Found a clean manufactured home for $95K but it sits on land with a $640 a month lease. That seems like a lot for just a lot.
Does anyone know the odds that the seller might agree to sell the land AND
Is there a rule of thumb on how to calculate the value of the land given the lease amount?
TIA

You miss 100% of the shots you don't take.

And the calculation you're searching for is called a "capitalization rate" or a "cap rate" for short. Take the NOI and divide by the purchase price and you've got a cap rate.

In your example, $640 x 12 months is $7,680. Divide that by $95,000 and you've got a cap rate of 8.08%. You might compare that to other investment options like the 10 year treasury yield that current sits at roughly 4.30% (and is supposed to be risk free). So you're being paid about 3.8% for your risk and labor.

BUT, the problem with that calculation is that it doesn't consider taxes, maintenance, expenses, etc. In real life you might have property taxes of something like $2,680 per year, and then you have to pay for leasing and property management fees, which is another $1,000 per year, and then you have general maintenance of another $1,000 per year, so your net income is only $3,000 per year, which puts your cap rate at just 3.16%! Meaning you'd be better off just buying a 10 year treasury! (Before considering appreciation, tax benefits, and possibly mortgage paydown [and do you really want to bank on those as part of your investment thesis?]).