* Below-Market Rent
* Double-Wide Lots w/Parking
* Value-Add in Lease-up of Vacant Lots
* Boost to NOI w/Upcoming Rent Increase
As housing costs continue to rise in many areas, more individuals and families are seeking cost-effective living solutions. Reliance MH Park is an important provider of affordable housing in its Eastern Shore community.
Reliance is an all-ages manufactured home community in a peaceful and quiet setting on the DE/MD state line.
It features oversize home sites (all sites are double-wide), off-street parking and a children’s play area.
More importantly, it offers the value-add that investors seek, with upside for new owner to increase occupancy and get all tenants to market rent over time.
Occupancy upside is to boost current 81% rate to typical market demand rate of 95%. New ownership can beef up marketing to rent the remaining vacant sites as land leases or bring in homes to meet the stable market demand, including setting up a rent-to-own program.
As far as the rent upside, the owner has historically kept rent below market, so even with the most recent increase in April 2025 there’s still future rent growth potential. Average ground rent is about $40-50 below market rate. A rent increase is planned in 2026.