Sussex Manor

Capstone Manufactured Housing is pleased to present Sussex Manor in Seaford, DE. This offering features 96-sites and is located along US-13 in the heart of Sussex County, which is the fastest-growing county in the fastest-growing state in the Mid-Atlantic Region. The county has seen a consistent growth rate for over 10 years and is an attractive location due to the temperate weather, landscapes, and low taxes. Rental competitors in the area boast average occupancies of 93%, and lot rents are approximately $55 higher than the subject community. Additionally, single family home prices in Sussex County average $442,000; thus, positioning Sussex Manor as a favorable housing alternative for residents in the immediate market. Current occupancy is 66%, with 5 vacant homes and 28 vacant pads. By employing an effective lease-up strategy, a new owner can significantly increase rental income. At current lot rents, ownership could realize over $175,000 in income growth by filling 20 sites and improving occupancy to 86%.

Investment Highlights:

Demand for Affordable Housing in the Immediate Area

Below-Market Rents

Upside in Filling Vacancy

Frontage Along US-13

Proximity to Salisbury MSA

Majority Resident-Owned Homes

Well-Kept Community