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Source page 1
EXECUTIVE SUMMARY
PLYMOUTH RUBBER IMPACT ANALYSES
Over the past few years, Canton Holdings, LLC, of Westmont, Illinois (the "Owner"), the owner
of the Plymouth Rubber site on Revere Street in Canton, has proposed zoning amendments for the
conversion of the now-defunct industrial use to a residential facility. These zoning amendments were
rejected by Town Meeting voters or withdrawn, generally because the impacts of the proposed change
— on traffic, drainage, school population, town finances, and town services were not sufficiently clear.
The Plymouth Rubber site consists of approximately 34 acres. It is bounded by Revere Street on
the east, the Canton River on the west and north, and Mill Pond on the south (the "Property"). The old
mill is currently in a state of disrepair. There are some environmental hot spots on the Property that will
require cleanup under the Department of Environmental Protection's Massachusetts Contingency Plan
("MCP") Program. Any reuse of the Property will also require expensive asbestos removal and the
demolition of some buildings.
In 2012, the Owner floated a new proposal. This residential complex would have a total of 348
dwelling units in the following components:
64 Townhouse (for sale) dwellings in 15 buildings (all 2 bedrooms)
204 Apartment Units (for rent) in 6 buildings (1 and 2 bedroom units)
80 Age Restricted Units (for sale or rent) in 2 buildings
In December of 2012, the Canton Board of Selectmen asked Attorney Mark Bobrowski, of Concord,
Massachusetts, to head a team of interdisciplinary professionals charged with investigating the impacts
of this 348 unit proposal (the 348 Unit Proposal).
Attorney Bobrowski, together with Canton officials including the Town Manager and a member
of the Board of Selectmen, Planning Board, and School Committee, identified several issues to be
included in this study, and consultants to perform the analyses. Thomas C. Houston, of Professional
Services Corporation, PC, Foxborough, was selected to perform an investigation of the traffic and civil
engineering impacts of the 348 Unit Proposal. Mr. Houston already serves as the consulting civil
engineer to the Zoning Board of Appeals and Planning Board. Michael H. Jacobs, of MHJ Associates,
Brookline, was chosen to perform a financial analysis of the 348 Unit Proposal. He was specifically asked
to review the Owner's financial projections and to verify that the Proposal was economically feasible.
Judi Barrett, the Director of Planning at Communities Opportunity Group, Inc., of Boston, was asked to
review the redevelopment of the Property for its potential impact on the Town's finances. She analyzed
projected tax revenue, municipal costs, the number of likely school aged children, and secondary effects
on the economy of the Canton downtown.
It is important to note that Attorney Bobrowski and the consultants worked for the Town, not
the Owner. They met extensively with the municipal staff. They reported to an ad hoc group of staff
members and officials. Their reports were intended to be analytical and unbiased. These reports,
attached hereto, should form the basis for making informed decisions about the fate of the 348 Unit
Proposal.
1Source page 2
To understand the impacts of the 348 Unit Proposal, these reports should be read in full. Here is
a summary of major findings:
Traffic and Pedestrian Safety
Traffic expected from the Project can be adequately addressed, if certain mitigation measures
are provided, which are outlined in the PSC Report.
PSC recommends that a pedestrian connection be established from the Property to the Canton
Junction Station. PSC also recommends a sidewalk connection to Washington Street.
Drainage and Flood Control
The Property has adequate space to accommodate the on-site mitigation of stormwater. The
redevelopment presents an opportunity to correct and maintain on-site water control mechanisms,
including the Canton River Dam and Diversion Channel, which are now the responsibility of the Town.
Water and Sewer
PSC recommends the installation of a new 12" water main on Revere Street from Washington
Street to Sherman Street (3700 feet) and the connection of existing users. PSC also recommends that
the Owner pay into a fund to remove inflow and infiltration (l&l) from the sewer system.
Affordable Dwelling Units
The Owner has committed to restricting 51 of the 204 apartment units (25%) to households
qualifying as moderate income under DHCD regulations. These units will be produced pursuant to G.L.
c. 40R, netting the Town a one-time payment of $962,000.00
Historic Buildings
The Owner has committed to saving the Revere Barn and the Rolling Mill.
Financial Analysis
Mr. Jacobs of MHJ Associates concluded that any redevelopment of the Property must include
an apartment component because it is the easiest to finance and construct in today's market. The
townhouse component of 68 units is also feasible in today's market. The 80 units of age restricted
housing are not currently feasible, but may be viable in tomorrow's economy.
In general, Mr. Jacobs finds that the 348 Unit Proposal represents a reasonable amount of
density for the site given the standards governing economic return on investment.
Town Finances
Judi Barrett estimates that the 348 Unit Proposal will generate $840,000-$891,000 in property
taxes each year. She also estimates that between 48 and 65 children can be expected to enroll in
Canton public schools. If the number of school children is at the low end, the project will have a
positive fiscal effect. If the number of school children is at the high end, the fiscal impact will fall slightly
into the negative.
2Source page 3
Downtown Economy
Ms. Barrett estimates that, on an ongoing basis, the 348 Unit Proposal will generate 150 short
term and 178 long term jobs, and result in an estimated $10 million spent on goods and services from
Canton businesses.
Conclusion
The Town must decide whether the 348 Unit Proposal is a good option for the redevelopment of
the Property. If Town officials decide to tentatively endorse this proposal and proceed to a vote, a
zoning amendment and a development agreement still have to be drafted. The inclusion of a Chapter
40R component means that the most likely timetable will be a vote at the Fall 2013 Town Meeting.
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PLYMOUTH RUBBER REDEVELOPMENT
FINANCIAL ANALYSIS
TOWN OF CANTON
March 25, 2013
Michael Jacobs
MHJ AssociatesSource page 5
Introduction
I have been asked by Attorney Mark Bobrowski to perform a peer review of the financial
projections prepared by Canton Holdings LLC and make a judgment as to the density needed to
make the project feasible. I have reviewed the three components of the project on the main site:
the 204-unit rental development, the 64-unit townhouse development and the 80-unit age restricted
condominium project. I have excluded the assisted living building across the street since it
requires specialized knowledge to evaluate a product which is an operating business rather than
traditional real estate.
The proponent has supplied a detailed breakdown of projected costs and revenues for the three
projects. Tom Houston has reviewed the projected site costs and I have reviewed the remaining
capital costs and revenues. While the proponent has supplied very detailed estimates that we don’t
typically see at this stage of the development process, I want to emphasize that they are based on
very preliminary plans and are best guesses at this point in time. Both Mr. Houston and I have thus
reviewed costs to make sure they fall into an acceptable range rather than validating pinpoint
accuracy.
While if approved, the redevelopment would not start for several years and would easily take five
years to complete and occupy, I have reviewed costs, sales and rents based on today’s prices.
Trying to predict the state of the local economy over the next several years is much too speculative
to be of value.
In order to evaluate the projections, one must both look at the individual components as well as
the total of all of the costs to make a reasonable judgment. This is particularly true of site-wide
costs such as site remediation, asbestos abatement and demolition which are proportionately
assigned to each project based on the percentage of total units that the component represents.
In speaking with the developer, he intends to phase the project in the following manner: (1) 204-
unit rental component; (2) 64-unit townhouse development; and (3) 80-unit age-restricted
condominium. I will follow that path in providing my analysis.
204-UNIT RENTAL DEVELOPMENT
The proposed rental project consists of six buildings containing 204 one and two bedrooms with a
1/3-2/3 split between them. There is parking for 184 garage spaces under the buildings as well as
surface parking. As part of the first phase of the project, the developer will also rehabilitate the
Revere Rolling Mill and Revere Barn for community use.
My analysis consists of two components: (1) A review of the capital costs; and (2) an analysis of
the proposed rent and operating expenses. Combining the two components enables me to project a
rate of return.
Capital Costs
Typically, the first component of a review is the acquisition cost. However, in the models
submitted, the proponent has omitted the line item because of his belief that it would impact a
1Source page 6
potential lender’s underwriting of the deal. A disbursement schedule supplied by the developer
documents a purchase price of $5,297,880. When applied against all of the units (including the
assisted living), the price per unit is $12,151. This is a more than reasonable price for a rental or
condominium project.
The problem is the high site premiums that must be added to the acquisition cost when evaluating
feasibility. First is the cost of demolition, asbestos abatement and site remediation. Estimates
supplied by consultants to the developer project a cost of $14,192 per unit. While a land value of
$26,000+ would not be an impediment to a project of this magnitude in a strong rental market, the
$23,000 per unit site estimate (confirmed as reasonable by Mr. Houston) is higher than many
larger rental projects than I’ve reviewed.
Most suburban rental developments try to avoid the cost of underground parking since it can add
$20-$25,000 per space. Since the only approach to meet reasonable parking ratios is to include this
amenity, one would expect to find a higher priced building than other comparable projects. While
a $126 per square foot excluding overhead, profit and general conditions seems high, most
projections would typically include a 5% construction contingency. When that is backed out of the
building cost, the base price per square foot drops to a shade under $120 per square foot. This
appears reasonable.
Soft costs of $22,113 appear more than reasonable. While there are some line items that appear
low (design fees, legal), other line items appear cushioned (a combination of construction loan
interest and rent-up losses). On 40B rental projects, state agencies typically look at a standard of
28% of construction cost as reasonable. Soft costs come in at slightly over 10% on this project.
The developer fee and overhead of $1.38 million is very reasonable, representing less than 3% of
total development costs. This is much lower than most projects I review.
Total development costs of $49.8 million or slightly over $244,000 per unit are reasonable. The
developer is assuming $42.5 million of financing which is equivalent to 85% of the total
development cost or approximately a 77% loan to value. The developer is expecting financing
from a life insurance company. While they provide very competitive interest rates, they typically
require loan to values of 70%. With the projected rents and operating expenses contained in the
pro forma, approximately $38.6 million could only be supported.
Operations
The proposed rents fall within the range of comparable projects. The projected one bedroom rent
falls within the achieved rents at the Windsor Woods project. The projected two bedroom rents
range between $1.80 and $1.90 per square foot. The equivalent units at Windsor Woods rent
between $1.56 and $1.97 per square foot. A breakdown of comparables reviewed can be found on
the next page.
2Source page 7
River Windsor Waterfall Norwest Norwood
Village Woods Hills Woods Gardens
1 Bedroom
$1675- $1495- $1460- $1495- $1275-
Rents 1735 1825 1590 1595 1565
Liv Area (Sq. Ft.) 860-894 731-759 682-900 805-849 725-850
2 Bedroom
$2150- $1915- $1845- $1525- $1495-
Rents 2300 2090 3300 1775 1810
Liv Area (Sq. Ft.) 1270-1370 1,171 1,225 1000-1150 1050-1300
W/D in unit x x Some x x
Fitness Ctr x x x x
Pool x x x x
H & HW x
Elevator x
Baths 2 1-2 1-2 1.5 2
The proposed operating expenses appear to be higher than needed in two areas. Property taxes,
which are projected at $1,876 per unit appear to be overestimated by approximately $300 per unit
per year. Replacement reserves that are used to fund capital needs over time are budgeted at
$1,980 per unit per year. This is more typically underwritten in the $250-$325 per unit range.
Based on the developer’s projections, the cash on cash return (cash flow over equity) would be
nearly 11%. The other two measures, Return on Total Cost and Internal Rate of Return are
respectively 6.7% and 16.8%1. Two of the three measures would more than satisfy any developer
taking on this project. When adjustments are made to the operating budget, the returns increase to
16% for the cash on cash return, nearly 7.5% for the return on cost and a 20.6% internal rate of
return. In addition, the project could now support the $42.5 million loan projected in the
developer’s pro forma.
Given the discussion on affordability and the developer’s willingness to include affordable units, I
have reviewed the projections assuming 25% of the apartments are reserved for households
earning no more than 80% of area median income.2 The reduced rents would require an additional
$3.8 million of equity and result in returns of; (1) 9.1% cash on cash, (20) 6.6% ROTC, and (3)
15.8% IRR. While the latter is slightly below the return that many investors would ideally expect,
a 9% cash on cash return would still be attractive to lenders and most investors.
1
Return on Total Cost compares the Net Operating Income (income after vacancies & operating expenses in the first
stabilized year to the total project cost. The Internal Rate of Return examines a series of cash inflows and outflows
over the life of an investment. Like the ROTC, this metric utilizes net operating income in its calculation to exclude
the impact of debt. It assumes the project is sold one year after achieving stabilization.
2
$45,500 for 1 person and $52,000 for two people.
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64-UNIT TOWNHOUSE DEVELOPMENT
The developer is proposing 64 two-bedroom units ranging in size from 1,347 square feet to 1,688
square feet. Suggested prices range from $343,485 ($255 per square foot) to $405,120 for the
largest unit ($240 per square foot).
Capital Costs
Like the rental development, the financial projection excludes the apportioned per unit cost of
$12,151 (slightly less than $778,000). The inclusion of this acquisition cost into the pro forma
would put the project at the minimum level that a construction lender would consider in this
climate.
The construction cost of $115 per square foot is very comparable to other townhouse projects I
have reviewed ($117 per square foot with general conditions included). The site costs are
apportioned based on the percentage of units in the entire project (excluding the assisted living)
and have been deemed reasonable. The common area amenities, like the site costs, are similarly
apportioned. Like the rental project, there does not appear to be a construction contingency
(typically 5% for new construction). If this was incorporated into the pro forma, it would have a
significant impact on the profitability.
On the whole, soft costs seem reasonable with two exceptions. Design fees represent less than 2%
of construction cost, which seems low. On the other hand, developer overhead of $960,000 seems
quite high for a 64 unit project. However, I consider this a result of the developer’s apportionment
process and not something I would necessarily adjust in determining the feasibility of the project.
For example, a significant portion of the overhead could be reallocated to the rental project which
has a very low fee given the size of the proposed development.
Sales
The pricing proposed in the pro forma will place these condominiums at the top of the market.
Over the last year, 19 two-bedroom townhouse condominiums constructed from 1995 to 2012
were sold in Canton. Prices ranged from a low of $230,000 for a 10-year old, 1,215 square foot
unit on Wall Street ($189 per square foot) to $380,000 for a 15-year old 1,933 square foot unit at
the 58-unit Paul Revere Village across from the site ($197 per square foot).
The average sales price for the townhouses was $309,192 and the average living area was 1,715
square feet. This translates into an average price per square foot of $183. This is compared to the
three unit types below:
No. of Price/Sq. Garage
Unit Type Units Living Area Sales Price
Ft. Spaces
2 BR/2.5BA 14 1,347 $343,485 $255 2
2 BR/2.5BA 31 1,606 $393,470 $245 1
2 BR/2.5BA 19 1,688 $405,120 $240 2
4Source page 9
While one would expect a boost in price because this is new construction, that 33 of the 64 units
will have two-car garages, and a unique amenity such as an indoor pool, the proposed standard
level of finishes included in the project description are at a lower level than many of the
comparables. Vinyl flooring and laminate countertops in kitchens and baths are below the finishes
provided in most of the reviewed sales. There is an allowance for kitchen appliances which
appears to indicate the absence of stainless steel appliances which are found in many of the
comparables (see appendix for a breakdown of comparables).
Given a significant increase in pricing for the proposed project over current sales, it appears that
the developer is using prices that he expects to receive when the townhouses are complete (which
will be after the first phase rental development). While the pricing will increase if the economy
continues to improve, construction costs will also rise. In order to compare “apples to apples,” the
snapshot must be taken today to avoid comparing the accuracy of different crystal balls. Looking
at today’s sales prices, I would thus discount the proposed pricing by between 5% and 10%.
