One of the most misunderstood value-add levers in manufactured housing is also one of the most powerful: filling empty lots.

What Infill Is

When we acquire a mobile home park, we often acquire it with a percentage of vacant lots. A vacant lot generates zero revenue. A filled lot generates lot rent every month, perpetually, with essentially zero additional operating expense.

Infill is the process of sourcing, placing, and occupying new manufactured homes on those vacant sites. It is how we convert dead land into income-producing assets.

The Economics

Here is a simplified version of the math:

• A vacant lot in a market with $400/month lot rent generates ($0/year)
• A filled lot conservatively generates a NOI of $300/month ($3,600/year)
• At a 7% cap rate, that filled lot adds approximately $51,000 in asset value
• If we fill 20 lots across a park, that is potentially $1M+ in created equity!

This is not appreciation speculation. This is manufactured value creation through operational execution.

How the Process Works

Step 1: Source the homes

We work with manufactured home retailers and manufacturers (including companies like Clayton Homes) to source new or quality pre-owned homes for placement. The home can be purchased by the resident directly, financed through a chattel lender, or in some cases placed by the park as a park-owned home.

Step 2: Site preparation

Vacant lots often require utility connections, leveling, and pad preparation before a home can be placed. We budget these costs as part of our acquisition CapEx plan.

Step 3: Home placement