sparks Mobile Home Park Total number of Spaces: 91 9 Oak St. Nyssa, OR Lot Rents: $225 Effective Lot Rent: $342 Vacant Spaces: None* Vacant Homes: None Rent includes: irrigation water Date survey was taken: 3/8/217 Comments: Tenants pay approximately of $1 per month for water & sewer (billed direct from the city) plus about $17 for trash. Trash varies from $12.5 for 4 gallon container picked up weekly up to $22.5 for a 9 gal receptacle picked up weekly. Effective rent is based on the midsize container at $17 per month. Irrigation water is included in the lot rent. This park is clean and well managed. *Currently there is one vacant space but the owner removed an older home and is in the process of upgrading to a newer home. Comp 2 Treasure Valley MHP Total number of Spaces: new 1 Hope St. Vale, OR Lot Rents: $27 Effective Lot Rent: $3.1 Vacant Spaces: 1 in Original Park Rent includes: S/T/Irrigation Water Vacant Homes: Unknown Date survey was taken: 3/8/217 Comments: Tenants are billed for potable water. Manager estimates the minimum water bill to be around $3.1 per month. This brings the effective lot rent to $3.1. The original section of the park has one vacant lot and the new section of the park which they are in the process of filling has three vacant MH sites and 3 RV sites. Vale has a population of approximately 1, Barry Bakke Investment Real Estate Ph:

Malheur County Rent Comparables (continued) Comp 3 Idle Wheels 198 SE 5th Ontario, OR 97914 Total number of Spaces: 52 Effective Lot Rents: $31 Vacant Spaces: 4 Vacant Homes: Unknown Rent includes:

Comp 4 Mobilette Ranch Total number of Spaces: 31 17 Alameda Lot Rents: 25 Ontario, OR 97914 Effective Lot Rent: *$344.

The city reads and bills the tenants for water and sewer usage. According to the representative from Ontario City the bill has minimum flat rates for water and sewer of $65.

10 Malheur County Rent Comparables (continued) Comp 3 Idle Wheels 198 SE 5th Ontario, OR Total number of Spaces: 52 Effective Lot Rents: $31 Vacant Spaces: 4 Vacant Homes: Unknown Rent includes: W/S/T Date survey was taken: 3/7/217 Comments: This park has a large amount of park owned rentals and the home rents vary but the owner stated lot rents are$31. Comp 4 Mobilette Ranch Total number of Spaces: Alameda Lot Rents: 25 Ontario, OR Effective Lot Rent: *$ Vacant Spaces: One Rent includes: no utilities or trash Vacant Homes: None* Date survey was taken: 3/7/217 Comments: Ontario Sanitation charges $21.7 per month for weekly pickup. The city reads and bills the tenants for water and sewer usage. According to the representative from Ontario City the bill has minimum flat rates for water and sewer of $65.45, when it is individually metered, as it is in this park, and it increases based on usage, for 4, gallons of usage the bill would be $72.66, when all fees are included. *Effective lot rent could be as low as $332.7 if the water and sewer usage was at the flat rate and garbage was picked up every other week. Comp 5 Cooper Country th 759 NW 8 St. Ontario, OR Rent includes: W/S Total number of Spaces: 5 Lot Rents: $311 Effective Lot Rent: $332.7 Vacant Spaces: 9 Vacant Homes: Unknown Date survey was taken: 3/8/217 Comments: Lot rent includes water and sewer. Tenants pay for the trash service which is $21.7 per month for a weekly pickup by Ontario sanitation. This brings the effective lot rent to $ Barry Bakke Investment Real Estate Ph:

Malheur County Rent Comparables (continued) Comp 6 Treasure Valley Mobile Village Total number of Spaces: 135 12 Wineger Dr.

7 Vacant Spaces:11 Vacant Homes: Unknown Date survey was taken: 3/7/217 Comments: Senior park, subject property is a family park. Tenants pay for their own trash service and it costs $21.