How does this modification impact the project? Using the developer’s projections, sales would
exceed costs by nearly 33%. This is substantially above any minimum underwriting criteria a
lender would utilize. Making 5%-6% reductions would decrease the profit to slightly below 26%,
still above the minimum 20% that a construction lender would require. Lowering projected prices
by 10% would allow the project to meet the minimum underwriting profit threshold. At $216-$220
per square foot, these prices would still be higher than virtually any comparably sized
condominium sold in the last year.
If the town wanted to include 10% affordability into this component, the project would only be
clearly feasible if the developer could achieve the pricing that is proposed. A 5% sales adjustment
and 10% affordability on top of that would drop the projected profit slightly below 20%.
80 Active Adult Condominium Flats
The developer is proposing that 80 condominium flats in two buildings would be constructed in
the last phase of the project. 30% or 24 units would be 795 square foot one bedrooms and the
remaining 56 units would have two bedrooms and range in size from 1,191 to 1,330 square feet.
68 parking spaces would be available within the building plus surface parking.
The specific distribution of units is as follows:
Unit Type No. of Living Sales Price Price/Sq.
Units Area Ft.
1BR 1BA 24 795 $222,600 $280
2BR 2BA 8 1,191 $315,615 $265
2BR 2BA 16 1,237 $321,620 $260
2BR 2BA 32 1,330 $332,500 $250
Accepting the developer’s projections, the last component of this redevelopment appears to be
significantly infeasible. Sales are only 9.6% above cost which is well below any cushion that
would be acceptable to a construction lender. There are two other significant problems with the
plan: (1) the age restriction; and (2) the size of the units.
5Source page 10
Many municipal boards that granted permits to 55 and older projects over the last 5 years have
seen developers return with requests to eliminate the age restriction. When one looks at sales of
this product, it is easy to understand why this request is being made.
Over the last year, in Canton and six surrounding communities,3 there were five adult community
sales out of 392 condominium closings. Out 1,959 condominium sales in Norfolk County over that
same period, only 23 were sold in 55 and over communities. None of them were one bedroom
units.
Out of the 23 sales, there were two in elevator buildings: a 798 square foot two bedroom in
Dedham that sold for $310,000 ($263 per square foot) and a 1,258 square foot unit in Wellesley
that sold for $432,000 ($343 per square foot). Those two units plus an 854 square foot Stoughton
unit that sold for $160,000 were the only age-restricted condominiums under 1,759 square feet.
With the exception of the Dedham and Wellesley units, none of the remaining condominiums that
sold for $300,000 or above were less than 1,800 square feet.
While the two-bedroom Dedham sale provides a small glimmer of potential, it is hard to take
comfort with one comparable given the proposed unit sizes and pricing.
CONCLUSION
As you have seen from this report, the first two phases are financially feasible while the age-
restricted component will probably have trouble attracting construction lenders unless the current
trend away from age-restricted ownership housing is reversed. While there will most likely be
different market dynamics five years from now, it is difficult to draw any different conclusions
about the potential success of the 80-unit component.
I believe that the number of units proposed in the rental and townhouse developments are
reasonable to provide a potentially feasible project. If a 30-unit rental building or a 4-unit
townhouse building (assuming a 10% reduction in sales prices) were eliminated from the site plan,
the projects would be difficult to finance.
The strongest component of the planned redevelopment is the rental development. There has been
a large demand for apartments in eastern Massachusetts and there is ample financing available.
While the market has not fully returned for ownership projects, there is a strong indication that it
is going in the right direction as evidenced by a reduction in the Commonwealth’s condominium
inventory. While in September of 2008, there was nearly a ten month supply of condominiums
(9.8), there has been a steady decrease through 2012 and into 2013 that has reduced the inventory
to 4.7 months.
There is still no indication that the market for over 55 housing has returned. While there have been
age-targeted developments geared towards this population that have been successful, age-
restricted housing has not rebounded. If there is no development on this parcel, it is likely that the
estimated $700,000 of Army Corps of Engineer work that is part of the Neponset River Flood
3
Dedham, Milton, Norwood, Randolph, Sharon, Stoughton, Walpole
6Source page 11
Damage Reduction System will not be part of the redevelopment. The town will need to take this
into account as it considers how to address the last phase of the project.
I will be happy to respond to specific questions concerning my analysis and conclusions at the
next public hearing.
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APPENDIX BASE RENTAL PRO FORMA ADJUSTED RENTAL PRO FORMA ADJUSTED RENTAL PRO FORMA WITH 25% AFFORDABILITY BASE TOWNHOUSE PRO FORMA ADJUSTED TOWNHOUSE PRO FORMA ADJUSTED TOWNHOUSE PRO FORMA WITH 10% AFFORDABILITY AGE-RESTRICTED CONDOMINIUM PRO FORMA CANTON TOWNHOUSE SALES—LAST 12 MONTHS NORFOLK COUNTY—ACTIVE ADULT/55+ SALES—LAST 12 MONTHS
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Plymouth Rubber Rental 3/6/2013 No Acquisiton % OF AVG TOTAL ANNUAL MONTHLY NET RENT Mo. RENT UNITS TOTAL NSF SF TOTAL TOTAL (LESS UTIL RENT PER S.F. UNIT DESCRIPTION ALLOW) 1BR 1 BA Market 66 32.35% 795 52,470 $1,322,244 $110,187 $1,670 $1,669.50 $2.10 2 BR 2BA_ Market 22 10.78% 1,191 26,202 $597,406 $49,784 $2,263 $2,262.90 $1.90 2 BR 2BA_ Market 28 13.73% 1,237 34,636 $768,919 $64,077 $2,288 $2,288.45 $1.85 2 BR 2BA_ Market 88 43.14% 1,330 117,040 $2,528,064 $210,672 $2,394 $2,394.00 $1.80 204 NSF= 230,348 $5,216,633 $434,719 $2,130.98 $1.89 PCTGE AFFORDABLE 0.00% 0 0.00% Clubhouse 0 OTHER INCOME $35.00 204 — Efficiency 82.1% $85,680 OTHER INCOME $0.00 0 GSF= 271,500 $0 OTHER-INCOME- $0 0 $0 GROSS POTENTIAL INCOME $5,302,313 VACANCY Market 5.00% ($265,116) Affordable 5.00% Other Income 5.00% EFFECTIVE RENTAL INCOME $5,037,197 ANNUAL MONTLY PERUNIT PER GSF OPERATING EXPENSES TOTAL TOTAL ANNUAL ANNUAL MANAGEMENT FEE 3.21% $161,568 $13,464 $792 $0.60 ADMINISTRATION $195,330 $16,278 $958 $0.72 MARKETING $79,560 $6,630 $390 $0.29 MAINTENANCE Pesos closer to | $281,289 $23,441 $1,379 $1.04 UTILITIES $1550perunit | $84,946 $7,079 $416 $0.31 INSURANCE $81,214 $6,768-__ $398, $0.30 REAL ESTATE TAXES $382,622 $31,885 $1,876 $1.41 ROLLING MILL CLUBHOUSE FEES $58,752 $4,896 $288 $0.22 REPLACEMENT RESERVE $403,920 $33,660 $1,980 *—~$1.49 TOTAL OPERATING EXPENSES $1,729,201 $144,100 $8,476 $6.37 —~__ EXPENSES AS A PERCENTAGE OF INCOME 34.33% Should be no more NET OPERATING INCOME $3,307,996 than $325 | OTHER ASSUMPTIONS TV OBR 30.00 MARKET RATE INFLATION 2.50% ALLOW. 1 BR $0.00 AFFORDABLE INFLATION 2.50% 2 BR $0.00 OPERATING EXPENSE INFLATION 3.00% 3 BR $0.00
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9.2% Plymouth Rubber Rental No Acquisiton 3/6/2013 DEVELOPMENT BUDGET BUDGET DETAIL _ USES TOTAL COST COSTPERUNIT COSTPERG.S.F. ACQUISITION $0 LEGAL $93,840 ACQUISITION COSTS $0 $0 $0.00 BUILDING COST $0 ORGANIZATIONAL $0 $14,192 LAND COST _ acres: 0 #DIV/O! $0 PERMITTING $0 CONSTRUCTION COSTS $43,940,580 $215,395 $161.84 | GROUND LEASE $0 FINANCING $0 (including Garage) $34,170,000 $167,500 $125.86 ADDITIONAL PAYMENTS $0 OTHER $93,840 DEMO & ASBESTOS ABATEMENT $1,956,768 $9,592 $7.21 BROKERAGE COSTS $0 SITEWORK $4,692,000 $23,000 $17.28 CONSTRUCTION COSTS $161.84 $43,940,580 | MARKETING $0 SITE REMEDIATION $938,400 $4,600 $3.46 RESIDENTIAL BUILDING gst: 271,500 «$123.00 $33,395,000 = STAFF $0 LANDSCAPING $479,808 $2,352 $1.77 DEMOLITION $3,792 $2.85 $773,568 COLLATERALS $0 UTILITIES $469,404 $2,301 $1.73 ASBESTOS ABATEMENT $5,800 $4.36 $1,183,200 ADVERTISING $0 COMMUNITY SPACE $448,800 $2,200 $1.65 SITEWORK $23,000 $17.28 ‘$4,692,000 ~~ RENT CONCESSIONS $0 OTHER $0 $0 $0.00 SITE REMEDIATION $4,600 $3.46 $938,400 ~~ LOTTERY $0 OVERHEAD, PROFIT & GEN COND $785,400 $3,850 $2.89 LANDSCAPING $2,352 $1.77 $479,808 CONTINGENCY $0 $0 $0.00 UTILITIES $2,301 $1.73 $469,404 FF&E $0 COMMUNITY SPACE $2,200 $1.65 $448,800 MODEL UNIT $0 SOFT COSTS $4,041,852 $19,813 $14.89 GARAGE $2.85 31 $25,000 —«$775,000 +~—-s CLUBHOUSE FURNITURE $0 PERMITS AND FEES $1,235,016 $6,054 $4.55 OTHER $0.00 $0 OTHER FURNT + EQUIPM™ $0 SURVEY/TESTING $0 $0 $0.00 OHIPROFITIGENCOND $289 «1.8% $785,400 OTHER $0 ARCHITECTURE & ENGINEERING $742,764 $3,641 $2.74 CONTINGENCY 0.0% $0 CONSTRUCTION/BRIDGE LOAN LEGAL $93,840 $460 $0.35 PERMITS AND FEES $1,235,016 LOANAMT $42,500,000 TITLE & RECORDING $0 $0 $0.00 BUILDING PERMIT 1.1% $0 $429,172 — LOANINTEREST 2.61% BUILDERS RISK INSURANCE $0 $0 $0.00 WATER FEES $0 $214,200 LOAN FEES 0.00% PROPERTY TAXES $0 $0 $0.00 SEWER FEES $1,050 $214,200 += AVG BALANCE 50.0% ACCOUNTING/BOOKKEEPING $85,068 $417 $0.31 lal $0 $150,480 + TERM (MOS) 18 MARKETING $0 $0 $0.00 OTHER PERMITS $226,964 OTHER COSTS(Legal) $0 FURNITURE, FIXTURES & EQUIPMEN1 $0 $0 $0.00 ARCHITECTURE & ENGINEERING 1.7% $742,764 INSPECTING ENGINEER $0 $0 $0.00 ARCHITECTURE & ENGINEERING $416,568 PERMANENT FINANCING FEES $122,400 $600 $0.45 CIVIL ENGINEERING/GEOTECH $326,196 PERMANENT LOAN OTHER $0 $0 $0.00 OTHER $0 MAXLOANAMT $42,507,751 CONSTRUCTION LOAN FEES $0 $0 $0.00 ENG FEASIBILITY STUDIES $0 LOAN AMT $42,500,000 CONSTRUCTION LOAN INTEREST $831,912 $4,078 $3.06 PRELIM GRADING AND DRAINAGE, PLAN & SPEC REVIEV $0 LOAN TO VALUE aah REZONING $441,252 $2,163 $1.63 INTERIOR DESIGN $0. CAPRATE 9 6.00% BOND PREMIUM 0.00% $0 $0 $0.00 SURVEY/TESTING $0 DEBT SERVICE CVGE 1.25 APPRAISAL/MARKET STUDY $20,400 $100 $0.08 ALTA/SURVEY/TOPOGRAPHY : ea. —~ INTEREST RATE 4.25% START-UP LOSSES $469,200 $2,300 $1.73 WETLANDS righ loan to value: AMORTIZATION 30.00 SOFT COST CONTINGENCY $0 $0 $0.00 ENVIRONMENTAL typical loan no LOAN CONSTANT 0.059033 TRAFFIC eee OTHER: LENDER LEGAL $30,000 DEVELOPER FEE/OVERHE) 2.87% $1,377,000 $6,750 $5.07 GEOTECH ov ADMIN FEE 0.0% CONSULTANTS $0 FINANCING FEES 0.22% CAPITALIZED RESERVES $0 $0 $0.00 FISCAL IMPACT/NOISE $0 CONS INSP FEE 0.0% GROUNDWATER TEST $0 MORTG INSUR PREM 0.000% TOTAL DEVELOPMENT COSTS $49,359,432 $241,958 $181.80 MATERIAL TESTING $0 $0 OTHER SOURCES $49,359,432 $241,958 INSURANCE 0.00% MORTGAGE LOAN $42,500,000 $208,333 TAX RATE 0.01165 DEVELOPER FEE CONTRIBUTED $0 $0 0 SOFT COST CONTING 0.0% TAX CREDIT EQUITY $0 $0 OTHER $0 $0 CASH EQUITY $6,859,432 $33,625
