Maple Street Mobile Home Park is a small, affordable community situated on approximately 0.68 acres in Baileyville, ME, near the US/Canada border. The park includes eight pads and a cottage. While the park’s age is unknown, it is zoned for mobile home use and is believed to be in compliance with local regulations. Notably, the park is not located in a flood zone. Currently, the owner manages the park remotely from out of state, and there is no on-site manager. However, the owner believes one of the tenants could serve well as a manager or greeter. Additionally, the park has a maintenance worker who, according to the seller, is likely to continue in that role. The pads in Maple Street Mobile Home Park are believed to measure approximately 50' x 70'. Currently, one vacant trailer is onsite and may need to be removed, depending on your business model. Of the eight pads in the park, four are occupied with rent-to-own (RTO) agreements, averaging $677.50 per month, which includes an average $380 monthly pad rental fee. Additionally, the property features a recently renovated cottage that rents for $895 per month. There are three vacant pads, with one ready to accept a trailer immediately, while the other two require some electrical work before becoming available. The park does not have titles to the trailers and they will be conveyed via a bill of sale. The park is not located in a flood zone. Rent was increased this year, and annual RTO leases are in place for all tenants. Importantly, all tenants are current with their rent payments, which are made via an online portal. Maple Street Mobile Home Park operates on city water and city sewer systems. The underground piping material is black plastic (ABS), and the electrical pedestals are 100 amps. The park has both electric and water meters for six of the pads, with one pad not currently metered. Water and sewer costs are back-billed to tenants by the park. Each resident has their own propane tank. The garbage is provided by the city. The gravel road through the park is considered to be in "good" condition by the current owner. Tenants are responsible for mowing their own spaces, while the park manages the mowing of vacant pads and common areas. Snow removal is handled by the park for the main road, but tenants are responsible for clearing their own driveways. The seller purchased Maple Street Mobile Home Park in December 2021 with the intention of revitalizing the community. The previous owner, who lived in the park, had kept rents artificially low, resulting in significant deferred maintenance on the five park-owned homes (POHs). As a condition of the sale, the previous owner requested to remain in the park for a period and did not want rents raised to market value during that time, fearing backlash from the tenants. This was agreed upon, and the new owner maintained below market rents while beginning necessary improvements to the property. Two tenants were evicted for non-payment during this period, resulting in a significant loss of income due to delays in evictions caused by COVID. Consequently, the P&L statements for 2022 and 2023 differ considerably from what is expected for 2024, now that the park has been mostly turned around. The remaining upside potential for this park lies in filling the three vacant lots. The trailers range in age from 1972 to 1985. Since purchasing the park, the following improvements have been made: •Water and sewer have been sub-metered using Metron remote read meters. •Some repairs have been made to the park-owned homes (now RTOs). •The single-family residence (SFR) has been renovated and rented. When asked if they were to continue to own/operate the park going forward, what items would they concentrate on improving? Owner response: "When I purchased the park, I had dreams of filling all of the vacant lots and continuing rent increases. I then purchased a much larger park that also needed a lot of work, and this one fell by the wayside." LOCATION: Baileyville is a small town in rural Washington County, Maine. According to the town's website they pride themselves on being family and business-friendly, with an excellent school system and a vibrant, growing community. Baileyville has its own police department, volunteer fire department, recreation department, transfer station, wastewater treatment plant, public library, water district, and public works department to serve the residents. The fall season is a busy one. Octoberfest is a much anticipated event, with a parade and fall-themed activities. In December they have a holiday parade and more activities to celebrate the season. Baileyville shares a border with Canada, and access to the Maritimes is only a short trip away. They also have a conveniently located industrial park near major highways Routes 1 and 9, and a small airport is within 4 miles. The Town of Baileyville is also a founding member of Downeast Broadband Utility, an organization dedicated to bringing community owned fiber optic broadband to the communities of eastern Maine. They have successfully completed the construction of fiber optic broadband to serve all residences and businesses within the Town. The median home cost in Baileyville is $113,600. Home appreciation the last 10 years has been 82.1%. Home Appreciation in Baileyville is up 20.6%. Renters make up 13.2% of the Baileyville population. The average one bedroom rental in Baileyville rents for $660/month. The average two bedroom rental in Baileyville rents for $870/month. The average three bedroom rental in Baileyville rents for $1,160/month. Baileyville has seen the job market decrease by -3.5% over the last year. Future job growth over the next ten years is predicted to be 26.7%, which is lower than the US average of 33.5%. The Median household income of a Baileyville resident is $40,694 a year. The US average is $69,021 a year. Baileyville public schools spend $14,434 per student. The average school expenditure in the U.S. is $12,383. There are about 8 students per teacher in Baileyville. Baileyville violent crime is 18.5. (The US average is 22.7) Baileyville property crime is 22.2. (The US average is 35.4) Baileyville is located approximately: 240 miles NW of Portland, ME 150 miles NE of Bangor, ME 275 miles NE of Manchester, NH 275 Miles NE of Nashua, NH