Rent Upside Current rents below market Comparable park rents $600+ without utilities • Subject property includes W/S/T ? even stronger positioning Lease-Up Opportunity • 2 homes currently being sold ? near-term income increase • Repo home can be resold or rented Expansion Opportunity Expand from 9 to 12 lots Existing well supports expansion Upgrade option removes limitation Development Cost • ~$22,500 per lot Turnkey contractor available (lot prep, utilities, etc.)