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Plymouth Rubber Rental No Acquisiton 3/6/2013 1 2 3 4 5 6 7 8 9 10 AFFORDABLE RENTAL INCOME $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 MARKET RENTAL INCOME $5,216,633 $5,347,049 $5,480,725 $5,617,743 $5,758,187 $5,902,141 $6,049,695 $6,200,937 $6,355,961 $6,514,860 GROSS POTENTIAL INCOME $5,216,633 $5,347,049 $5,480,725 $5,617,743 $5,758,187 $5,902,141 $6,049,695 $6,200,937 $6,355,961 $6,514,860 OTHER INCOME $85,680 $87,822 $90,018 $92,268 $94,575 $96,939 $99,363 $101,847 $104,393 $107,003 LESS VACANCY ($265,116) ($271,744) ($278,537) ($285,501) ($292,638) ($299,954) ($307,453) ($315,139) ($323,018) ($331,093) EFFECTIVE RENTAL INCOME $5,037,197 $5,163,127 $5,292,205 $5,424,510 $5,560,123 $5,699,126 $5,841,604 $5,987,645 $6,137,336 $6,290,769 OPERATING EXPENSES MANAGEMENT FEE $161,568 $206,525 $211,688 $216,980 $222,405 $227,965 $233,664 $239,506 $245,493 $251,631 ADMINISTRATION $195,330 $201,190 $207,226 $213,442 $219,846 $226,441 $233,234 $240,231 $247,438 $254,861 MARKETING $79,560 $81,947 $84,405 $86,937 $89,545 $92,232 $94,999 $97,849 $100,784 $103,808 MAINTENANCE $281,289 $289,728 $298,419 $307,372 $316,593 $326,091 $335,874 $345,950 $356,328 $367,018 UTILITIES $84,946 $87,494 $90,119 $92,823 $95,607 $98,476 $101,430 $104,473 $107,607 $110,835 INSURANCE $81,214 $83,650 $86,160 $88,745 $91,407 $94,149 $96,974 $99,883 $102,879 $105,966 REAL ESTATE TAXES $382,622 $394,101 $405,924 $418,101 $430,644 $443,564 $456,871 $470,577 $484,694 $499,235 ROLLING MILL CLUBHOUSE FEES $58,752 $60,515 $62,330 $64,200 $66,126 $68,110 $70,153 $72,258 $74,425 $76,658 REPLACEMENT RESERVE $403,920 $416,038 $428,519 $441,374 $454,616 $468,254 $482,302 $496,771 $511,674 $527,024 TOTAL OPERATING EXPENSES $1,729,201 $1,821,187 $1,874,790 $1,929,975 $1,986,790 $2,045,281 $2,105,500 $2,167,497 $2,231,324 $2,297,036 NET OPERATING INCOME $3,307,996 $3,341,940 $3,417,415 $3,494,535 $3,573,333 $3,653,845 $3,736,104 $3,820,148 $3,906,012 $3,993,733 DEBT SERVICE $2,508,893 $2,508,893 $2,508,893 $2,508,893 $2,508,893 $2,508,893 $2,508,893 $2,508,893 $2,508,893 $2,508,893 CASH FLOW $799,103 $833,047 $908,522 $985,642 $1,064,440 $1,144,951 $1,227,211 $1,311,254 $1,397,118 $1,484,839 DEBT SERVICE COVERAGE 1.32 1.33 1.36 1.39 1.42 1.46 1.49 1.52 1.56 1.59 EQUITY $6,859,432 CASH ON CASH RETURN 11.6% 12.1% 13.2% 14.4% 15.5% 16.7% 17.9% 19.1% 20.4% 21.6% RETURN ON COST 6.7% 6.77% 6.92% 7.08% 7.24% 7.40% 757% 7.74% 7.91% 8.09% |IRR 16.8%
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Plymouth Rubber Rental-Adjusted 3/4/2013 No Acquisiton % OF AVG TOTAL ANNUAL MONTHLY NET RENT MO. RENT UNITS TOTAL NSF SF TOTAL TOTAL (LESS UTIL RENT PERS.F. UNIT DESCRIPTION ALLOW) 1 BR 1 BA Market 66 32.35% 795 52,470 $1,322,244 $110,187 $1,670 $1,669.50 $2.10 2BR 2 BA Market 22 10.78% 1,191 26,202 $597,406 $49,784 $2,263 $2,262.90 $1.90 2BR 2BA_ Market 28 13.73% 1,237 34,636 $768,919 $64,077 $2,288 $2,288.45 $1.85 2BR 2BA_ Market 88 43.14% 1,330 117,040 $2,528,064 $210,672 $2,394 $2,394.00 $1.80 204 NSF= 230,348 $5,216,633 $434,719 $2,130.98 $1.89 PCTGE AFFORDABLE 0.00% 0 0.00% Clubhouse 0 OTHER INCOME $35.00 204 Efficiency 82.1% $85,680 OTHER INCOME $0.00 0 GSF= 271,500 $0 OTHER-INCOME- $0 0 $0 GROSS POTENTIAL INCOME $5,302,313 VACANCY Market 5.00% ($265,116) Affordable 5.00% Other Income 5.00% EFFECTIVE RENTAL INCOME $5,037,197 ANNUAL MONTLY PERUNIT PER GSF OPERATING EXPENSES TOTAL TOTAL ANNUAL ANNUAL MANAGEMENT FEE 3.21% $161,568 $13,464 $792 $0.60 ADMINISTRATION $195,330 $16,278 $958 $0.72 MARKETING $79,560 $6,630 $390 $0.29 MAINTENANCE [Reaueed to #1563) $281,289 $23,441 $1,379 $1.04 UTILITIES ____ $84,946 $7,079 $416 $0.31 INSURANCE $81,21 4 $6,768 —__ $398 $0.30 REAL ESTATE TAXES $318,852 $26,571 $1,563 $1.17 ROLLING MILL CLUBHOUSE FEES $58,752 $4,896 $288 $0.22 REPLACEMENT RESERVE $66,300 $5,525 $325 *— $0.24 TOTAL OPERATING EXPENSES $1,327,811 $110,651 $6,509 $4.89 —~ EXPENSES AS A PERCENTAGE OF INCOME 26.36% Reduced to $325 per NET OPERATING INCOME $3,709,386 unit | OTHER ASSUMPTIONS TILT OBR 30.00 MARKET RATE INFLATION 2.50% ALLOW. 1 BR $0.00 AFFORDABLE INFLATION 2.50% 2BR $0.00 OPERATING EXPENSE INFLATION 3.00% 3 BR $0.00
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Plymouth Rubber Rental-Adjusted No Acquisiton 3/4/2013 DEVELOPMENT BUDGET BUDGET DETAIL _ USES TOTAL COST COST PER UNIT COST PERG.S.F. ACQUISITION $0 LEGAL $93,840 ACQUISITION COSTS $0 $0 $0.00 BUILDING COST $0 ORGANIZATIONAL $0 LAND COST acres: oO #DIV/O! $0 PERMITTING $0 CONSTRUCTION COSTS $43,940,580 $215,395 $161.84 GROUND LEASE $0 FINANCING $0 RESIDENTIAL (including garage) $34,170,000 $167,500 $125.86 ADDITIONAL PAYMENTS, $0 OTHER $93,840 DEMO & ASBESTOS ABATEMENT $1,956,768 $9,592 $7.21 BROKERAGE COSTS $0 SITEWORK $4,692,000 $23,000 $17.28 CONSTRUCTION COSTS $161.84 $43,940,580 MARKETING $0 SITE REMEDIATION $938,400 $4,600 $3.46 RESIDENTIAL BUILDING gsf: 271,500 $123.00 $33,395,000 STAFF $0 LANDSCAPING $479,808 $2,352 $1.77 DEMOLITION $3,792 $2.85 $773,568 COLLATERALS $0 UTILITIES $469,404 $2,301 $1.73 ASBESTOS ABATEMENT $5,800 $4.36 $1,183,200 ADVERTISING $0 COMMUNITY SPACE $448,800 $2,200 $1.65 SITEWORK $23,000 $17.28 $4,692,000 RENT CONCESSIONS $0 OTHER $0 $0 $0.00 SITE REMEDIATION $4,600 $3.46 $938,400 LOTTERY $0 OVERHEAD, PROFIT & GEN COND $785,400 $3,850 $2.89 LANDSCAPING $2,352 $1.77 $479,808 CONTINGENCY $0 $0 $0.00 UTILITIES $2,301 $1.73 $469,404 FF&E $0 COMMUNITY SPACE $2,200 $1.65 $448,800 MODEL UNIT $0 SOFT COSTS $4,511,052 $22,113 $16.62 GARAGE 31 $25,000 $775,000 CLUBHOUSE FURNITURE $0 PERMITS AND FEES $1,235,016 $6,054 $4.55 OTHER $0.00 $0 OTHER FURNT + EQUIPM” $0 SURVEY/TESTING $0 $0 $0.00 OVERHEAD/PROFIT/GEN COND 1.8% $785,400 OTHER $0 ARCHITECTURE & ENGINEERING $742,764 $3,641 $2.74 CONTINGENCY 0.0% $0 CONSTRUCTION/BRIDGE LOAN LEGAL $93,840 $460 $0.35 PERMITS AND FEES $1,235,016 LOAN AMT $42,500,000 TITLE & RECORDING $0 $0 $0.00 BUILDING PERMIT 1.1% $0 $429,172 LOAN INTEREST 2.61% BUILDERS RISK INSURANCE $0 $0 $0.00 WATER FEES $0 $214,200 LOAN FEES 0.00% PROPERTY TAXES $0 $0 $0.00 SEWER FEES $1,050 $214,200 AVG BALANCE 50.0% ACCOUNTING/BOOKKEEPING $85,068 $417 $0.31 lal $0 $150,480 TERM (MOS) 18 MARKETING $0 $0 $0.00 OTHER PERMITS $226,964 OTHER COSTS(Legal) $0 FURNITURE, FIXTURES & EQUIPMEN1 $0 $0 $0.00 ARCHITECTURE & ENGINEERING 1.7% $742,764 INSPECTING ENGINEER $0 $0 $0.00 ARCHITECTURE & ENGINEERING $416,568 PERMANENT FINANCING FEES $122,400 $600 $0.45 CIVIL ENGINEERING/GEOTECH $326,196 PERMANENT LOAN RENT-UP LOSSES $469,200 $2,300 $1.73 OTHER $0 MAX LOAN AMT $43,276,172 CONSTRUCTION LOAN FEES $0 $0 $0.00 ENG FEASIBILITY STUDIES $0 LOAN AMT $42,500,000 CONSTRUCTION LOAN INTEREST $831,912 $4,078 $3.06 PRELIM GRADING AND DRAINAGE, PLAN & SPEC REVI $0 LOAN TO VALUE 70.0% REZONING $441,252 $2,163 $1.63 INTERIOR DESIGN $0 CAP RATE 6.00% BOND PREMIUM 0.00% $0 $0 $0.00 SURVEY/TESTING $0 DEBT SERVICE CVGE 1.25 APPRAISAL/MARKET STUDY $20,400 $100 $0.08 ALTA/SURVEY/TOPOGRAPHY $0 INTEREST RATE 4.25% START-UP LOSSES $469,200 $2,300 $1.73 WETLANDS $0 AMORTIZATION 30.00 SOFT COST CONTINGENCY $0 $0 $0.00 ENVIRONMENTAL $0 LOAN CONSTANT 0.059033 TRAFFIC. $0 OTHER: LENDER LEGAL $30,000 DEVELOPER FEE/OVERHE/ 2.84% $1,377,000 $6,750 $5.07 GEOTECH $0 ADMIN FEE 0.0% CONSULTANTS $0 FINANCING FEES 0.22% CAPITALIZED RESERVES $0 $0 $0.00 FISCAL IMPACT/NOISE $0 CONS INSP FEE 0.0% GROUNDWATER TEST $0 MORTG INSUR PREM 0.000% TOTAL DEVELOPMENT COSTS $49,828,632 $244,258 $183.53 MATERIAL TESTING $0 $0 OTHER SOURCES $49,828,632 $244,258 INSURANCE 0.00% MORTGAGE LOAN $42,500,000 $208,333 TAX RATE 0.01165 DEVELOPER FEE CONTRIBUTED $0 $0 0 SOFT COST CONTING 0.0% TAX CREDIT EQUITY $0 $0 OTHER $0 $0 CASH EQUITY $7,328,632 $35,925
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Plymouth Rubber Rental-Adjusted No Acquisiton 3/4/2013 1 2 3 4 5 6 7 8 9 10 AFFORDABLE RENTAL INCOME $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 MARKET RENTAL INCOME $5,216,633 $5,347,049 $5,480,725 $5,617,743 $5,758,187 $5,902,141 $6,049,695 $6,200,937 $6,355,961 $6,514,860 GROSS POTENTIAL INCOME $5,216,633 $5,347,049 $5,480,725 $5,617,743 $5,758,187 $5,902,141 $6,049,695 $6,200,937 $6,355,961 $6,514,860 OTHER INCOME $85,680 $87,822 $90,018 $92,268 $94,575 $96,939 $99,363 $101,847 $104,393 $107,003 LESS VACANCY ($265,116) ($271,744) ($278,537) ($285,501) ($292,638) ($299,954) ($307,453) ($315,139) ($323,018) ($331,093) EFFECTIVE RENTAL INCOME $5,037,197 $5,163,127 $5,292,205 $5,424,510 $5,560,123 $5,699,126 $5,841,604 $5,987,645 $6,137,336 $6,290,769 OPERATING EXPENSES MANAGEMENT FEE $161,568 $206,525 $211,688 $216,980 $222,405 $227,965 $233,664 $239,506 $245,493 $251,631 ADMINISTRATION $195,330 $201,190 $207,226 $213,442 $219,846 $226,441 $233,234 $240,231 $247,438 $254,861 MARKETING $79,560 $81,947 $84,405 $86,937 $89,545 $92,232 $94,999 $97,849 $100,784 $103,808 MAINTENANCE $281,289 $289,728 $298,419 $307,372 $316,593 $326,091 $335,874 $345,950 $356,328 $367,018 UTILITIES $84,946 $87,494 $90,119 $92,823 $95,607 $98,476 $101,430 $104,473 $107,607 $110,835 INSURANCE $81,214 $83,650 $86,160 $88,745 $91,407 $94,149 $96,974 $99,883 $102,879 $105,966 REAL ESTATE TAXES $318,852 $328,418 $338,270 $348,418 $358,871 $369,637 $380,726 $392,148 $403,912 $416,030 ROLLING MILL CLUBHOUSE FEES $58,752 $60,515 $62,330 $64,200 $66,126 $68,110 $70,153 $72,258 $74,425 $76,658 REPLACEMENT RESERVE $66,300 $68,289 $70,338 $72,448 $74,621 $76,860 $79,166 $81,541 $83,987 $86,506 TOTAL OPERATING EXPENSES $1,327,811 $1,407,755 $1,448,955 $1,491,366 $1,535,022 $1,579,960 $1,626,219 $1,673,838 $1,722,855 $1,773,313 NET OPERATING INCOME $3,709,386 $3,755,372 $3,843,250 $3,933,145 $4,025,101 $4,119,166 $4,215,385 $4,313,807 $4,414,480 $4,517,456 DEBT SERVICE $2,508,893 $2,508,893 $2,508,893 $2,508,893 $2,508,893 $2,508,893 $2,508,893 $2,508,893 $2,508,893 $2,508,893 CASH FLOW $1,200,493 $1,246,478 $1,334,356 $1,424,251 $1,516,208 $1,610,272 $1,706,492 $1,804,913 $1,905,587 $2,008,562 DEBT SERVICE COVERAGE 1.48 1.50 1.53 1.57 1.60 1.64 1.68 1.72 1.76 1.80 EQUITY $7,328,632 CASH ON CASH RETURN 16.4% 17.0% 18.2% 19.4% 20.7% 22.0% 23.3% 24.6% 26.0% 27.4% RETURN ON COST 7.4% 7.54% 7.1% 7.89% 8.08% 8.27% 8.46% 8.66% 8.86% 9.07% |IRR 20.6%|
