RVP UnderwriterFree calculator
RV Park Valuation Calculator
Value a workforce park, an RV resort or a mixed campground the way an underwriter does: build the income from the site mix, take out real operating costs and a reserve, then divide by a cap-rate range. Fill it from a listing or an OM, or start from the example and type your own numbers.
Start from a listing (optional)
Paste a listing link or the listing text, or attach the offering memorandum. We read the site mix, rates, occupancy, income, expenses and price, and fill the form below. Free, no account needed.
Showing only the site types this park has.
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Monthly sites
Seasonal sites
Nightly sites
Weekly stays
Cabins, glamping and rentals
Income beyond site rent
Costs
Value and financing
The math runs in your browser. If you fill the form from a listing or an OM, that document is sent to our reader to pull out the numbers. An estimate from the numbers you enter, not an appraisal or a recommendation.
Disclaimer: For informational purposes only. Not financial, investment, legal or tax advice, an appraisal, or an offer to buy or sell. Results depend entirely on the numbers entered and the assumptions on this page, and numbers filled from a listing are the seller's figures as presented. Verify every figure against the property's documents and consult qualified professionals before you act.
How to value an RV park
An RV park is valued on its income. Build the gross income the sites actually collect, subtract what it really costs to run the park, set aside a capital reserve, and you have net operating income (NOI). Divide the NOI by a market cap rate and you have a value:
Value = Net operating income ÷ Cap rate
Every step of that chain is where a seller's number goes wrong, so this calculator makes each one an input you control. The full method, line by line, is in how to underwrite an RV park.
Workforce parks, RV resorts and everything between
Not every RV park is the same business. A workforce park houses people who work nearby, on monthly rent: steady income, low turnover, but demand that follows local employers, and long stays that can bring tenant protections in some states. An RV resort sells nights and weeks to travelers, is often seasonal, and earns real money beyond site rent: a store, cabins and glamping, golf-cart and kayak rentals, events. A mixed campground has some of each. Pick the type and the form shows the rows that business actually has.
Build income from the site mix, not one occupancy number
One annual occupancy figure blends monthly, seasonal, nightly and weekly guests and hides the swing. Enter each group separately. For nightly and weekly stays, give the peak months and the occupancy in and out of season: a park that runs 70% full in July and 20% in January is not a 70% park, and an offering memorandum that annualizes its best month overstates the income every time. Income beyond site rent counts, but each line carries its own costs, so confirm it month by month in the T-12.
What occupancy to expect
Occupancy is the number most listings leave out, and no free source publishes it by park type and location. National figures disagree: booking data from Campspot and OHI showed about 34.9% average occupancy over the trailing twelve months (OHI Data Dig, January 2025), while an RVIA campground survey put the year at 54% and summer at 76% (reported in 2020). When a listing publishes no income, this calculator shows the value across that national band and the occupancy the asking price needs. For a real park, ask the broker for the occupancy report from the park's reservation system and the T-12 by month, then enter that occupancy and recalculate.
What expense ratio to use
The full underwriting flags an RV park's expense ratio by band: under 30% of income is abnormally low and usually means missing costs (no management fee, no reserve, repairs deferred); 30% to 40% is a bit low; 40% to 60% is the healthy range for a well-run park; 60% to 70% is high; over 70% means the economics are compressed. Resorts with stores, staff and amenities usually sit higher in the range than workforce parks. A low ratio is not a bargain, it is a missing line. See operating expense ratio and how to rebuild the seller's NOI.
A capital reserve per site
Roads, pedestals, water lines and bathhouses wear out on their own schedule, so budget the reserve per site rather than as a percentage of income, and set it above zero even when the seller's statement shows none. Enter your own estimate here. A park with a pool, a clubhouse, cabins or a private well or septic system needs more than a bare-bones one, and the seller's capital history (what was replaced, and when) is the best guide to what is coming due. RVP Underwriter's full underwriting sizes the reserve from the park's actual amenities, utilities and rental units.
Choosing a cap rate
The cap rate comes from what comparable parks have actually sold for, not from the listing. Destination parks and well-kept properties command lower cap rates (higher prices); overnight stops, transient-heavy parks and parks with deferred maintenance or private utilities trade at higher ones. Enter a low and a high rate to see the range, and compare the result with your loan rate: a cap rate only a point or two above the interest rate leaves very little cash flow. More on cap rates and the cap rate calculator.
From an estimate to an offer
This calculator values the park on the numbers you enter or the seller's numbers it reads. A real offer needs those numbers checked: the T-12 read month by month, occupancy verified against the rent roll, the property tax reassessed at your purchase price, insurance quoted for the park, and the price worked back from your DSCR and cash-on-cash targets. RVP Underwriter does that from the listing documents in about two minutes. Underwrite a deal free.
Questions
How do you value an RV park?
With the income approach: build the gross income from the site mix (monthly, seasonal, nightly and weekly sites at their real occupancy, plus income beyond site rent), subtract operating expenses and a capital reserve to get net operating income, then divide by a cap rate drawn from comparable park sales. Value = NOI divided by the cap rate.
Can the calculator read a listing or an offering memorandum?
Yes. Paste a listing link or the listing text, or attach the OM as a PDF, and it fills the site mix, rates, occupancy, income beyond site rent, the expense ratio and the asking price from the document. Those are the seller's figures as presented, so check them before you rely on the value.
How is a workforce RV park different from an RV resort?
A workforce park rents sites by the month to people working nearby: steady income and low turnover, but demand that depends on local employers, and long stays that can carry tenant protections in some states. An RV resort rents nights and weeks to travelers, is often seasonal, and earns income from a store, cabins, rentals and events, each with its own costs.
What expense ratio should I use for an RV park?
Use the park's real expenses from its T-12 when you have them. As a check, RVP Underwriter treats 40% to 60% of income as the healthy range for a well-run park; under 30% usually means costs are missing, such as management, a reserve, or repairs, and over 70% means the economics are compressed.
Is this an appraisal?
No. It is an estimate from the numbers entered, not an appraisal or a recommendation. For an offer, underwrite the actual documents: RVP Underwriter normalizes the seller's T-12, verifies occupancy, reassesses taxes and prices three offer structures.
Related calculators
Underwriting a specific property?
Step by step, line by line: how to underwrite an RV park or campground, a mobile home park, or a self storage facility. Every one starts the same way: rebuild the seller's NOI.
These calculators are quick estimators for screening. A full RVP Underwriter analysis normalizes the seller's numbers, verifies occupancy, researches your county's taxes and insurance, and prices three offer structures against your DSCR and cash-on-cash targets. Run a deal free.