2364 N Parma Rd
Parma, MI 49269
9
Bedrooms
6
Bathrooms
3,808
Sq Ft
1970
Year Built
About This Property
Investment opportunity featuring a small, fully occupied mobile home park with stable cash flow. The property includes three separate parcels totaling approximately 9 acres, with five mobile homes on site. The seller owns four of the homes and receives lot rent from the fifth. Current gross annual income is approximately $54,540, with estimated annual operating expenses of $20,000 for taxes, insurance, maintenance, and repairs. The homes are approximately 30-40 years old, have been rebuilt or updated, and are in average to good condition with no known major deferred maintenance. Owner-paid utilities apply to the duplex units. The property is supported by three wells and four septic systems and offers convenient access to the highway and the Village of Parma. Additional vacant acreage may provide potential for future home sites or other uses, subject to municipal and zoning approval. Seller prefers owner financing through a land contract, with terms subject to negotiation and approval
Property Details
Property Type
Multi-Family
Year Built
1970
HOA
None
Listed Price
$395,000
Owner Financing Terms
Why Owner Financing?
- ✓ No bank qualifying
- ✓ Bad credit OK
- ✓ Fast closing
- ✓ Flexible terms
Free account - No credit card required
Frequently Asked Questions About Owner Financing in Parma
What is owner financing for 2364 N Parma Rd?
Owner financing means the seller of 2364 N Parma Rd acts as the lender. Instead of getting a mortgage from a bank, you make monthly payments directly to the property owner. This property in Parma, MI is available with owner financing terms.
Do I need good credit for owner financing?
No! One of the biggest advantages of owner financing is that you typically don't need to qualify through a bank. This makes it possible to buy a home even with bad credit, no credit history, or self-employment income that's hard to document.
How much is the down payment for this Parma home?
Down payment terms are negotiable. Sign up for free to get the specific financing details for this Parma property.