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Plymouth Rubber Rental Adjusted-25% Affordable 3/6/2013 No Acquisiton % OF AVG TOTAL ANNUAL MONTHLY NET RENT Mo. RENT UNITS) TOTAL NSF SF TOTAL TOTAL (LESS UTIL RENT PER S.F. UNIT DESCRIPTION ALLOW) 1 BR 1 BA Market 50 24.51% 795 39,750 $1,001,700 $83,475 $1,670 $1,669.50 $2.10 2 BR 2 BA Market 16 7.84% 1,191 19,056 $434,477 $36,206 $2,263 $2,262.90 $1.90 2 BR 2 BA Market 21 10.29% 1,237 25,977 $576,689 $48,057 $2,288 $2,288.45 $1.85 2 BR 2 BA Market 66 32.35% 1,330 87,780 $1,896,048 $158,004 $2,394 $2,394.00 $1.80 1 BR 1 BA Affordable-80% 16 7.84% 795 12,720 $227,712 $18,976 $1,186 $1,263.00 $1.59 2 BR 2 BA Affordable-80% 6 2.94% 1,191 7,146 $102,312 $8,526 $1,421 $1,516.00 $1.27 2 BR 2 BA _ Affordable-80% 7 3.438% 1,237 8,659 $119,364 $9,947 $1,421 $1,516.00 $1.23 2 BR 2 BA Affordable-80% 22 10.78% 1,330 29,260 $375,144 $31,262 $1,421 $1,516.00 $1.14 204 NSF= 230,348 $4,733,446 $394,454 $1,933.60 $1.71 PCTGE AFFORDABLE 25.00% 51 25.09% Clubhouse 0 OTHER INCOME $35.00 204 Efficiency 82.1% $85,680 OTHER INCOME $0.00 0 GSF= 271,500 $0 OTHER-INCOME- $0 0 $0 GROSS POTENTIAL INCOME $4,819,126 VACANCY Market 5.00% ($240,956) Affordable 5.00% Other Income 5.00% EFFECTIVE RENTAL INCOME $4,578,170 ANNUAL MONTLY PER UNIT PER GSF OPERATING EXPENSES TOTAL TOTAL ANNUAL ANNUAL MANAGEMENT FEE 3.21% $146,845 $12,237 $720 $0.54 ADMINISTRATION $195,330 $16,278 $958 $0.72 MARKETING $79,560 $6,630 $390 $0.29 MAINTENANCE $281,289 $23,441 $1,379 $1.04 UTILITIES $84,946 $7,079 $416 $0.31 INSURANCE $81,214 $6,768 $398 $0.30 REAL ESTATE TAXES $318,852 $26,571 $1,563 $1.17 ROLLING MILL CLUBHOUSE FEES $58,752 $4,896 $288 $0.22 REPLACEMENT RESERVE $66,300 $5,525 $325 $0.24 TOTAL OPERATING EXPENSES $1,313,088 $109,424 $6,437 $4.84 EXPENSES AS A PERCENTAGE OF INCOME 28.68% NET OPERATING INCOME $3,265,082 OTHER ASSUMPTIONS UTILITY 0 BR $0.00 MARKET RATE INFLATION 2.50% ALLOW. 1 BR $77.00 AFFORDABLE INFLATION 2.50% 2 BR $95.00 OPERATING EXPENSE INFLATION 3.00% 3 BR $0.00
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Plymouth Rubber Rental Adjusted-25% Affordable 3/6/2013 DEVELOPMENT BUDGET BUDGET DETAIL _ USES TOTAL COST COST PER UNIT COST PERG.S.F. ACQUISITION $0 LEGAL $93,840 ACQUISITION COSTS $0 $0 $0.00 BUILDING COST $0 ORGANIZATIONAL $0 LAND COST acres: 0 #DIV/O! $0 PERMITTING $0 CONSTRUCTION COSTS $43,940,580 $215,395 $161.84 GROUND LEASE $0 FINANCING $0 RESIDENTIAL (including garage) $34,170,000 $167,500 $125.86 ADDITIONAL PAYMENTS, $0 OTHER $93,840 DEMO & ASBESTOS ABATEMENT $1,956,768 $9,592 $7.21 BROKERAGE COSTS $0 SITEWORK $4,692,000 $23,000 $17.28 CONSTRUCTION COSTS $161.84 $43,940,580 MARKETING $0 SITE REMEDIATION $938,400 $4,600 $3.46 RESIDENTIAL BUILDING gsf: 271,500 $123.00 $33,395,000 STAFF $0 LANDSCAPING $479,808 $2,352 $1.77 DEMOLITION $3,792 $2.85 $773,568 COLLATERALS $0 UTILITIES $469,404 $2,301 $1.73 ASBESTOS ABATEMENT $5,800 $4.36 $1,183,200 ADVERTISING $0 COMMUNITY SPACE $448,800 $2,200 $1.65 SITEWORK $23,000 $17.28 $4,692,000 RENT CONCESSIONS $0 OTHER $0 $0 $0.00 SITE REMEDIATION $4,600 $3.46 $938,400 LOTTERY $0 OVERHEAD, PROFIT & GEN COND $785,400 $3,850 $2.89 LANDSCAPING $2,352 $1.77 $479,808 CONTINGENCY $0 $0 $0.00 UTILITIES $2,301 $1.73 $469,404 FF&E $0 COMMUNITY SPACE $2,200 $1.65 $448,800 MODEL UNIT $0 SOFT COSTS $3,945,985 $19,343 $14.53 GARAGE 31 $25,000 $775,000 CLUBHOUSE FURNITURE $0 PERMITS AND FEES $1,235,016 $6,054 $4.55 OTHER $0.00 $0 OTHER FURNT + EQUIPM” $0 SURVEY/TESTING $0 $0 $0.00 OVERHEAD/PROFIT/GEN COND 1.8% $785,400 OTHER $0 ARCHITECTURE & ENGINEERING $742,764 $3,641 $2.74 CONTINGENCY 0.0% $0 CONSTRUCTION/BRIDGE LOAN LEGAL $93,840 $460 $0.35 PERMITS AND FEES $1,235,016 LOAN AMT $38,092,000 TITLE & RECORDING $0 $0 $0.00 BUILDING PERMIT 1.1% $0 $429,172 LOAN INTEREST 2.61% BUILDERS RISK INSURANCE $0 $0 $0.00 WATER FEES $0 $214,200 LOAN FEES 0.00% PROPERTY TAXES $0 $0 $0.00 SEWER FEES $1,050 $214,200 AVG BALANCE 50.0% ACCOUNTING/BOOKKEEPING $85,068 $417 $0.31 lal $0 $112,640 TERM (MOS) 18 MARKETING $0 $0 $0.00 OTHER PERMITS $264,804 OTHER COSTS(Legal) $0 FURNITURE, FIXTURES & EQUIPMEN1 $0 $0 $0.00 ARCHITECTURE & ENGINEERING 1.7% $742,764 INSPECTING ENGINEER $0 $0 $0.00 ARCHITECTURE & ENGINEERING $416,568 PERMANENT FINANCING FEES $112,816 $553 $0.42 CIVIL ENGINEERING/GEOTECH $326,196 PERMANENT LOAN RENT-UP LOSSES $469,200 $2,300 $1.73 OTHER $0 MAX LOAN AMT $38,092,626" CONSTRUCTION LOAN FEES $0 $0 $0.00 ENG FEASIBILITY STUDIES $0 LOAN AMT __-— $38,092,000 CONSTRUCTION LOAN INTEREST $745,628 $3,655 $2.75 PRELIM GRADING AND DRAINAGE, PLAN & SPEC REVI $0 LOAN TO VALUE 70.0% REZONING $441,252 $2,163 $1.63 INTERIOR DESIGN $0 _-CAP RATE 6.00% BOND PREMIUM 0.00% $0 $0 $0.00 SURVEY/TESTING Will require $3.8 50_ DEBT SERVICE CVGE 1.25 APPRAISAL/MARKET STUDY $20,400 $100 $0.08 ALTA/SURVEY/TOPOGRAPHY million additional $0 INTEREST RATE 4.25% OTHER $0 $0 $0.00 WETLANDS equity $0 AMORTIZATION 30.00 SOFT COST CONTINGENCY $0 $0 $0.00 ENVIRONMENTAL $0 LOAN CONSTANT 0.059033 TRAFFIC. $0 OTHER: LENDER LEGAL $30,000 DEVELOPER FEE/OVERHE/ 2.88% $1,377,000 $6,750 $5.07 GEOTECH $0 ADMIN FEE 0.0% CONSULTANTS $0 FINANCING FEES 0.22% CAPITALIZED RESERVES $0 $0 $0.00 FISCAL IMPACT/NOISE $0 CONS INSP FEE 0.0% GROUNDWATER TEST $0 MORTG INSUR PREM 0.000% TOTAL DEVELOPMENT COSTS $49,263,565 $241,488 $181.45 MATERIAL TESTING $0 $0 OTHER SOURCES $49,263,565 $241,488 INSURANCE 0.00% MORTGAGE LOAN $38,092,000 $186,725 TAX RATE 0.01165 DEVELOPER FEE CONTRIBUTED $0 $0 0 SOFT COST CONTING 0.0% TAX CREDIT EQUITY $0 $0 OTHER $0 $0 CASH EQUITY $11,171,565 $54,763
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Plymouth Rubber Rental Adjusted-25% Affordable 3/6/2013 1 2 3 4 5 6 7 8 9 10 AFFORDABLE RENTAL INCOME $824,532 $845,145 $866,274 $887,931 $910,129 $932,882 $956,204 $980,109 $1,004,612 $1,029,727 MARKET RENTAL INCOME $3,908,914 $4,006,637 $4,106,803 $4,209,473 $4,314,710 $4,422,578 $4,533,142 $4,646,471 $4,762,632 $4,881,698 GROSS POTENTIAL INCOME $4,733,446 $4,851,782 $4,973,077 $5,097,404 $5,224,839 $5,355,460 $5,489,346 $5,626,580 $5,767,245 $5,911,426 OTHER INCOME $85,680 $87,822 $90,018 $92,268 $94,575 $96,939 $99,363 $101,847 $104,393 $107,003 LESS VACANCY ($240,956) ($246,980) ($253,155) ($259,484) ($265,971) ($272,620) ($279,435) ($286,421) ($293,582) ($300,921) EFFECTIVE RENTAL INCOME $4,578,170 $4,692,624 $4,809,940 $4,930,188 $5,053,443 $5,179,779 $5,309,273 $5,442,005 $5,578,055 $5,717,507 OPERATING EXPENSES MANAGEMENT FEE $146,845 $187,705 $192,398 $197,208 $202,138 $207,191 $212,371 $217,680 $223,122 $228,700 ADMINISTRATION $195,330 $201,190 $207,226 $213,442 $219,846 $226,441 $233,234 $240,231 $247,438 $254,861 MARKETING $79,560 $81,947 $84,405 $86,937 $89,545 $92,232 $94,999 $97,849 $100,784 $103,808 MAINTENANCE $281,289 $289,728 $298,419 $307,372 $316,593 $326,091 $335,874 $345,950 $356,328 $367,018 UTILITIES $84,946 $87,494 $90,119 $92,823 $95,607 $98,476 $101,430 $104,473 $107,607 $110,835 INSURANCE $81,214 $83,650 $86,160 $88,745 $91,407 $94,149 $96,974 $99,883 $102,879 $105,966 REAL ESTATE TAXES $318,852 $328,418 $338,270 $348,418 $358,871 $369,637 $380,726 $392,148 $403,912 $416,030 ROLLING MILL CLUBHOUSE FEES $58,752 $60,515 $62,330 $64,200 $66,126 $68,110 $70,153 $72,258 $74,425 $76,658 REPLACEMENT RESERVE $66,300 $68,289 $70,338 $72,448 $74,621 $76,860 $79,166 $81,541 $83,987 $86,506 TOTAL OPERATING EXPENSES $1,313,088 $1,388,935 $1,429,665 $1,471,593 $1,514,754 $1,559,186 $1,604,926 $1,652,012 $1,700,484 $1,750,383 NET OPERATING INCOME $3,265,082 $3,303,689 $3,380,275 $3,458,595 $3,538,688 $3,620,593 $3,704,347 $3,789,993 $3,877,572 $3,967,124 DEBT SERVICE $2,248,677 $2,248,677 $2,248,677 $2,248,677 $2,248,677 $2,248,677 $2,248,677 $2,248,677 $2,248,677 $2,248,677 CASH FLOW $1,016,405 $1,055,012 $1,131,598 $1,209,919 $1,290,012 $1,371,916 $1,455,670 $1,541,316 $1,628,895 $1,718,447 DEBT SERVICE COVERAGE 1.45 1.47 1.50 1.54 1.57 1.61 1.65 1.69 1.72 1.76 EQUITY $11,171,565 CASH ON CASH RETURN 9.1% 9.4% 10.1% 10.8% 11.5% 12.3% 13.0% 13.8% 14.6% 15.4% RETURN ON COST 6.6% 6.71% 6.86% 7.02% 7.18% 7.35% 7.52% 7.69% 7.87% 8.05% |IRR 15.8%]
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ROJEC E PLYMOURH RUBBER JOWNHOUSE COMMU CANTO) | DATE: | March Hi B BASE SALES SCHEDULE |Pricing is aggressive | I | % OF——UNIT TOTAL UNITSALES | GROSS PRICE PER UNIT DESCRIPTION UNITS TOTAL———SIZE———SF PRIC PROCEEDS SQ FT 2BR BA Market 14 21.88% 1,347 18,858 $343,485 y $4,808,790 $255.00 2 BR BA Market 31 48.44% 1,606 49,786 $393,470 ]$12,197,570 $245.00 2 BR BA Market 19 29.69% 1,688 32,072 $405,1 $7,697,288 $240.00 64 1,574 100,716 $385,994 $24,703,648 $245.28 2 BR BA Affordable 0 0.00% 0 0 $0 $0 $0.00 2 BR BA Affordable 0 0.00% ) 0 $0 $0 $0.00 2 BR BA Affordable 0 0.00% ) 0 $0 $0 $0.00 0 0 0 $0 $0 $0.00 64 NSF 100,716 $24,703,648 EFFICIENCY 100% TOTAL GSF 100,716 PERCENTAGE AFFORDABLE 0.0% ADDITIONAL PARKING 0 $0 $0 OTHER 0 SQUARE FEET $0 $0 GROSS PROCEEDS $24,703,648
