River Glenn Estates MHP

COSHOCTON COUNTY, OH - Tucked into the rolling countryside of Coshocton County, Ohio, River Glenn Estates is a 76-pad manufactured-housing community on 31.5 acres — the kind of established, public-utility community that rarely trades at this basis. Offered at $1,900,000, about $25,000 a pad, it is priced below its own 2022 MAI appraisal of $2,000,000.

The community sits on municipal water and sewer with paved private roads throughout, so there are no wells or septic systems to manage. Most residents own their homes — 21 tenant-owned sites, plus 9 long-term RV sites and a handful of park-owned and rent-to-own homes — which keeps operations light while the community collects steady ground rent.

Just as important is where River Glenn sits relative to Ohio's fastest-moving economy. The community is roughly fifty minutes from Newark and a little over an hour from Columbus — Newark sits almost exactly halfway, about 47 miles from the property, with Columbus another 72 miles west.

That places it on the rural edge of what officials now call the "Silicon Heartland." Newark and surrounding Licking County have become a magnet for hyperscale investment: the New Albany International Business Park spans roughly 12,000 acres and has drawn data-center campuses from Amazon Web Services, Microsoft, Google, Meta and others, while Intel's roughly $28 billion "Ohio One" semiconductor campus is under construction in the county, with its fabs slated to come online in the early 2030s.

The jobs, payrolls and contractors gathering around Newark create exactly the kind of outward housing pressure that lands in affordable communities one county over — and River Glenn offers attainable workforce housing at a fraction of metro-Columbus cost.

What makes River Glenn compelling is what is still to come. Forty of its seventy-six pads are occupied today — nearly half the community already built and waiting, paved and connected. This isn't a bet on rising rents or a hot market; the upside is physically on the ground, in finished pads that simply need homes.

Filling those vacant pads is the headline opportunity — each home placed at the going $375 lot rent adds lasting value, on sites that would cost six figures apiece to build from raw land. From there, sub-metering the water recaptures roughly $13,900 a year the park now absorbs, and bringing a handful of below-market lots up to standard adds another layer — all through ordinary, hands-on management, nothing speculative.

The price is supported from two directions at once. An independent appraisal already values the property above the ask, and the income tells the same story: once leased up, River Glenn pencils to a cap rate north of 11% on the asking price, with a stabilized value comfortably above today's basis. For the right operator there is room to structure the purchase — including seller financing — to step into tomorrow's value at today's price.

In short, it is a chance to buy below replacement cost, below appraisal, and to own the upside outright.