The Esterson MHC Team is pleased to present Dorr Dr MHP, located in Rutland, VT – a 100% tenant owned home, cash-flowing, manufactured housing community 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). There is one eviction pending, which will bring occupancy to 94% once tenant has vacated. 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 9.27% cap rate on in-place operations (P&L 1). The mark-to-market 10.8% cap rate, reflecting full occupancy at market rents, translates to a potential upside value of $813,356 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.

Broker Info:
Jeffrey R. Nick – NAI J.L. Davis Realty
29 Church Street, 3rd Floor, Burlington, VT 05401
Lic # 081.0000142
(802) 876-6923