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PRO EC [NAME PLYMOUTH RUBBERITIOWN COMMUNITY; | | CANTON DEVELOPMENT BUDGET DATE: | March 7, 20 BUDGET OETA TOTAL COST COST PER UNIT COST PERS.F. ACQUISITION $0 LEGAL $79,680 ACQUISITION COSTS $0 $0 $0.00 BUILDING COST $0 ORGANIZATIONAL $0 $0 LAND COST —_—ACRES: 0 #DIV/0! PER ACRE $0 PERMITTING $0 $0 CONSTRUCTION COSTS $14,722,880 $230,045 $146.18 NON-REFUNDABLE PAYMENTS $0 FINANCING $0 $0 RESIDENTIAL BUILDING $11,520,000 $180,000 $114.38 | BROKERAGE COSTS $0 CONDO DOCS $0 $0 SITE IMPROVEMENTS $1,747,264 $27,301 $17.35 CARRYING COSTS $0 LOAN CLOSINGS $521 $33,344 LANDSCAPING $150,528 $2,352 $1.49 CONSTRUCTION COSTS $146.18 $14,722,880 OTHER $46,336 AMENITIES/COMMON AREAS $140,800 $2,200 $1.40 RESID BLDG 100,716 $114.38 $180,000 $11,520,000 MARKETING $1,248,000 ASBESTOS/SITE REMED/DEMO $908,288 $14,192 $9.02 SITEWORK $15.89 $25,000 $1,600,000 BROKERAGE (MKT) 5.1% $1,248,000 OVERHEAD,PROFIT & GEN CONDITIONS $256,000 $4,000 $2.54 UTILITIES 0 © $1.46 += $2,301-~—S«$147,264. AFFORDABLE LOTTERY 0.0% $0 CONTINGENCY $0 $0 $0.00 LANDSCAPING $1.49 $2,852 «$150,528 + ADVERTISING $0 AMENITIES/COMMON AREAS $1.40 $2,200 $140,800 OTHER 0.0% $0 SOFT COSTS $3,896,129 $60,877 $38.68 | ASBESTOS ABATEMENT $3.69 $5,800 $371,200 FF&E $83,200 PERMITS AND FEES $387,456 $387,456 $6,054 $3.85 SITE REMEDIATION $2.92 $294,400 MODEL UNIT $83,200 ARCHITECTURE & ENGINEERING $233,024 $3,641 $2.31 DEMOLITION $2.41 $3,792 $242,688 ~~ OTHER(EXERC EQUIP,LOBBY,ETC) $0 SURVEY/TESTING $0 $0 $0.00 OTHER $0.00 $0 $0 LEGAL $79,680 $1,245 $0.79 OTHER $0.00 $0 $0 CONSTRUCTION LOAN TITLE & RECORDING $12,600 $197 $0.13 OTHER $0.00 $0 $0 LOAN TO VALUE RATIO 75.0% BUILDER'S RISK INSURANCE $0 $0 $0.00 OTHER $0.00 $0 $0 LOAN TO COST 90.0% PROPERTY TAXES $0 $0 $0.00 OTHER 0 $0.00 $0 $0 | MAX LOAN AMOUT $15,502,514 ACCOUNTING/BOOKKEEPING $26,688 $417 $0.26 GENCONDITIONS/TAXES/INSL 1.8% $2.54 $4,000 $256,000 LOAN AMOUNT $7,500,000 MARKETING $1,248,000 $19,500 $12.39 CONTINGENCY 0.0% $0.00 $0 $0 LOAN INTEREST 4.5% DEED STAMPS $112,649 $1,760 $1.12 PERMITS AND FEES 2.6% $387,456 LOAN POINTS 0.51% FURNITURE, FIXTURES & EQUIPMENT $83,200 $1,300 $0.83 BUILDING PERMIT 1.1% $1.47 $2,810 «$147,840 + AVG BALANCE 55% OTHER: $0 $0 $0.00 SEWER TIE-IN 0.6% $0.67 $1,050 $67,200 TERM(MOS) 36 APPLICATION & FINANCING FEES $38,400 $600 $0.38 WATER TIE-IN 0.6% $0.67 — $1,050 $67,200 OTHER COSTS-Inspector/Lender Lege $0 DEVELOPER OVERHEAD $960,000 $15,000 $9.53 «18 0.5% $879 $56,230 CONSTRUCTION LOAN INTEREST $563,200 $8,800 $5.59 OTHER 0.0% $0 $0 OTHER ASSUMPTIONS REZONING $138,432 $2,163 $1.37 OTHER $0 $0 1 DEED STAMPS 0.456% CONSULTING $0 $0 $0.00 OTHER FEES & PERMITS $765 $48,986 SOFTCOSTCONTING 0.0% CONSTRUCTION MANAGER $0 $0 $0.00 ARCHITECTURE & ENGINEERING 1.6% $233,024 INSURANCE 0.00% UTILITIES $0 $0 $0.00 ARCHITECTURE 0.9% $130,688 TAX RATE 0.01165 APPRAISAL $12,800 $200 $0.13 ENGINEERING 0.7% $102,336 0 APPLICATION FEES 0 $0 MAINTENANGE/UNSOLD UNITS $0 $0 $0.00 OTHER 0.0% $0 $0 0 MONIT + FINAL APPVL FEE $0 SOFT COST CONTINGENCY $0 $0 $0.00 OTHER 0.0% $0 TOTAL DEVELOPMENT COSTS $18,619,009 $290,922 $184.87 OTHER 0.0% $0 PROFIT ANALYSIS SURVEY/TESTING $0 GROSS SALES PROCEEDS $24,703,648 $385,994 ALTA/SURVEY/TOPOGRAPHY $0 TOTAL DEVELOPMENT COSTS $18,619,009 $290,922 PHASE 1 $0 PROFIT $6,084,639 TRAFFIC $0 PROFIT AS % OF TDC CONSTRUCTION TESTING $0
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ROJECT] Ft PLYMOUTH RUBBER JOWNHOUSE! COMMU CANTO} | DATE: | March |74/2018 ADJUSTED SALES SCHEDULE: 5-6% PRICE REDUCTION Reduced 5%-6% | %OF———UNIT TOTAL UNITSALES GROSS PRICE PER UNIT DESCRIPTION UNITS | TOTAL——_SIZE—_SF PRICE PROCEEDS SQFT 2 BR BA Market 14 21.88% 1,347 18,858 $325,000 $4,550,000 $241.28 2 BR BA Market 31 48.44% 1,606 49,786 | $370,000 $11,470,000 $230.39 2 BR BA Market 19 29.69% 1,688 32,072 $385,0004 $7,315,000 $228.08 64 1,574 100,716 $364,609 $23,335,000 $231.69 64 NSF 100,716 $23,335,000 EFFICIENCY 100% TOTAL GSF 100,716 PERCENTAGE AFFORDABLE 0.0% ADDITIONAL PARKING 0 $0 $0 OTHER 0 SQUARE FEET $0 $0 GROSS PROCEEDS $23,335,000
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PRO EC [NAME PLYMOUTH RUBBERI TOWNE COMMUNITY; | | CANTON DEVELOPMENT BUDGET DATE: | March 7, 20 ADJUSTED SALES SCHEDULE: 5-6% PRICE REDUCTION BUDGETDETAL TOTAL COST COST PER UNIT COST PERS.F. ACQUISITION $0 LEGAL $79,680 ACQUISITION COSTS $0 $0 $0.00 BUILDING COST $0 ORGANIZATIONAL $0 $0 LAND COST ACRES: 0 #DIV/0! PER ACRE $0 PERMITTING $0 $0 CONSTRUCTION COSTS $14,722,880 $230,045 $146.18 | NON-REFUNDABLE PAYMENTS $0 FINANCING $0 $0 RESIDENTIAL BUILDING $11,520,000 $180,000 $114.38 | BROKERAGE COSTS $0 | CONDO DOCS $0 $0 SITE IMPROVEMENTS $1,747,264 $27,301 $17.35 | CARRYING COSTS $0 LOAN CLOSINGS $521 $33,344 LANDSCAPING $150,528 $2,352 $1.49 CONSTRUCTION COSTS $146.18 $14,722,880 OTHER $46,336 AMENITIES/COMMON AREAS $140,800 $2,200 $1.40 RESID BLDG 100,716 $114.38 $180,000 $11,520,000 MARKETING $1,178,857 ASBESTOS/SITE REMED/DEMO $908,288 $14,192 $9.02 SITEWORK $15.89 $25,000 $1,600,000 += BROKERAGE (MKT) 5.1% $1,178,857 OVERHEAD,PROFIT & GEN CONDITIONS $256,000 $4,000 $2.54 UTILITIES 0 §©$1.46 ~— $2,301 $147,264 | AFFORDABLE LOTTERY 0.0% $0 CONTINGENCY $0 $0 $0.00 LANDSCAPING $1.49 $2,352 $150,528 += ADVERTISING $0 AMENITIES/COMMON AREAS $1.40 $2,200 $140,800 += OTHER 0.0% $0 SOFT COSTS $3,820,745 $59,699 $37.94 | ASBESTOS ABATEMENT $3.69 $5,800 $371,200 FF&E $83,200 PERMITS AND FEES $387,456 $387,456 $6,054 $3.85 SITE REMEDIATION $2.92 $294,400 MODEL UNIT $83,200 ARCHITECTURE & ENGINEERING $233,024 $3,641 $2.31 DEMOLITION $2.41 $3,792 $242,688 += OTHER(EXERC EQUIP,LOBBY,ETC) $0 SURVEY/TESTING $0 $0 $0.00 OTHER $0.00 $0 $0 LEGAL $79,680 $1,245 $0.79 OTHER $0.00 $0 $0 CONSTRUCTION LOAN TITLE & RECORDING $12,600 $197 $0.13 OTHER $0.00 $0 $0 LOAN TO VALUE RATIO. 75.0% BUILDER'S RISK INSURANCE $0 $0 $0.00 OTHER $0.00 $0 $0 LOAN TO COST 90.0% PROPERTY TAXES $0 $0 $0.00 OTHER 0 $0.00 $0 $0 | MAX LOAN AMOUT $15,502,514 ACCOUNTING/BOOKKEEPING $26,688 $417 $0.26 GENCONDITIONS/TAXES/INSL 1.8% $2.54 $4,000 +=» $256,000 +=» LOAN AMOUNT $7,500,000 MARKETING $1,178,857 $18,420 $11.70 CONTINGENCY 0.0% $0.00 $0 $0 LOAN INTEREST 4.5% DEED STAMPS $106,408 $1,663 $1.06 PERMITS AND FEES 2.6% $387,456 LOAN POINTS 0.51% FURNITURE, FIXTURES & EQUIPMENT $83,200 $1,300 $0.83 BUILDING PERMIT 1.1% $1.47 $2,310 $147,840 AVG BALANCE 55% OTHER: $0 $0 $0.00 SEWER TIE-IN 0.6% $0.67 — $1,050 $67,200 TERM (MOS) 36 APPLICATION & FINANCING FEES $38,400 $600 $0.38 WATER TIE-IN 0.6% $0.67 $1,050 $67,200 OTHER COSTS-Inspector/Lender Lege $0 DEVELOPER OVERHEAD $960,000 $15,000 $9.53 «1&1 0.5% $879 $56,230 CONSTRUCTION LOAN INTEREST $563,200 $8,800 $5.59 OTHER 0.0% $0 $0 OTHER ASSUMPTIONS REZONING $138,432 $2,163 $1.37. OTHER $0 $0 1 DEED STAMPS 0.456% CONSULTING $0 $0 $0.00 OTHER FEES & PERMITS $765 $48,986 SOFT COST CONTING 0.0% CONSTRUCTION MANAGER $0 $0 $0.00 ARCHITECTURE & ENGINEERING 1.6% $233,024 INSURANCE 0.00% UTILITIES $0 $0 $0.00 ARCHITECTURE 0.9% $130,688 TAX RATE 0.01165 APPRAISAL $12,800 $200 $0.13 ENGINEERING 0.7% $102,336 0 APPLICATION FEES 0 $0 MAINTENANCE/UNSOLD UNITS $0 $0 $0.00 OTHER 0.0% $0 $0 0 MONIT + FINAL APPVL FEE $0 SOFT COST CONTINGENCY $0 $0 $0.00 OTHER 0.0% $0 TOTAL DEVELOPMENT COSTS $18,543,625 $289,744 $184.12 OTHER 0.0% $0 PROFIT ANALYSIS Sufficient cushion to SURVEY/TESTING $0 GROSS SALES PROCEEDS attract a construction | $23,335,000 $364,609 ALTA/SURVEY/TOPOGRAPHY $0 TOTAL DEVELOPMENT COSTS lender $18,543,625 $289,744 PHASE 1 $0 PROFIT $4,791,375, TRAFFIC $0 PROFIT AS % OF TDC 25.8% CONSTRUCTION TESTING $0
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ROJECTINAME: PLYMOUTH RUBBER TOWNHOUSE COMMU CANTO} | DATE: | March |74/2018 ADJUSTED SALES SCHEDULE: 10% PRICE REDUCTION Reduced 10% | %OF———UNIT TOTAL UNITSALES GROSS PRICE PER UNIT DESCRIPTION UNITS | TOTAL———SIZE——SF PRICE PROCEEDS SQFT 2 BR BA Market 14 21.88% 1,347 18,858 $309,000, $4,326,000 $229.40 2 BR BA Market 31 48.44% 1,606 49,786 $351,900 $10,908,900 $219.12 2 BR BA Market 19 29.69% 1,688 32,072 $366,000 $6,954,000 $216.82 64 1,574 100,716 $346,702 $22,188,900 $220.31 64 NSF 100,716 $22,188,900 EFFICIENCY 100% TOTAL GSF 100,716 PERCENTAGE AFFORDABLE 0.0% ADDITIONAL PARKING 0 $0 $0 OTHER 0 SQUARE FEET $0 $0 GROSS PROCEEDS $22,188,900
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PRO EC [NAME PLYMOUTH PEER TOWNE COMMUNITY; | | CANTON DEVELOPMENT BUDGET DATE: | March 7, 20 ADJUSTED SALES SCHEDULE: 10% PRICE REDUCTION BUDGET DET TOTAL COST COST PER UNIT COST PERS.F. ACQUISITION $0 LEGAL $79,680 ACQUISITION COSTS $0 $0 $0.00 BUILDING COST $0 ORGANIZATIONAL $0 $0 LAND COST ACRES: 0 #DIV/0! PER ACRE $0 PERMITTING $0 $0 CONSTRUCTION COSTS $14,722,880 $230,045 $146.18 NON-REFUNDABLE PAYMENTS $0 FINANCING $0 $0 RESIDENTIAL BUILDING $11,520,000 $180,000 $114.38 BROKERAGE COSTS $0 | CONDO DOCS $0 $0 SITE IMPROVEMENTS $1,747,264 $27,301 $17.35 CARRYING COSTS $0 LOAN CLOSINGS $521 $33,344 LANDSCAPING $150,528 $2,352 $1.49 | CONSTRUCTION COSTS $146.18 $14,722,880 OTHER $46,336 AMENITIES/COMMON AREAS $140,800 $2,200 $1.40 RESID BLDG 100,716 $114.38 $180,000 $11,520,000 MARKETING $1,120,958 ASBESTOS/SITE REMED/DEMO $908,288 $14,192 $9.02 SITEWORK $15.89 $25,000 $1,600,000 = BROKERAGE (MKT) 5.1% $1,120,958 OVERHEAD,PROFIT & GEN CONDITIONS $256,000 $4,000 $2.54 UTILITIES 0 $1.46 $2,301 $147,264 | AFFORDABLE LOTTERY 0.0% $0 CONTINGENCY $0 $0 $0.00 LANDSCAPING $1.49 $2,352 $150,528 ADVERTISING $0 AMENITIES/COMMON AREAS $1.40 $2,200 $140,800 | OTHER 0.0% $0 SOFT COSTS $3,757,619 $58,713 $37.31 ASBESTOS ABATEMENT $3.69 $5,800 $371,200 FF&E $83,200 PERMITS AND FEES $387,456 $387,456 $6,054 $3.85 SITE REMEDIATION $2.92 $294,400 | MODEL UNIT $83,200 ARCHITECTURE & ENGINEERING $233,024 $3,641 $2.31 DEMOLITION $2.41 $3,792 $242,688 OTHER(EXERC EQUIP,LOBBY,ETC) $0 SURVEY/TESTING $0 $0 $0.00 OTHER $0.00 $0 $0 LEGAL $79,680 $1,245 $0.79 OTHER $0.00 $0 $0 CONSTRUCTION LOAN TITLE & RECORDING $12,600 $197 $0.13 OTHER $0.00 $0 $0 LOAN TO VALUE RATIO 75.0% BUILDER'S RISK INSURANCE $0 $0 $0.00 OTHER $0.00 $0 $0 | LOAN TO COST 90.0% PROPERTY TAXES $0 $0 $0.00 OTHER 0 $0.00 $0 $0 | MAXLOAN AMOUT $15,502,514 ACCOUNTING/BOOKKEEPING $26,688 $417 $0.26 GEN CONDITIONS/TAXES/INSL 1.8% $2.54 $4,000 $256,000 | LOAN AMOUNT $7,500,000 MARKETING $1,120,958 $17,515 $11.13 CONTINGENCY 0.0% $0.00 $0 $0 LOAN INTEREST 4.5% DEED STAMPS $101,181 $1,581 $1.00 PERMITS AND FEES 2.6% $387,456 LOAN POINTS 0.51% FURNITURE, FIXTURES & EQUIPMENT $83,200 $1,300 $0.83 BUILDING PERMIT 11% $1.47 $2,310 $147,840 | AVG BALANCE 55% OTHER: $0 $0 $0.00 SEWER TIE-IN 0.6% $0.67 $1,050 $67,200 | TERM (MOS) 36 APPLICATION & FINANCING FEES $38,400 $600 $0.38 WATER TIE-IN 0.6% $0.67 $1,050 $67,200 | OTHER COSTS-Inspector/Lender Lege $0 DEVELOPER OVERHEAD $960,000 $15,000 $9.53 1&1 0.5% $879 $56,230 CONSTRUCTION LOAN INTEREST $563,200 $8,800 $5.59 OTHER 0.0% $0 $0 OTHER ASSUMPTIONS REZONING $138,432 $2,163 $1.37 OTHER $0 $0 1 DEED STAMPS 0.456% CONSULTING $0 $0 $0.00 OTHER FEES & PERMITS $765 $48,986 | SOFT COST CONTING 0.0% CONSTRUCTION MANAGER $0 $0 $0.00 ARCHITECTURE & ENGINEERING 1.6% $233,024 INSURANCE 0.00% UTILITIES $0 $0 $0.00 ARCHITECTURE 0.9% $130,688 TAX RATE 0.01165 APPRAISAL $12,800 $200 $0.13 ENGINEERING 0.7% $102,336 0 APPLICATION FEES 0 $0 MAINTENANCE/UNSOLD UNITS $0 $0 $0.00 OTHER 0.0% $0 $0 0 MONIT + FINAL APPVL FEE $0 SOFT COST CONTINGENCY $0 $0 $0.00 OTHER 0.0% $0 TOTAL DEVELOPMENT COSTS $18,480,499 $288,758 $183.49 OTHER 0.0% $0 PROFIT ANALYSIS Sufficient cushion to SURVEY/TESTING $0 GROSS SALES PROCEEDS attract a construction | $22,188,900 $346,702 ALTA/SURVEY/TOPOGRAPHY $0 TOTAL DEVELOPMENT COSTS lender $18,480,499 $288,758 PHASE 1 $0 PROFIT ~~$3;708,401,. TRAFFIC $0 PROFIT AS % OF TDC 20.1% CONSTRUCTION TESTING $0
