The Water's Edge mobile home park at 3036 Cranberry Highway was sold for $416,000 to Plymouth resident Malek Fares in an Internal Revenue Service auction on Friday, February 24.

The 1.4 acre property was previously owned by Henry M. Barry.

Barry owed the IRS $864,233 in unpaid federal income taxes and interest from the years 1998 to 2006, according to a court order filed in U.S. District Court in Boston on September 13, 2011.

The court order authorized the IRS to conduct a sale of the property to satisfy Barry's federal debts.

In addition to the taxes owed to the IRS, Barry owed more than $15,000 in taxes and fees to the Town of Wareham. As part of the purchase of the property, Fares was required to pay the money owed by Barry to Wareham.

The auction had a minimum bid of $100,000, with a required deposit of $50,000 made at the time of sale.

"I was interested because it [is] across the street from our gas station," said Fares, who owns Cape Cod Gas at 3037 Cranberry Highway.

Fares said that he would keep the property a mobile home park, but declined to comment on any possible changes in rent.

Residents own their mobile homes, but pay park fees to the owner of the land the home sits on.

Resident Judy Hyland, who has lived in the park for 26 years, said that if her rent goes up, she might move into the senior housing that she qualifies for since it would work out to be about the same price.

Water's Edge mobile home park consists of 21 mobile home units in addition to a single family house. The current value of the property is $531,700, according to assessment records.

The mobile home park is named Water's Edge because it lies on the southern shore of Dicks Pond.