195 Dorr Dr - Manufactured Housing/Mobile Housing FOR SALE


Rutland, VT 05701
$600,000 USD
919-674-1123
195 Dorr Dr, Rutland, VT for Sale
$600,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/4
null | 10.11% Cap Rate

195 Dorr Dr
Rutland, VT 05701


HIGHLIGHTS

  • 17-lot, 100% occupied, tenant-owned-home community generating stable cash flow
  • Current lot rents average $409/month with potential to align with market averages of $540/month
  • Public water and sewer systems utilized with costs billed back to tenants for minimal landlord utility expense
  • Proximity to Killington and Okemo resorts as well as major hospitals, supporting diverse tenant demand
  • Offered at $600,000 with a 10.11% cap rate on current operations and upside reflected in future rent growth

OVERVIEW

The Esterson MHC Team is pleased to present Dorr Dr MHP, located in Rutland, VT - a 100% occupied, cash-flowing manufactured housing community consisting of 17 tentant owned homes with upside in rents. Dorr Dr MHP is located in Rutland, VT and sits within the Rutland Micropolitan Statistical Area, serving as the primary economic hub for southwestern Vermont. The area benefits from steady housing demand, limited inventory, and a constrained development pipeline typical of rural Vermont markets. Rutland is anchored by regional healthcare, retail, and tourism drivers, with close proximity to major destinations such as Killington Resort and Okemo Mountain Resort, both of which support year-round economic activity through winter tourism and summer recreation. Manufactured housing in this region serves a broad demographic including local workforce households, retirees, and residents priced out of the traditional homeownership and rental market. Rutland County continues to experience a widening affordability gap, with 2-bedroom apartment rents typically ranging from approximately $1,100-$1,400/month and 3-bedroom rents ranging from $1,400-$1,800/month. Average home values in the Rutland market generally range from $225,000-$300,000, while median household income falls in the $65,000-$70,000 range. These dynamics continue to support strong demand for manufactured housing as one of the most attainable forms of housing in the region. With limited supply of quality affordable housing, rising homeownership barriers, and zoning and regulatory constraints that restrict new park development, Dorr Dr MHP offers investors a stabilized, cash flowing opportunity with achievable upside through rent growth. Dorr Dr MHP is 100% occupied, consisting of 17 total lots with 17 tenant owned homes (TOH). Lot rent for the TOHs averages $409/month. Dorr Dr MHP is serviced by public water and sewer (tenant pays, billed back). Trash is serviced by dumpsters paid by the landlord and included in rent. Electric, gas/propane, and cable are all tenant-paid via direct bill. Landlord mows commons, is responsible for snow plowing, and maintains the private road. The park is not in a flood zone and is not in an opportunity zone. Dorr Dr MHP is being offered at a purchase price of $600,000 reflecting a 10.11% cap rate on in-place operations (P&L 1). The mark-to-market 10.9% cap rate, reflecting full occupancy at market rents, translates to a potential upside value of $817,301 at an 8.0% exit cap. Investors may achieve meaningful upside by gradually increasing rents toward market levels. All offers should include price, inspection timeline, terms, proof of funds, due diligence requirements, and relevant real estate experience.

FOR SALE DETAILS

PRICE

$600,000 USD

PRICE/SF

$600 USD /SF

# OF UNITS

1

PRICE/UNIT

$600,000

CAP RATE

10.11%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dorr Dr MHP

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,243 SF

ZONING

-

APN/PARCEL ID

540-170-15256

ASK ABOUT THIS PROPERTY

Cole BurchillMarcus & MillichapMore Info
919-674-1123

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Cole BurchillMarcus & MillichapMore Info
919-674-1123

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.