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ROJEC | PLYMOUWH RUBBER JOMINHOUSE COMMU CANTO} | DATE: | March 4j2 B ADJUSTED SALES SCHEDULE: 5-6% REDUCTION + 10% AFFORDABILITY % OF———UNIT TOTAL UNIT SALES GROSS PRICE PER UNIT DESCRIPTION UNITS TOTAL———SIZE———_SF PRICE PROCEEDS SQ FT 2 BR BA Market 12 18.75% 1,347 16,164 $325,000 $3,900,000 $241.28 2 BR BA Market 28 43.75% 1,606 44,968 $370,000 $10,360,000 $230.39 2 BR BA Market 17 26.56% 1,688 28,696 $385,000 $6,545,000 $228.08 57 1,576 89,828 $365,000 $20,805,000 $231.61 2 BR BA Affordable 2 3.18% 1,347 2,694 $173,100 $346,200 $128.51 2BR BA Affordable 3 4.69% 1,606 4,818 $173,100 $519,300 $107.78 2BR BA Affordable 2 3.13% 1,688 3,376 $173,100 $346,200 $102.55 7 1,555 10,888 $173,100 $1,211,700 $111.29 64 NSF 100,716 $22,016,700 EFFICIENCY 100% TOTAL GSF_ 100,716 PERCENTAGE AFFORDABLE 10.9% ADDITIONAL PARKING 0 $0 $0 OTHER 0 SQUARE FEET $0 $0 GROSS PROCEEDS $22,016,700
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PRovect NAIMEHPLY MOUTH RUBEERITIOWNHOUSES COMMUNITY: ANTO! DEVELOPMENT BUDGET DATE: arch 4,204 ADJUSTED SALES SCHEDULE: 5-6% REDUCTION + 10% AFFORDABILITY BUDGET ETA TOTAL COSTCOST PER UNIT COST PER S ACQUISITION $0 LEGAL $79,680 ACQUISITION COSTS $0 $0 $0.00 BUILDING COST $0 ORGANIZATIONAL $0 $0 LAND COST ACRES: 0 #DIV/0! PER ACRE $0 PERMITTING $0 $0 CONSTRUCTION COSTS $14,722,880 $230,045 $146.18 NON-REFUNDABLE PAYMENTS $0 FINANCING $0 $0 RESIDENTIAL BUILDING $11,520,000 $180,000 $114.38 BROKERAGE COSTS $0 CONDO DOCS $0 $0 SITE IMPROVEMENTS $1,747,264 $27,301 $17.35 | CARRYING COSTS $0 LOAN CLOSINGS $521 $33,344 LANDSCAPING $150,528 $2,352 $1.49 CONSTRUCTION COSTS $146.18 $14,722,880 OTHER $46,336 AMENITIES/COMMON AREAS. $140,800 $2,200 $1.40 RESID BLDG 100,716 $114.38 $180,000 $11,520,000 MARKETING $1,051,045 ASBESTOS/SITE REMED/DEMO $908,288 $14,192 $9.02 SITEWORK $15.89 $25,000 $1,600,000 BROKERAGE (MKT) 5.1% $1,051,045 OVERHEAD,PROFIT & GEN CONDITIONS $256,000 $4,000 $2.54 UTILITIES 0 $1.46 $2,301 $147,264 AFFORDABLE LOTTERY 0.0% $0 CONTINGENCY $0 $0 $0.00 LANDSCAPING $1.49 $2,352 $150,528 ADVERTISING $0 AMENITIES/COMMON AREAS $1.40 $2,200 $140,800 OTHER 0.0% $0 SOFT COSTS $3,686,921 $57,608 $36.61 ASBESTOS ABATEMENT $3.69 $5,800 $371,200 FF&E $83,200 PERMITS AND FEES $387,456 $387,456 $6,054 $3.85 SITE REMEDIATION $2.92 $294,400 MODEL UNIT $83,200 ARCHITECTURE & ENGINEERING $233,024 $3,641 $2.31 DEMOLITION $2.41 $3,792 $242,688 += OTHER(EXERC EQUIP,LOBBY,ETC) $0 SURVEY/TESTING $0 $0 $0.00 OTHER $0.00 $0 $0 LEGAL $79,680 $1,245 $0.79 OTHER $0.00 $0 $0 CONSTRUCTION LOAN TITLE & RECORDING $12,600 $197 $0.13 OTHER $0.00 $0 $0 LOAN TO VALUE RATIO 75.0% BUILDER'S RISK INSURANCE $0 $0 $0.00 OTHER $0.00 $0 $0 LOAN TO COST 90.0% PROPERTY TAXES $0 $0 $0.00 OTHER 0 $0.00 $0 $0 MAX LOAN AMOUT $15,502,514 ACCOUNTING/BOOKKEEPING $26,688 $417 $0.26 GEN CONDITIONS/TAXES/INSL 1.8% $2.54 $4,000 $256,000 LOAN AMOUNT $7,500,000 MARKETING $1,051,045 $16,423 $10.44 CONTINGENCY 0.0% $0.00 $0 $0 LOAN INTEREST 4.5% DEED STAMPS $100,396 $1,569 $1.00 PERMITS AND FEES 2.6% $387,456 LOAN POINTS 0.51% FURNITURE, FIXTURES & EQUIPMENT $83,200 $1,300 $0.83 BUILDING PERMIT 1.1% $1.47 $2,310 $147,840 AVG BALANCE 55% OTHER: $0 $0 $0.00 SEWER TIE-IN 0.6% $0.67 $1,050 $67,200 TERM (MOS) 36 APPLICATION & FINANCING FEES $38,400 $600 $0.38 WATER TIE-IN 0.6% $0.67 ~—- $1,050 $67,200 OTHER COSTS-Inspector/Lender Leg $0 DEVELOPER OVERHEAD $960,000 $15,000 $9.53 1&1 0.5% $879 $56,230 CONSTRUCTION LOAN INTEREST $563,200 $8,800 $5.59 OTHER 0.0% $0 $0 OTHER ASSUMPTIONS REZONING $138,432 $2,163 $1.37 OTHER $0 $0 1 DEED STAMPS 0.456% CONSULTING $0 $0 $0.00 OTHER FEES & PERMITS $765 $48,986 SOFT COST CONTING 0.0% CONSTRUCTION MANAGER $0 $0 $0.00 ARCHITECTURE & ENGINEERING 1.6% $233,024 INSURANCE 0.00% UTILITIES $0 $0 $0.00 ARCHITECTURE 0.9% $130,688 TAX RATE 0.01165 APPRAISAL, $12,800 $200 $0.13 ENGINEERING 0.7% $102,336 0 APPLICATION FEES 0 $0 MAINTENANCE/UNSOLD UNITS. $0 $0 $0.00 OTHER 0.0% $0 $0 0 MONIT + FINAL APPVL FEE $0 SOFT COST CONTINGENCY $0 $0 $0.00 OTHER 0.0% $0 TOTAL DEVELOPMENT COSTS. $18,409,801 $287,653 $182.79 OTHER 0.0% $0 PROFIT ANALYSIS Slightly below 20% 1 SURVEY/TESTING $0 GROSS SALES PROCEEDS |threshold l $22,016,700 $344,011 ALTA/SURVEY/TOPOGRAPHY $0 TOTAL DEVELOPMENT COSTS ee $18,409,801 $287,653 PHASE 1 $0 PROFIT $3,606,899. TRAFFIC $0 PROFIT AS % OF TDC 19.6% CONSTRUCTION TESTING $0
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AFFORDABILITY CALCULATION PLYMOUTH RUBBER TOWNHOUSES % of AREA MEDIAN INCOME 80% BEDROOM SIZE 2BR AVG PERSONS /HOUSEHOLD 3 70% OF MEDIAN INCOME $53,069 MAX MO. HOUSING PAYMENT $1,327 CONDOMINIUM FEE $160 INSURANCE $58 TAXES $168 AVAILABLE FOR DEBT SERVICE & PMI $940 MAXIMUM MORTGAGE $164,445 DEBT SERVICE $833 PMI $107 TOTAL DEBT SERVICE & PMI $940 MAXIMUM SALES PRICE $173,100 PERMANENT LOAN INTEREST RATE 4.50% AMORTIZATION 30 PMI (PRIVATE MORTG INSURANCE) 0.78% INSURANCE (monthly) 0.40% $58.00 PROPERTY TAX RATE $11.65 MAXIMUM SALES PRICE 95% Prices % Interes| Fee 57 MARKET $365,000 1.658% $338 0 1BR $0 0.000% $0 7 2BR $173,100 0.786% $160 0 3BR $0 0.000% $0 64 GROSS SALES PROCEEDS $22,016,700 Additional headings and budget entry verified from the original page: AFFORDABILITY CALCULATION (Boston) SALES PRICE ASSUMPTIONS CONDOMINIUM BUDGET $244,742 $319 AVG
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ROJEC : RUBBER CONDO FILIARS COMMU CA O DATE: | e 23,| 20118 BASE SALES SCHEDULE AGE-RESTRICTED % OF UNIT TOTAL UNIT SALES GROSS PRICE PER UNIT DESCRIPTION UNITS TOTAL———SIZE———_SF PRICE PROCEEDS SQ FT 1 BR 1 BA Market 24 30.00% 795 19,080 $222,600 $5,342,400 $280.00 2 BR 2 BA Market 8 10.00% 1,191 9,528 $315,615 $2,524,920 $265.00 2BR 2 BA Market 16 20.00% 1,237 19,792 $321,620 $5,145,920 $260.00 2BR 2 BA Market 32 40.00% 1,330 42,560 $332,500 $10,640,000 $250.00 80 1,137 90,960 $295,666 $23,653,240 $260.04 80 NSF 90,960 $23,653,240 EFFICIENCY 85% TOTAL GSF_ 106,672 PERCENTAGE AFFORDABLE 0.0% ADDITIONAL PARKING 0 $0 $0 OTHER 0 SQUARE FEET $0 $0 GROSS PROCEEDS $23,653,240
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PROJECT NAME PLYMOUTH|RUBBER CONDIOFLATS COMMUNITY: CANTO DEVELOPMENT BUDGET DATE: Februa 3 20 BUDGET ETA TOTAL COST COST PER UNIT COST PER S.F. ACQUISITION $0 LEGAL $99,600 ACQUISITION COSTS $0 $0 $0.00 BUILDING COST $0 ORGANIZATIONAL $0 $0 LAND COST ACRES: 0 #DIV/0! PER ACRE $0 PERMITTING $0 $0 CONSTRUCTION COSTS $17,751,600 $221,895 $166.41 NON-REFUNDABLE PAYMENTS $0 FINANCING $0 $0 RESIDENTIAL BUILDING (including Garage) $14,000,000 $175,000 $131.24 BROKERAGE COSTS $0 CONDO DOCS $0 $0 SITE IMPROVEMENTS $2,024,080 $25,301 $18.97 CARRYING COSTS $0 LOAN CLOSINGS $521 $41,680 LANDSCAPING $188,160 $2,352 $1.76 CONSTRUCTION COSTS $166.41 $17,751,600 OTHER $57,920 AMENITIES/COMMON AREAS. $176,000 $2,200 $1.65 RESID BLDG 106,672 $123.98 $165,313 $13,225,000 MARKETING $1,104,000 ASBESTOS/SITE REMED/DEMO $1,135,360 $14,192 $10.64 SITEWORK $17.25 $23,000 $1,840,000 BROKERAGE (MKT) 4.7% $1,104,000 OVERHEAD,PROFIT & GEN CONDITIONS $228,000 $2,850 $2.14 UTILITIES 0 $1.73 $2,301 $184,080 | AFFORDABLE LOTTERY 0.0% $0 CONTINGENCY $0 $0 $0.00 LANDSCAPING $1.76 $2,352 $188,160 ADVERTISING $0 AMENITIES/COMMON AREAS $1.65 $2,200 $176,000 OTHER 0.0% $0 SOFT COSTS $3,830,459 $47,881 $35.91 ASBESTOS ABATEMENT $4.35 $5,800 $464,000 FF&E $104,000 PERMITS AND FEES $484,320 $6,054 $4.54 SITE REMEDIATION $3.45 $368,000 MODEL UNIT $104,000 ARCHITECTURE & ENGINEERING $291,280 $3,641 $2.73. DEMOLITION $2.84 $3,792 $303,360 | OTHER(EXERC EQUIP,LOBBY,ETC) $0 SURVEY/TESTING $0 $0 $0.00 GARAGE _ No of Garage Spaces: 31 $7.27 $9,688 $775,000 LEGAL $99,600 $1,245 $0.93 OTHER $0.00 $0 $0 CONSTRUCTION LOAN TITLE & RECORDING $0 $0 $0.00 OTHER $0.00 $0 $0 | LOAN TO VALUE RATIO 75.0% BUILDER'S RISK INSURANCE $0 $0 $0.00 OTHER $0.00 $0 $0 LOAN TO COST 90.0% PROPERTY TAXES $0 $0 $0.00 OTHER 0 $0.00 $0 $0 MAX LOAN AMOUT $17,739,930 ACCOUNTING/BOOKKEEPING $33,360 $417 $0.31 GEN CONDITIONS/TAXES/INSL 1.3% $2.14 $2,850 $228,000 LOAN AMOUNT $10,500,000 MARKETING $1,104,000 $13,800 $10.35 CONTINGENCY 0.0% $0.00 $0 $0 LOAN INTEREST 4.5% DEED STAMPS $107,859 $1,348 $1.01 PERMITS AND FEES 2.7% $484,320 LOAN POINTS 1.00% FURNITURE, FIXTURES & EQUIPMENT $104,000 $1,300 $0.97 BUILDING PERMIT 1.1% $1.59 $2,126 $170,084 AVG BALANCE 55% OTHER: $0 $0 $0.00 SEWER TIE-IN 0.6% $0.79 $1,050 $84,000 TERM (MOS) 36 APPLICATION & FINANCING FEES $105,000 $1,313 $0.98 | WATER TIE-IN 0.6% $0.79 ~~ $1,050 $84,000 | OTHER COSTS-Inspector/Lender Leg $0 DEVELOPER OVERHEAD $540,000 $6,750 $5.06 1&1 0.5% $748 $59,840 CONSTRUCTION LOAN INTEREST $780,000 $9,750 $7.31 OTHER 0.0% $0 $0 OTHER ASSUMPTIONS REZONING $173,040 $2,163 $1.62 OTHER $0 $0 1 DEED STAMPS 0.456% CONSULTING $0 $0 $0.00 OTHER FEES & PERMITS $1,080 $86,396 SOFT COST CONTING 0.0% CONSTRUCTION MANAGER $0 $0 $0.00 ARCHITECTURE & ENGINEERING 1.6% $291,280 INSURANCE 0.00% UTILITIES $0 $0 $0.00 ARCHITECTURE 0.9% $163,360 TAX RATE 0.01165 APPRAISAL/MARKET STUDIES $8,000 $100 $0.07 ENGINEERING 0.7% $127,920 0 APPLICATION FEES 0 $0 MAINTENANCE/UNSOLD UNITS. $0 $0 $0.00 OTHER 0.0% $0 $0 0 MONIT + FINAL APPVL FEE $0 SOFT COST CONTINGENCY $0 $0 $0.00 OTHER 0.0% $0 TOTAL DEVELOPMENT COSTS. $21,582,059 $269,776 $202.32 OTHER 0.0% $0 PROFIT ANALYSIS SURVEY/TESTING $0 GROSS SALES PROCEEDS $23,653,240 $295,666 ALTA/SURVEY/TOPOGRAPHY $0 TOTAL DEVELOPMENT COSTS $21,582,059 $269,776 PHASE 1 $0 PROFIT $2,071,181 TRAFFIC $0 PROFIT AS % OF TDC 9.6% CONSTRUCTION TESTING $0
