I found Terrifier and its sequel to be pretty good for what it is. A violent modern take on the classic slasher movies. It's schlocky, but that's because slasher movies are a bit schlocky.
The actor does a great job hamming it up and making it all a bit more than a classic slasher, too, entertainment wise. If he tried to play it more serious scary clown style, it'd probably have faceplanted for me.