Comp 7 Westgate Mobile Home Park th 2511 SW 4 Ave Ontario, OR 97914 Total number of spaces 92 MH 11 RV 1 House Lot Rents: $33 includes W/S/T Effective Lot Rent: $33* Vacant Spaces: 2* Vacant Homes:

11 Malheur County Rent Comparables (continued) Comp 6 Treasure Valley Mobile Village Total number of Spaces: Wineger Dr. Ontario, OR Rent includes: W/S Lot Rents: SW $295 DW $3 RV $3 Effective Lot Rent: SW $316.7 DW $321.7 Vacant Spaces:11 Vacant Homes: Unknown Date survey was taken: 3/7/217 Comments: Senior park, subject property is a family park. Tenants pay for their own trash service and it costs $21.7 per month if it is picked up weekly. If picked up every other week the trash service is $17.25, reducing the effective rent by $4.45 per month. Comp 7 Westgate Mobile Home Park th 2511 SW 4 Ave Ontario, OR Total number of spaces 92 MH 11 RV 1 House Lot Rents: $33 includes W/S/T Effective Lot Rent: $33* Vacant Spaces: 2* Vacant Homes: None Rent Includes: Water, sewer and trash. (W/S/T) Date survey was taken: 4/4/217 Comments: Lot rent includes rent increase of $2 effective August 217. Most of the units will be paying $33 space rent. A minority of the units will be paying $3 which includes trash and irrigation water and they pay for their water and sewer based on consumption which is metered and billed by the park, bringing the effective lot rents to $33. *Manager stated 2 vacant homes and 2 vacant spaces but broker believes there may be some additional spaces vacant that need the utilities to be upgraded prior to being available for rent. Comp 8 Ontario Mobile Home Park 1167 SW 7th Ontario, OR Total number of Spaces: 55 Lot Rents: 33* Vacant Spaces: 2 Vacant Homes: None Rent includes: W/S/T Date survey was taken: 4/4/217 Comments: *Current rent is $31 but manager stated it is being raised to $33 effective August Barry Bakke Investment Real Estate Ph:

Property Specifications & Attributes Property Address: 172 Park Ave, Nyssa Oregon Type of Park: All age Year Built: 1958 Sewer: Septic Water: Four wells; two for irrigation and two for potable water

12 Property Specifications & Attributes Property Address: 172 Park Ave, Nyssa Oregon Type of Park: All age Year Built: 1958 Sewer: Septic Water: Four wells; two for irrigation and two for potable water Topography: Flat Tax Lot Numbers: 3 Zoning: C A1 Rent Control: No Last Rent Increase: $2 increase taking effect Nov 1, 217 Current income takes this increase into account. Rental Agreements: Month to month Aerial Photo 12 Barry Bakke Investment Real Estate Ph:

13 Local Area Business Statistics Business Profile 172 Park Ave, Nyssa, OR Site Type Benchmark Establishments Company Headquarters Employees Employees at Headquarters Rings CO: Malheur County: Mile Ring Establishments By Size 1-4 Employees 5-9 Employees 1-19 Employees 2-49 Employees 5-99 Employees Employees Employees Employees 1+ Employees Establishments By Industry Agric, Forestry, Fish (SIC1-9) Mining (SIC1-14) Construction (SIC15-17) Manufacturing (SIC2-39) Transportat & Comm (SIC4-49) Wholesale Trade (SIC 5-51) Retail Trade (SIC52-59) Finance, Ins & Real Est (SIC6-69) Services (SIC7-89) Public Admin (SIC9-98) Unclassified (SIC 99) Employees By Industry Agric, Forestry, Fish (SIC1-9) Mining (SIC1-14) Construction (SIC15-17) Manufacturing (SIC2-39) Transportat & Comm (SIC4-49) Wholesale Trade (SIC 5-51) Retail Trade (SIC52-59) Finance, Ins & Real Est (SIC6-69) Services (SIC7-89) Public Admin (SIC9-98) Unclassified (SIC 99) Labor Force White Collar Employees Blue Collar Employees 187 1,887 Benchmark 1, , , , , ,741 1, , ,72 4,433 Prepared for: Barry Bakke Investment Real Estate Prepared by: DXM Marketing Group 216 Applied Geographic Solutions, Inc., InfoGroup 13 Barry Bakke Investment Real Estate Ph: BP

14 For Additional Information Please Contact: Barry Bakke Investment Real Estate 549 Hwy 52 New Plymouth, ID PH (28) Barry Bakke Investment Real Estate Ph:

Listed by Barry Bakke Investment Real Estate Fischer s Place Mobile Home Park

Listed by Barry Bakke Investment Real Estate Fischer s Place Mobile Home Park 172 Park Ave, Nyssa Oregon 97913 List price: $1,325, 1 Barry Bakke Investment Real Estate Ph: 28-442-436 Investment Highlights