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pinergy CANTON TOWNHOUSE COMPARABLES--LAST 12 MONTHS ~~ 7tDetails= Condominium Listings : 25 Wall St U:K ae Canton, MA 02021 a _ TN 4 ae ne *| Style: Condo - Townhouse ia Rooms: 6 Beds: 2 Garage: 1 Parking: 2 Rail. 26 Turtle Brook Rd U:26 Canton, MA 02021 Style: Condo - Townhouse Rooms: 6 Beds: 2 Garage: 0 Parking: 2 MLS #: 71357938 Status:SLD DOM: 142 List $/SqFt: 205.68 Sold $/SqFt: 189.3 Baths: 2f Oh Pets: Yes w/ Restrictions Year Built: 2003 Remarks: Updated & Spacious Top Floor 2 Level Condo right in the heart of downtown Canton, features include over 1200 sq ft of living space, an updated granite kitchen w/ stainless appliances, huge living room / dining area, 2nd fir office / loft, generous size bedrooms & skylit master suite w/ private full bath, slider to balcony, c/a, 1 car garage, private storage unit, condo fee includes heat & hot water, convenient to everything & only a short walk to Commuter MLS #: 71396400 Status: SLD DOM: 365 List $/SqFt: 182.69 Sold $/SqFt: 175 Baths: 2f Oh Pets: Yes w/ Restrictions Year Built: 2007 Sale Price: $230,000 Sale Date: 10/19/2012 List Date: 3/27/2012 Off Mkt. Date: 8/16/2012 Orig. Price: $259,900 Outdoor Space: Yes - Common Assoc.Fee: $506 Living Area: 1215 Tax: $2617.23 Fy: 2011 List Price: $249,900 Sale Price: $273,000 Sale Date: 11/30/2012 List Date: 6/13/2012 Off Mkt. Date: 11/5/2012 Orig. Price: $325,000 Outdoor Space: Yes - Common Assoc.Fee: $145 Living Area: 1560 Tax: $3871 Fy: 2012 List Price: $285,000 Remarks: "Turtle Brook Village" Check Out This Beautiful Townhouse with sliders off dining area leading to a deck with fabulous privacy and peaceful views. Lower Finished Level is a walkout , 2 deeded parking spaces, tastefully presented. Total move in condition. Convienient to highways, commuter rail and shopping.Custom closets, hardwood floors in living and dining area..All stainless appliances staying. Such Value!!! Value Range Pricing-- Seller will entertain offers between $285, 000 and $300, 000 MLS #: 71369142 Status: SLD 62 Maple St U:D Canton, MA 02021 | Style: Condo - Townhouse Rooms: 5 Beds: 2 Garage: 1 Parking: 1 DOM: 35 List $/SqFt: 155.95 Sold $/SqFt: 150.81 Baths: 2f 1h Pets: Yes w/ Restrictions Year Built: 1995 Sale Price: $290,000 Sale Date: 8/17/2012 List Date: 4/18/2012 Off Mkt. Date: 5/23/2012 Orig. Price: $299,900 Outdoor Space: Yes - Common Assoc.Fee: $389 Living Area: 1923 Tax: $3633 Fy: 2012 List Price: $299,900 Remarks: Updated Townhouse 2 bed, 2.5 bath Condo---Excellent Location - Walk in under 8 minutes to either Canton Junction or Canton Center Train Station plus Library, Post Office, church, Shops and restaurants. New Granite and Stainless eat in Kitchen, upstairs carpet, first floor Pergo, paint in and out, roof, gutters, hot water tank all new.... Pet Friendly.. Easy Living... just move right in! MLS #: 71479394 Status: SLD 52 Turtle Brook Drive U:10-1 Canton, MA 02021 Style: Condo - Townhouse Rooms: 6 Beds: 2 Garage: 0 Parking: 1 right in! MLS #: 71479403 Status: SLD 56 Turtle Brook Drive U:11-1 Canton, MA 02021 Style: Condo - Townhouse Rooms: 6 Beds: 2 Garage: 0 Parking: 1 DOM: 0 Sale Price: $299,000 List $/SqFt: 167.13 Sale Date: 2/8/2013 List Date: 2/4/2013 Sold $/SqFt: 167.13 Off Mkt. Date: 2/5/2013 Orig. Price: $299,000 Outdoor Space: Yes - Private Assoc.Fee: $145 Living Area: 1789 Tax: $3892.16 Year Built: 2007 Fy: 2012 List Price: $299,000 Baths: 2f Oh Pets: Yes Remarks: Welcome to Turtle Brook Village. This unit features 3 levels of living, beautiful kitchen with maple cabinets, Ss appliances, and granite counters. 2 full baths with ceramic tile, full walk out basement offering great family room, home office, or guest room. Central air, gas heat, and in unit laundry. Over 1700 sf of living space over 3 levels. Move DOM: 0 Sale Price: $299,000 List $/SqFt: 167.13 Sale Date: 2/28/2013 List Date: 2/4/2013 Sold $/SqFt: 167.13 Off Mkt. Date: 2/6/2013 Orig. Price: $299,000 Outdoor Space: Yes - Private Assoc.Fee: $145 Living Area: 1789 Tax: $3891 Year Built: 2008 Fy: 2012 List Price: $299,000 Baths: 2f Oh Pets: Yes Remarks: Welcome to Turtle Brook Village and exciting development of townhomes situated conviently in Canton. First floor open concept featuring living room, dining room, and kitchen with slider off to rear deck. Full finished walkout basement perfect for a media room or family room, 2 full bathrooms, 2 spacious bedrooms, kitchen with stainless steel appliances and breakfast bar, central air, 1 of 4 and so much more. Over 1789 sf of living space over 3 levels. Move right in! 3/7/2013 1:32 PM
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pinergy
2 of 4
http://h3a.mlspin.com/search/Print_Reports.asp?ClientDetails=
MLS #: 71325764 Status: SLD DOM: 199 Sale Price: $301,000 List Price: $300,000
161 Maple Street U:G List $/SqFt: 159.4 Sale Date: 7/26/2012 List Date: 1/10/2012
Canton, MA 02021 Sold $/SqFt: 159.94 Off Mkt. Date: 7/26/2012 Orig. Price: $300,000
Style: Condo - Townhouse Outdoor Space: Yes - Private Assoc.Fee: $389.63
Rooms: 5 Beds: 2 Baths: 2f ih Living Area: 1882 Tax: $3447.68
_|Garage: 1 Parking: 2 Pets: Yes w/ Restrictions Year Built: 1995 Fy: 2011
Remarks: Canton Commons: Immaculate Townhouse: Great location within the complex . Large eat in kitchen has a
walk out bay, bright sunny southern exposure, Maple Cabinets and beautiful new Granite Counters. Family room has a
gas fireplace and sliders to a deck . Lower level has a large bonus room with slider to private patio. Master bedroom
with cathedral ceiling and full bath. Plenty of closet space and storage and attached direct garage entry. Walk to train,
shops, library and restaurants.
MLS #: 71453018 Status: SLD DOM: 52 Sale Price: $304,400 List Price: $314,900
61 Maple St U:M List $/SqFt: 173.59 Sale Date: 1/15/2013 List Date: 10/31/2012
Canton, MA 02021 Sold $/SqFt: 167.81 Off Mkt. Date: 12/22/2012 Orig. Price: $314,900
Style: Condo - Townhouse Outdoor Space: Yes - Common Assoc.Fee: $399
Rooms: 6 Beds: 2 Baths: 2f Oh Living Area: 1814 Tax: $3350.28
Garage: 0 Parking: 2. Pets: Yes w/ Restrictions Year Built: 1995 Fy: 2012
Remarks: Soaring cathedral ceilings + open fl plan just add to the wow factor of this impeccable penthouse condo w/
bonus upstairs fam. room. Close to Canton Center train sta., restaurants + shops, this "metropolitan home" unit boasts
many upgrades including renovated kitchen w 5-burner stove, granite countertops + ss appl / 2011; custom built-ins /
2011; custom designed ss gas FP; w/w carpeting / 2011; Lennox furnace / 2009 + picture window / 2011. Deck
overlooks pretty view.
MLS #: 71457968 Status: SLD DOM: 28 Sale Price: $305,000 List Price: $305,000
49 Turtle Brook Drive U:49 List $/SqFt: 172.51 Sale Date: 12/14/2012 List Date: 11/16/2012
Canton, MA 02021 Sold $/SqFt: 172.51 Off Mkt. Date: 11/26/2012 Orig. Price: $305,000
Style: Condo - Townhouse Outdoor Space: Yes - Private Assoc.Fee: $150
Rooms: 6 Beds: 2 Baths: 2f 1h Living Area: 1768 Tax: $0
Garage: 0 Parking: 1 Pets: Yes Year Built: 2011 Fy: 2012
Remarks: Light and bright end unit townhouse featuring tons of space and a great open layout. First floor open
concept featuring living room, dining room, and kitchen with slider off to rear patio. Full basement perfect for a media
room or family room, 2 full and 1 half bathrooms, 2 spacious bedrooms, kitchen with stainless steel appliances and
breakfast bar, central air, and so much more. Over 1700 sf of living space over 3 levels. Move right in!
MLS #: 71288314 Status: SLD DOM: 243 Sale Price: $308,000 List Price: $319,000
42 Evergreen Circle U:42 List $/SqFt: 180.23 Sale Date: 6/15/2012 List Date: 9/16/2011
|Canton, MA 02021 Sold $/SqFt: 174.01 Off Mkt. Date: 5/16/2012 Orig. Price: $339,000
Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $336
Rooms: 6 Beds: 2 Baths: 2f 1h Living Area: 1770 Tax: $4016
Garage: 1 Parking: 3 Pets: -- Year Built: 1999 Fy: 2012
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Remarks: Desired convenient location to train to Boston - just 2 minute walk. Easy access to route 95. Huge
livingroom/diningroom combination with sliders to rear patio.Bright cheerful well applianced kitchen. Present owners
have invested in finishing the 3rd floor and added hardwood on 2nd. Garage parking with 2 additional parking spaces. 2
minute walk to Boston trains.
MLS #: 71451462 Status: SLD DOM: 76 Sale Price: $309,000 List Price: $309,000
4q [La 45 Turtle Brook Drive U:45 List $/SqFt: 174.77 Sale Date: 1/16/2013 List Date: 10/25/2012
~|Canton, MA 02021 Sold $/SqFt: 174.77 Off Mkt. Date: 1/9/2013 Orig. Price: $309,000
(8 | !|Style: Condo - Townhouse Outdoor Space: Yes - Private Assoc.Fee: $150
Efe rooms: 6 Beds: 2 Baths: 2f ih Living Area: 1768 Tax: $0
Garage: 0 Parking: 1 Pets: Yes Year Built: 2011 Fy: 2012
Remarks: The condo you have been waiting for! Light and bright end unit townhouse featuring tons of space and a
great open layout. First floor open concept featuring living room, dining room, and kitchen with slider off to rear patio.
Full basement with fireplace perfect for a media room or family room, 2 full and 1 half bathrooms, 2 spacious
bedrooms, kitchen with stainless steel appliances and breakfast bar, central air, and so much more. Over 1700 sf of
living space over 3 levels. Move right in!
