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Investment Overview

Rolling Hills MHP is an all age community located 20 minutes south of Ames, IA and 25 minutes north of the Des Moines, IA MSA. The property is zoned for 126 pads and currently has 81 developed sites, 42 undeveloped licensed sites, and the possibility of further expansion on the western side of the property. The property is currently served by public water and a private sewer lagoon. Lot rents at Rolling Hills are at a modest $320 with similar communities ranging from $400 - $580 per month. This offers new ownership the ability to raise lot rents to market over time for realistic and attainable equity. The property currently consists of 16 tenant owned homes, 16 park owned homes, 8 rent to own homes, 16 abandoned homes, and 3 resident RVs. Ownership pays for water, which is not billed back to the tenants. New ownership could bill back water to further decrease expenses. Contact Broker for Additional Details.

Lot/Home Count Overview

Tenant Owned Homes: 16 Occupied Park Owned Homes: 16 Rent to Own Homes: 8 RV Sites: 10 Abandoned Homes: 16 Vacant Pads: 15 Undeveloped Pads: 42 Total Tenant Occupied Sites: 43 Total: 123 Pads

Utilities

Currently the property is served by public water, and a three cell, gravity fed sewage lagoon. The lagoon permit was renewed in July of 2025 and will not need renewed again until 2030. Lagoon testing and compliance are currently handled by a third party operator from the Des Moines, IA area, offering an easy transition for future ownership. There is a possibility that the property can be connected to the City of Maxwell. No estimates or engineering plans for the connection have been obtained by the current ownership, but the city has stated that they are open to connecting the community to city sewer service. Contact Broker for Additional Details.

Streets and Infrastructure

Park roads are concrete, with a few sections needing to be repaired. Sewer lines are PVC and run beneath the middle of each home site. There is roughly a 100' run between each main line sewer connection.

Tenant vs. Landlord Expenses

Current ownership pays for water service and maintains the landscaping for the common areas. Tenants maintain their own lawns, and pay for trash, electric, and gas directly.

Park Use Buildings

The community also features a laundry building located on lot 76, a garage for park storage located on lot 87, and a large outbuilding for park storage.

Financial Analysis

The financial analysis for the current year is based on the seller's 2024 actual income and expenses. Year two assumes raising lot rents to $375 and improving collections. Year 3 assumes raising lot rents to $425, and Year 4 assumes raising lot rents to $450, with a 3% raise thereafter. The valuation does not include repairing the abandoned manufactured homes, or infill, allowing further upside potential for experienced operators looking to infill and/or expand the property.

Seller Financing Availalble

Current Ownership is willing to offer seller financing to qualified and experienced operators. The financial analysis assumes debt based on the below preferred seller financing terms. Down Payment: 30% Interest Rate: 5% Term: 5 Years Amortization: 30 years Contact Broker for Additional Details.

Maxwell, Iowa

Maxwell, Iowa is a community located 9 miles east of Interstate-35, between Ames and Des Moines. It is 20 miles from the center of Ames and 30 miles from the center of Des Moines. Many of the residents of Maxwell commute to either of the cities or their surrounding suburbs for work each morning.
Maxwell is a small community of about 1,000 residents. It is located in Story County, which has a population of 90,000, while the combined MSA populations of Ames and Des Moines is about 920,000 residents.
These MSAs have a variety of employers, to include: John Deere, Iowa State University, Principal Financial Group, Hy-Vee Grocers, and Casey's General Store.