December 25, 2025
When mobile home park owners want a clear and realistic understanding of what their property is worth in today’s market, a Broker’s Opinion of Value (BOV) is one of the most effective tools available. At Mid-Plains Land & Realty, we specialize exclusively in the mobile home park asset class, giving our clients access to market knowledge, operational insight, and valuation experience that general real estate firms can’t match.
Our BOV process is structured, data-driven, and built around helping owners make confident decisions — whether they’re considering selling now, improving operations before a sale, or simply wanting an updated market perspective. Here’s a behind-the-scenes look at how we evaluate a mobile home park and develop a thorough, defensible Broker’s Opinion of Value.
Every evaluation begins with a detailed review of the park’s physical characteristics. This includes the park’s acreage, zoning, taxes, utility setup, parcels, floodplain details, easements, and undeveloped tracts of land.
We then break down the site configuration, including:
Understanding occupancy, unit mix, and site types is critical, as each category contributes differently to the park’s valuation. For example, TOH sites typically command stronger pricing and lower maintenance risk compared to POH-heavy communities, while storage units or additional land may add measurable value depending on demand and zoning.
A core component of our BOV is analyzing the park’s actual financials. Using the owner-provided profit and loss statement, we evaluate:
We then compare actual performance with market rental rates to calculate the property’s proforma potential. If rents are below market, we illustrate what the park could achieve with modernized pricing or improved occupancy.
This step allows owners to see not just what their park is worth today, but also how strategic adjustments could increase value prior to a sale.
Mid-Plains Land & Realty uses a combination of the Income Approach and Market Approach, giving park owners a balanced understanding of value from multiple angles.
We develop valuations based on:
This approach highlights how efficiently the park is operating today and what it could be worth if stabilized or optimized.
Our team compiles recent comparable sales, as well as current market offerings, and evaluates them per-site type based on the subject park’s characteristics.
This includes a review of:
Because mobile home parks rarely share identical configurations, we apply weighted adjustments based on unit mix, occupancy, condition, and market stability.
After analyzing the physical components, financials, income approach, and comparable market data, we present a value range, typically consisting of:
We also include notes, assumptions, and observations to ensure transparency.
Our goal isn’t just to assign a signular CAP rate number and push it out to market — it’s to give park owners complete market clarity. Whether an owner is preparing to sell, weighing future improvements, or simply curious where they stand, our BOV process provides an honest, data-supported perspective shaped by decades of hands-on park ownership and brokerage experience.
If you'd like Mid-Plains Land & Realty to prepare a complimentary Broker’s Opinion of Value, simply request one on our Mobile Home Park Valuation page. We’re here to help you make the most informed decision possible.
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