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Performing Seller-Financed Note For Sale – 5% Below Balance (Afton, IA - $57,450 (Iowa)
210 S Grace Street
condition:
fair
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Afton Mobile Home Park — 210 S Grace St, Afton, IA 50830
The Crecco Companies is offering a performing, owner-carried note secured by an occupied manufactured home in Afton Mobile Home Park (Union County, IA). The borrower has paid on time since origination — the note is current today, with no missed or late payments. This is a simple assignment of a single, real, occupied note — not a bulk pool, not a reperforming workout.
KEY TERMS
* Collateral: Manufactured home, 210 S Grace St, Afton, IA 50830 (Lot N 1/2 22 & 23), Afton Mobile Home Park
* Unpaid balance: $60,471.33
* Monthly payment (P&I): $651.65
* Payment status: CURRENT — no missed or late payments
* Maturity: August 2037 (~133 monthly payments remaining)
* Asking price: approx. 5% discount to unpaid balance (~$57,400–$57,450, to be confirmed as of closing)
* Servicing: currently collected via money order/cashier's check through the park's property manager
WHY THIS NOTE
- Occupied, owner-carried collateral with an established on-time payment history
- Simple one-for-one assignment of the seller's rights — no park ownership, property management, or landlord obligations transfer to the buyer
- Priced below par for immediate yield pickup over the contract rate
- Motivated seller — full loan file (signed note, payment history, title documentation) provided to qualified buyers for underwriting
MARKET CONTEXT
Afton sits in Union County, Iowa, where comparable manufactured and site-built homes typically trade in the $85,000–$125,000 range — well above the note's current balance. (General area color, not a formal appraisal of this specific home.)
Serious, qualified buyers only, please. Contact us to request the full note package and begin your underwriting.
This summary is for preliminary review only and is not a solicitation or offer to sell a security. All figures subject to confirmation as of the closing date.