Glenville Manor Estates 413 Saratoga Rd Immeuble residentiel 88 lots 3 417 258 € (38 832 €/Lot) Taux de capitalisation 7,96 % Schenectady, NY 12302

The Esterson MHC Team is pleased to present Glenville Manor Estates, located in Glenville, NY (Albany-Schenectady-Troy MSA, a cash-flowing, value-add manufactured housing community consisting of 88 total units with immediate upside through infill, rent growth, and operational improvements.
Located approximately 15 miles northwest of Albany along Saratoga Road (NY Route 50, Glenville sits within New York’s Capital Region — the state’s third-largest metro area with a population of approximately 913,000. The Albany-Schenectady-Troy MSA benefits from a diversified employment base anchored by state government, healthcare systems (Albany Med, Ellis Medicine, higher education (SUNY Albany, Union College, RPI, and a growing technology sector marketed under the “Tech Valley” brand. Schenectady County is currently one of the fastest-growing counties in the Capital Region at approximately 1.2% annual growth, driven by strong domestic in-migration and new housing demand. Glenville itself is recognized as one of the best places to live in New York, with a median household income of approximately $94,866 — significantly above the national average — and a population of approximately 29,675.
This offering consists of 88 total units, including 70 tenant-owned homes (TOH, 1 occupied single-family home ($1,612/month, and 2 garages ($113/month, and 14 vacant mobile home lots and 1 vacant garage, presenting an infill and stabilization opportunity. The average MH lot rent is $512/month, with projected market lot rent of $650/month, providing approximately $138/month in natural rent growth per occupied lot. Several vacant lots require concrete pads and utility connections, while others have partial or full infrastructure in place.
Glenville Manor Estates is serviced by public water (landlord pays, included in rent and septic with 2 sewer pumps (landlord pays, included in rent. Trash is curbside and billed back to tenants at $23/month. Electric, gas/propane, and cable are all tenant-paid via direct bill. The community has solar-powered streetlights, resulting in minimal common area electric expense (approximately $85/month for sewer pumps. Roads are private and paved. The community sits on approximately 9 acres and is NOT in a Flood Zone and NOT in an Opportunity Zone. Landlord mows common areas.
Glenville Manor Estates is being offered at a purchase price of $3,900,000, reflecting an 8.0% cap rate on in-place operations (P&L 1. The mark-to market 9.7% cap rate, reflecting full occupancy at market rents, translates to a potential upside value of $5,047,096 at a 7.5% exit cap. Investors may achieve meaningful upside by infilling 14 vacant MH lots at market rents of $650/month, gradually increasing legacy tenants
toward market levels and billing back water expenses (new tenants only). All offers should include price, inspection timeline, terms, proof of funds, due diligence requirements, and relevant real estate experience.