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Manufactured Home ARV and Comps — How Flippers Prove Value
By Jason Taken · Principal, Jaken Finance Group
Manufactured home ARV and comps — finding real-property sales, FHA eligibility, foundation requirements, and hard money ARV caps at 75%.
Manufactured home ARV fails when flippers import stick-built comps or park chattel sales — lenders cap leverage at 75% ARV and require real-property evidence.
Hub: mobile home fix and flip loans · FHA manufactured guidance: HUD minimum property standards
Comp criteria checklist
| Factor | Requirement |
|---|---|
| Title type | Real property only — deed recorded |
| Foundation | Permanent — match subject type |
| Home age | ±5 years |
| Square footage | ±10% |
| Land | Owned parcel — not park lot |
| Distance | Same county preferred; rural may extend to 15 miles |
| Sale date | Last 6–12 months |
Exclude: chattel sales, park lot transfers, stick-built SFR unless lender explicitly allows (rare).
Where to find comps
- MLS — filter manufactured / modular on owned land
- County recorder — deed type = real property
- Appraisers — local manufactured specialists
- Investor networks — off-market closed deals with recorded prices
Start comp research before LOI — not after hard money application.
FHA / VA exit requirements
Retail buyers using FHA require:
- Permanent foundation engineer certification
- HUD labels / data plate intact
- No ineligible additions (improper additions kill FHA)
- Minimum property standards pass
If ARV depends on FHA buyer, verify eligibility before hard money close.
Guide: chattel vs real property
ARV worksheet example
Subject: 2001 double-wide, 1,456 sf, permanent foundation, 0.35 acres
| Comp | Sale | SF | Adjustments | Adjusted value |
|---|---|---|---|---|
| 1 | $205,000 | 1,520 | +$5K acreage | $210,000 |
| 2 | $198,000 | 1,380 | — | $198,000 |
| 3 | $215,000 | 1,490 | -$8K age | $207,000 |
| Indicated ARV | ~$205,000 |
Leverage math at 75% ARV cap
| Line | Amount |
|---|---|
| ARV | $205,000 |
| 75% ARV max loan | $153,750 |
| Purchase + rehab | $112K + $38K = $150,000 |
| Leverage | LTC OK — ARV not binding |
When ARV cap binds before LTC — reduce offer or increase equity.
Case study: double-wide flip
Common ARV mistakes
- Using stick-built ranch comps — overstates value 15%–25%
- Ignoring foundation type — FHA rejection at sale
- Park lot comps — wrong collateral class
- Stale comps — rural markets need 12-month window
- Over-improvement — ARV ceiling on manufactured product
File package for lender review
Bring these before hard money application on manufactured flips:
- Three sold comps — real property, same county, ±10% sf
- Engineer letter or foundation photos if FHA exit planned
- HUD data plate photos — labels visible
- Scope of work with contractor bid
- Purchase contract or LOI with inspection period
Weak comp packages cap leverage at 65% LTC instead of 90% — start comp research at LOI. Hub: mobile home fix and flip loans
Jaken underwrites manufactured flips nationwide on real property collateral — submit the file package above via submit scenario for proof of funds and term sheet.
Related
Pre-qualify · (833) 264-7776
ARV and comp quality directly determine LTC — submit sold comp PDFs with your application for fastest term sheet. Hub: MH flip loans. See double-wide case study. Rates from 8.99%–13.5% IO. Nationwide lending.