The Esterson MHC Team is pleased to present Grant MHP, a stabilized, 56-unit, 98% occupied manufactured housing community with upside and all tenant-paid public utilities, located in Dry Ridge, KY within the Cincinnati, OH-KY-IN MSA.
Only a 30-minute drive from Cincinnati/Northern Kentucky International Airport and 40 minutes from downtown Cincinnati, Grant MHP sits directly off I-75 in Grant County. Grant County is part of the Cincinnati, OH-KY-IN MSA, which has approximately 2,312,858 residents as of the July 2025 Census and has added roughly 61,000 people since 2020. Grant County has approximately 25,418 residents with an annual growth rate of 1.7% and median household income of $69,178. The county employment base is anchored by manufacturing, transportation and warehousing, retail trade, and healthcare, with the I-75 corridor supporting continued logistics and distribution growth between the Cincinnati and Lexington markets.
The community consists of 56 total manufactured housing lots with 44 tenant-owned homes (TOH, 11 rent-to-own homes (RTO, and 1 vacant park-owned home (POH. The average lot rental rate per month is $450 across all occupied sites. The average RTO payment above lot rent is $423 and 10 of the 11 RTO units are 2024–2025 Clayton homes with maturities running from 2039 through 2040. The total remaining contract balances are approximately $703,680.
Grant MHP is serviced by public water and sewer that are billed directly to tenants, as well as curbside trash bins that are billed directly to tenants. The only utility cost carried by the park is street lights, greatly reducing the expense load, operational burden, and risk associated with private utilities or master-metered public utilities. The landlord mows common areas, which is currently done by the onsite manager. Interior roads are private and the larger of the two was repaved in July 2025. The property is NOT in a flood one and is NOT in an opportunity zone.
This park is being offered at a purchase price of $4,000,000, which reflects a 6.8% lot rent only cap rate and a 7.2% global cap rate on T1 revenue and T12 expense. The park qualifies for Fannie/Freddie non-recourse financing immediately. All offers should include price, inspection timeline, terms, proof of funds, due diligence requirements, and relevant real estate experience.
Broker Info:
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