Fort Wayne Estates

Executive summary

Fort Wayne Estates is an 79-site manufactured housing community located in Fort Wayne, Indiana, a strong and steadily growing metro area. Current average lot rent is $492 with 52 lots occupied.  With 14 vacant park-owned homes, 13 vacant lots and an expansion plan available (approved by city) the community offers significant value-add potential through the renovation of existing homes and the infill of vacant sites. Current ownership just moved in 3 brand new homes, 2 of which are on existing lots and 1 on a newly developed lot. This community benefits from city water and sewer alongside newly paved roads that were completed 2 years ago. Offered at an in-place 8.82% cap rate and $29,304 per site (excluding home value).  Fort Wayne Estates provides investors with an attractive basis and multiple avenues for NOI growth. Additional information available for the expansion plan on page 7 of the Offering Memorandum and in the deal room.

Fort Wayne itself is one of the Midwest’s most stable real estate markets, supported by steady population growth and a diverse local economy anchored by major employers such as Parkview Health, General Motors, and Sweetwater Sound. With its strong rent growth, favorable tax environment, and limited new housing supply, Fort Wayne represents an appealing market for investors seeking both stability and long-term upside in the affordable housing sector.