27 SILVER ST Clinton ME 04927

BWE Investment Sales is pleased to present Evergreen Terrace, an 83-lot manufactured housing community located in Clinton, Maine — a quiet, established community conveniently positioned between the state capital of Augusta (30 minutes) and the college town of Waterville (15 minutes). The property sits within the Augusta-Waterville Micropolitan Statistical Area, Maine’s most populous micropolitan area with approximately 128,000 residents.

Evergreen Terrace is a well-maintained, majority tenant-owned community operating at 92% occupancy. The tenant mix includes 65 tenant-owned homes, 8 park-owned homes, and 3 rent-to-own units, with 7 vacant lots providing infill upside. The community features an average in-place lot rent of $594 per month with room for continued growth supported by strong regional demand for affordable housing and a constrained supply of competing manufactured housing communities in central Maine.

The property benefits from public water and sewer billed back to residents, curbside trash billed back, and electric and gas direct billed to tenants — resulting in minimal utility exposure for the owner. Road surfaces are asphalt with concrete driveways, and on-site amenities include boat, vehicle, and equipment storage available for monthly rent, providing an additional ancillary income stream.

Clinton’s proximity to major transportation routes, including Interstate 95 and state routes 11, 100, and 23, allows residents easy access to employment, healthcare, and retail services in Augusta and Waterville. The area’s largest employers — Maine General Medical Center and Colby College — provide a stable employment base, while the region’s median home price of approximately $281,200 creates a significant affordability barrier that drives sustained demand for manufactured housing.

With average 2-bedroom apartment rents in the area at approximately $1,300 per month and rising, Evergreen Terrace’s lot rent of $594 represents a more than 50% discount to conventional rental alternatives, ensuring long-term demand and occupancy stability.

Strategic Location Between Augusta & Waterville

Evergreen Terrace is situated in Clinton, half an hour from the state capital of Augusta and 15 minutes from Waterville. Its proximity to Interstate 95 and state routes 11, 100, and 23 provides residents with easy access to employment, healthcare, retail, and entertainment in larger neighboring cities. Major employers in the area include Maine General Medical Center (1,500+ employees) and Colby College (1,000+ employees).

Majority Tenant Owned Homes

Seventy-eight-percent of the community is comprised of tenant-owned homes (65 of 83 lots), resulting in a low-maintenance operating profile with minimal home management burden. Tenant-owned communities typically experience lower turnover and more stable, long-term occupancy.

Public Utilities Billed Back

Public water, sewer, and curbside trash are all billed back to tenants, while electric and gas are direct billed. This utility structure minimizes landlord exposure to rising utility costs and simplifies operations.

Infill Upside with 7 Vacant Lots

The community currently has 7 vacant lots available for infill, providing an immediate organic growth opportunity without entitlement risk. Filling these lots at current market rents would generate approximately $50,000+ in additional annual lot revenue.

Significant Affordability Advantage

At $594/month average lot rent, Evergreen Terrace offers housing at more than 50% below the area’s average 2-bedroom apartment rent of ~$1,300. With the micro area’s median home price at $281,200, manufactured housing fills a critical affordability gap for the region’s workforce.

POH & RTO Revenue Stream

8 occupied park-owned homes generating $676/month in home rent and 3 rent-to-own units at $363/month provide incremental revenue above lot rent, with the opportunity to convert additional homes to RTO or sell to tenants over time.

Ancillary Income

On-site boat, vehicle, and equipment storage is available for monthly rent, providing additional revenue beyond lot operations.

Stable, Recession-Resistant Market

The Augusta-Waterville micro area economy is anchored by government (state capital), healthcare, and education — sectors that are historically resilient through economic cycles.