Victory Court

Tenant and Park Owned Homes

• This property is comprised of a mix of tenant and park owned homes.​ The current owners have been able to keep maintenance costs low, while collecting park owned home rent for an improved NOI.​

Infill Opportunity

• This property consists of 14 total lots, 6 of which are occupied.​ A new owner would have the ability to bring in 8 new homes at $300/month in lot rent, which would increase the gross income by $2,400/month or $28,800 annually.​

Direct Bill Utilities

• All utilities are directly billed to the tenants (water/sewer, trash, electric, and gas).​ The owners do not have to submeter any utilities and are not responsible costs associated with utility usage.​

• The current owners are responsible for a $75/month ($25 per vacant unit) for the meter hook-ups to each vacant unit on the property.​ This is a cost that would be taken off the expense report after homes are occupied.​

City Maintained Roads

• The roads surrounding the park are all maintained by the city.​ The current owners do not have to pay for road repairs or snow removal for the property.​

On-Site Management

• The current tenant in Lot 2 serves as the park manager in exchange for a $300/month rent credit.​

Vacant Park Owned Homes

• There are 3 vacant homes on the park that either need to be rehabilitated prior to renting to a new tenant or removed from the park.​ Those homes are located in lots 8, 9, and 12.​ See the lot outline map for their locations.​

Donnellson, Iowa

• Donnellson, IA is located in the southeast corner of the state in Lee County.

• It is home to about 920 people. The median age of Donnellson residents is 35 years old and its median household income is about $52,000/year.

• The average commute time for Donnellson residents is about 25 minutes. Donnellson is a commuter town in which many residents travel to nearby Mt. Pleasant, Fort Madison, or Keokuk for work.

• The primary occupations by industry are Healthcare and Social Assistance, Manufacturing, and Retail Trade.

• Some of the largest employers in the region include Dupont Chemical, Siemens Gamasa, Henniges Automotive, Conagra Food Processing, Scotts Miracle-Gro, and Merschman Seeds.