3/7/2013 1:32 PMSource page 35
pinergy MLS #: 71333765 15 Evergreen Cir U:15 Canton, MA 02021 Style: Condo - Townhouse Rooms: 7 Beds: 2 Garage: 1 Parking: 3 Status: SLD http://h3a.mlspin.com/search/Print_Reports.asp?ClientDetails= DOM: 10 Sale Price: $310,000 List $/SqFt: 160.81 Sale Date: 4/11/2012 List Date: 1/31/2012 Sold $/SqFt: 163.5 Off Mkt. Date: 2/10/2012 Orig. Price: $304,900 Outdoor Space: Yes - Common Assoc.Fee: $375 Living Area: 1896 Tax: $4063 Year Built: 1999 Fy: 2011 List Price: $304,900 Baths: 2f 1h Pets: Unknown Remarks: Pre Approval or proof of funds required with offers. P&S and UNCHANGED addendums must be returned within 48 hours or home will be returned to active status. Seller may take 5 to 7 business days to respond to all offers. Buyer deposits MUST BE bank check or money order. Sold AS IS. NO REPAIRS! PLEASE USE ATTACHED OFFER REQUIREMENTS FORM WITH OFFER OR IT WILL NOT BE SUBMITTED! This property is eligible under the Freddie Mac First Look Initiative through2/ 15/2012 SI MLs #: 71362847 See 40 Curtis Rd U:40 iia Canton, MA 02021 1 Style: Condo - Townhouse Rooms: 7 Beds: 2 Garage: 1 Parking: 2 Status: SLD DOM: 26 List $/SqFt: 211.18 Sold $/SqFt: 201.43 Sale Price: $310,000 List Price: $325,000 Sale Date: 7/13/2012 List Date: 4/5/2012 Off Mkt. Date: 5/1/2012 Orig. Price: $325,000 Outdoor Space: -- Assoc.Fee: $350 Baths: 2f ih Living Area: 1539 Tax: $4274 Pets: Yes w/ Restrictions Year Built: 2003 Fy: 2011 Remarks: First resale in this complex since it was built. Granite kitchen, hardwood in LR and Kitchen. large rooms. gas fireplace in LR., Two finished rooms in basement. Convenient location near Canton Center.MBR bathroom has whirlpool tub. If you can find a better deal than you should buy it. Best deal for the $$. Please give as much notice as possible. MLS #: 71410417 50 Evergreen Cir U:50 Canton, MA 02021 Status: SLD ee a 7-7 aL ba Oa ile 1) Vie Style: Condo - Townhouse Beds: 2 Parking: 1 Rooms: 6 Garage: 1 DOM: 77 Sale Price: $312,000 List Price: $319,900 List $/SqFt: 180.73 Sale Date: 10/12/2012 List Date: 7/16/2012 Sold $/SqFt: 176.27 Off Mkt. Date: 10/1/2012 Orig. Price: $329,900 Outdoor Space: -- Assoc.Fee: $336.50 Baths: 2f ih Living Area: 1770 Tax: $4002 Pets: -- Year Built: 1999 Fy: 2012 Remarks: Spectacular unit in Sherman Woods with walking distance to train station. * Fully applianced kitchen with quartz counters, newer appliances, hardwood floors, eating area*Large liv/dining rm. with gas fireplace, flat screen TV over the fireplace hardwoods, and slider leading to a patio* Two huge bedrooms on the second floor with two full baths* Bright and airy loft with hardwood floors- could be used as an office, great rm.or bedroom* Immaculate condition - nothing to do but move in. MLS #: 71335183 Status: SLD 395 Bolivar St U:395 28-8 8S) |canton, MA 02021 ase E- ai (jar Style: Condo - Townhouse = Rooms: 4 Beds: 2 Garage: 0 Parking: 3 DOM: 0 Sale Price: $315,000 List $/SqFt: 250 Sale Date: 6/15/2012 List Date: 2/6/2012 Sold $/SqFt: 242.31 Off Mkt. Date: 2/6/2012 Orig. Price: $325,000 Outdoor Space: Yes - Common Assoc.Fee: $180 Living Area: 1300 Tax: $0 Year Built: 2012 Fy: 2012 List Price: $325,000 Baths: 2f Oh Pets: Yes Remarks: Beautiful New Construction Duplex Style Townhouse featuring a wide open floor plan with custom granite kitchen, center island & seperate dining area, Irg family room w/ gas fireplace, 2 large bedrooms, 2nd floor laundry, hardwood floors throughout, top quality construction w/ lots of detail molding, private deck, full basement, nice size yard, convenient location. ; nt MLS #: 71460030 Status: SLD as aie " |22 Evergreen Circle U:22 ¥ Fel ly Canton, MA 02021 hall Style: Condo - Townhouse /Rooms: 6 Beds: 2 =| Garage: 1 Parking: 3 DOM: 50 Sale Price: $324,250 List $/SqFt: 194.92 Sale Date: 1/31/2013 List Date: 11/26/2012 Sold $/SqFt: 183.19 Off Mkt. Date: 1/15/2013 Orig. Price: $345,000 Outdoor Space: Yes - Common Assoc.Fee: $345 Living Area: 1770 Tax: $3895.76 Year Built: 1999 Fy: 2012 List Price: $345,000 Baths: 2f ih Pets: -- Remarks: Mint Condition End Unit Townhouse located in desired Sherman Woods, features include a tile & oak eat in kitchen, spacious open floor plan w/ dning room & generous size living room w/ gas fireplace & slider to private back & side yard areas, master suite w/ private full bath, finished 3rd floor family room or possible 3rd bedroom, 1 car garage & 2 additional exterior parking spaces, convenient location, only seconds to train station - truly a commuters dream! 3 of 4 3/7/2013 1:32 PM
Source page 36
pinergy http://h3a.mlspin.com/search/Print_Reports.asp?ClientDetails= ~)MLS #: 71351498 Status: SLD DOM: 34 Sale Price: $325,000 List Price: $325,000 119 Revere U:H List $/SqFt: 180.36 Sale Date: 5/4/2012 List Date: 3/14/2012 Canton, MA 02021 Sold $/SqFt: 180.36 Off Mkt. Date: 4/17/2012 Orig. Price: $325,000 Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $375 |Rooms: 7 Beds: 2 Baths: 2f Oh Living Area: 1802 Tax: $3727 Garage: 1 Parking: 1 Pets: -- Year Built: 1998 Fy: 2011 Remarks: Beautiful spacious and open floor plan townhouse in a great commuter location! 2 full baths & 2 large bedrooms, Master bath, 2 large closets in master bedroom! Open living room with gas fireplace. Dining room off the kitchen. Sunny and bright kitchen. Slider to deck w/ terrific views. Huge second floor family room or game room. Incredible amount of storage. Large laundry room and pantry. 1 Car garage. Private path from complex to train station. Close to downtown Canton and all the amenities. MLS #: 71335180 Status: SLD DOM: 0 Sale Price: $335,000 List Price: $325,000 391 Bolivar St U:391 List $/SqFt: 250 Sale Date: 6/15/2012 List Date: 2/6/2012 fb 8&8 6 8 Canton, MA 02021 Sold $/SqFt: 257.69 Off Mkt. Date: 2/6/2012 Orig. Price: $325,000 TELE a Fahd fy) |Style: Condo - Townhouse Outdoor Space: Yes - Common Assoc.Fee: $180 = — ~~~ |Rooms: 4 Beds: 2 Baths: 2f Oh Living Area: 1300 Tax: $0 Garage: 0 Parking: 3 Pets: Yes Year Built: 2012 Fy: 2012 Remarks: Beautiful New Construction Duplex Style Townhouse featuring a wide open floor plan with custom granite kitchen, center island & seperate dining area, Irg family room w/ gas fireplace, 2 large bedrooms, 2nd floor laundry, hardwood floors throughout, top quality construction w/ lots of detail molding, private deck, full basement, nice size yard, convenient location. MLS #: 71363160 Status: SLD DOM: 144 Sale Price: $345,000 List Price: $360,000 4121 Revere U:M List $/SqFt: 180 Sale Date: 10/5/2012 List Date: 4/5/2012 ; Canton, MA 02021 Sold $/SqFt: 172.5 Off Mkt. Date: 8/27/2012 Orig. Price: $360,000 Style: Condo - Townhouse Outdoor Space: Yes - Common Assoc.Fee: $410 Rooms: 7 Beds: 2 Baths: 2f ih Living Area: 2000 Tax: $3875 Garage: 1 Parking: 6 Pets: Yes Year Built: 1998 Fy: 2011 Remarks: The "best of the best" This highly desireable end unit has it all. Over 2, 000 sq. ft, including a garage and loft w skylight. Central vac, security system, fireplace, gleaming hardwood floors, french doors to a balcony and sliders to a patio. Check out the eat-in designer kitchen with custom cabinets, granite, and stainless steel appliances.including a gas range. Close to the commuter rail , library, and downtown Canton. And, pet friendly too. What more could you want! MLS #: 71328455 Status: SLD DOM: 18 Sale Price: $380,000 List Price: $390,000 123 Revere St U:123G List $/SqFt: 201.76 Sale Date: 3/23/2012 List Date: 1/18/2012 Canton, MA 02021 Sold $/SqFt: 196.59 Off Mkt. Date: 2/5/2012 Orig. Price: $390,000 Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $478 Rooms: 8 Beds: 2 Baths: 2f 1h Living Area: 1933 Tax: $4298 Garage: 2 Parking: 2 Pets: Yes w/ Restrictions Year Built: 1998 Fy: 2011 Remarks: Carefree living at Paul Revere Village!! Fabulous, attached split-entry home. Largest floor plan in the "Village". Bright, sunny kitchen with oak cabinets and large pantry. 26 ft living room with a gas fireplace. Full dining room with sliders to a spacious deck. Two master bedroom suites, 1st and 2nd floor. Oversize family room with 9' ceilings. Oversize Jacuzzi. XLg two car garage, plus guest parking. Steps to the commuter rail and downtown shops. You deserve the best!! Condominium Listings: 19 Avg. Liv.Area SqFt: 1,715.16 Avg. List$: $315,816 Avg. List$/SqFt: $187 Avg. DOM: 78.89 Avg. Sale$: $309,192 Avg. Sale$/SqFt: $183 The information in this listing was gathered from third party sources including the seller and public records. MLS Property Information Network and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Content ©2013 MLS Property Information Network, Inc. 4 of 4 3/7/2013 1:32 PM
Source page 37
httn-//h2a mlenin enm/search/results.asp?printpage=yes &sortby=12
NORFOLK CO. ACTIVE ADULT SALES
(Last 12 Months)
18 Listings
Condominium Listings
MLS #: 71385859 Status: SLD DOM: 24 Sale Price: $250,000 List Price: $259,900
= 7/302 Village Lane U:302 List $/SqFt: 123.06 Sale Date: 7/17/2012 List Date: 5/21/2012
Th Bellingham, MA 02019 Sold $/SqFt: 118.37 Off Mkt. Date: 6/14/2012 Orig. Price: $259,900
Style: Condo - Townhouse Outdoor Space: Yes - Common Assoc.Fee: $285
Rooms: 3 Beds: 2 Baths: 3f Oh Living Area: 2112 Tax: $3106
Garage: 1 Parking: 1 Pets: Yes w/ Restrictions Year Built: 2001 Fy: 2012
Remarks: Move In Ready! * Come See This Energy Star Approved 2 Bedroom Townhome In Hartford Village -
Bellingham's Finest 55+ Adult Community * Open Floor Plan * Hardwood Flooring In Kitchen, Dining Area & Living Room
* First Floor Bedroom & Full Bath * Gas Log Fireplace * Master Suite on 2nd Floor * Fully Finished Basement That
Includes A Large Family Room With Unique Wood Ceiling & Recessed Lights * Full Bath & Additional Finished Room
Complete This Special Home * Convenient Location * Come See Today!
MLS #: 71357262 Status: SLD DOM: 128 Sale Price: $305,000 List Price: $319,000
10 VANDO WAY U:10 List $/SqFt: 151.9 Sale Date: 7/31/2012 List Date: 3/26/2012
Franklin, MA 02038 Sold $/SqFt: 145.24 Off Mkt. Date: 7/29/2012 Orig. Price: $349,000
Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $325
= |Rooms: 6 Beds: 2 Baths: 2f ih Living Area: 2100 Tax: $5020
Garage: 2 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2007 Fy: 2007
Remarks: BEST PRICE of any end unit! Private setting, beautifully decorated, many custom features-crown molding in
kitchen-open floor plan, dining room, great room with cath ceiling, gas fireplace - wonderful master suite, mstr bath, tub
and separate shower, plush carpet on stairway & loft-2nd bdrm & full bath on 2nd level- 2 other rooms waiting to be
finished-huge w/o bsmnt-plus 2 car garage. Best value in this desired adult community nestled on 68 acres of tranquility.
A must see!!
-__|MLS #: 71158536 Status: SLD DOM: 793 Sale Price: $310,000 List Price: $334,900
}989 East St U:206 List $/SqFt: 284.3 Sale Date: 1/18/2013 List Date: 11/3/2010
Dedham, MA 02026 Sold $/SqFt: 263.16 Off Mkt. Date: 1/12/2013 Orig. Price: $360,000
Style: Condo - Mid-Rise Outdoor Space: -- Assoc.Fee: $286
Rooms: 5 Beds: 2 Baths: 2f Oh Living Area: 1178 Tax: $4533.33
Garage: 0 Parking: 1 Pets: No Year Built: 2003 Fy: 2012
Remarks: Westbrook Crossing is Luxury Living at its Best! 55+ Adult Community! Originally Owned EXETER Model is
Freshly Painted & features New Bamboo Floors.Tray Ceilings in LR/DR & Guest/Master BR. Enjoy fresh air & wooded
views on your private 6X8 balcony off LR. Have Fun Living Life w/Complex Common Features:Elegant Entry Hall
w/comfortable seating & F/P;Screened Porch for those summer nights;Stay Fit w/well equipped Gym;Activity Rm. w/full
Kit. & F/P in banquet area.Swap Library/Conference Rooms too!
“a MLS #: 71152049 Status: SLD DOM: 644 Sale Price: $333,000 List Price: $329,900
ea 98 GREY WOLF DR U:98 List $/SqFt: 178.71 Sale Date: 8/30/2012 List Date: 10/18/2010
Franklin, MA 02038 Sold $/SqFt: 180.39 Off Mkt. Date: 7/23/2012 Orig. Price: $339,900
Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $215
/Rooms: 6 Beds: 2 Baths: 2f 1h Living Area: 1846 Tax: $0
Garage: 1 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2012 Fy: 2010
Remarks: ACTIVE ADULT COMMUNITY. HUGE KITCHENS. FABULOUS FIRST FLOOR LIVING! BEAUTIFUL VIEWS .
FRONT PORCH & REAR DECK. MAINTENANCE FREE EXTERIOR LOW CONDO FEES ! FIRST FLR MASTER, 9 FT
CEILINGS, HARDWOODS, TILE, GRANITE, MAPLE CABINETS. VERY OPEN FLOOR PLAN. CATHEDRAL FAMILY RM. W/
GAS FP. MINUTES TO TRAIN, DOWNTOWN & ALL COMMUTE ROUTES. LOVELY SERENE NEIGHBORHOOD SETTING.
DON'T WAIT UNITS ARE UP & READY FOR DELIVERY. OPEN HOUSE EVERY WEEKEND.
tee|MLS #: 71413019 Status: SLD DOM: 80 Sale Price: $345,600 List Price: $339,900
135 GREY WOLF DR U:135 List $/SqFt: 184.13 Sale Date: 2/15/2013 List Date: 7/23/2012
Franklin, MA 02038 Sold $/SqFt: 187.22 Off Mkt. Date: 10/11/2012 Orig. Price: $339,900
Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $215
Rooms: 6 Beds: 2 Baths: 2f 1h Living Area: 1846 Tax: $0
Garage: 1 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2012 Fy: 2010
Remarks: ACTIVE ADULT COMMUNITY. HUGE KITCHENS. FABULOUS FIRST FLOOR LIVING! BEAUTIFUL VIEWS .
7 FRONT PORCH & REAR DECK. MAINTENANCE FREE EXTERIOR LOW CONDO FEES ! FIRST FLR MASTER, 9 FT
CEILINGS, HARDWOODS, TILE, GRANITE, MAPLE CABINETS. VERY OPEN FLOOR PLAN. CATHEDRAL FAMILY RM. W/
GAS FP. MINUTES TO TRAIN, DOWNTOWN & ALL COMMUTE ROUTES. LOVELY SERENE NEIGHBORHOOD SETTING.
DON'T WAIT UNITS ARE UP & READY FOR DELIVERY. OPEN HOUSE EVERY WEEKEND.
1 of 4 3/10/2013 3:08 PMSource page 38
http://h3a.mlspin.com/search/results.asp?printpage=yes &sortby=12
; =|MLS #: 71434841 Status: SLD DOM: 8 Sale Price: $390,000 List Price: $399,900
=) 1 Francesco U:1 List $/SqFt: 169.45 Sale Date: 11/19/2012 List Date: 9/13/2012
Franklin, MA 02038 Sold $/SqFt: 165.25 Off Mkt. Date: 9/21/2012 Orig. Price: $399,900
| Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $372
=| Rooms: 7 Beds: 3 Baths: 2f 1h Living Area: 2360 Tax: $5248.98
. 1 Garage: 2 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2004 Fy: 2012
Remarks: Lovely 3 bedroom in a desirable wooded setting of Oak Hill's active adult community. This stunning,
beautifully decorated home boasts all the upgrades, originally the builder's model. Upgraded kitchen&bath granite
counters, crown molding, ceiling fans & lights, hardwoods & carpet. Architectural details throughout this attractive layout
including custom cabinetry and builtins, especially the office and spectacular walk-in master closet. Private yard with
beautiful flowers, walkway, and patio.
MLS #: 71291633 Status: SLD DOM: 526 Sale Price: $392,944 List Price: $369,900
é Cs 15 Cassandra Avenue U:29-15 List $/SqFt: 184.95 Sale Date: 8/16/2012 List Date: 9/23/2011
Franklin, MA 02038 Sold $/SqFt: 196.47 Off Mkt. Date: 6/11/2012 Orig. Price: $399,900
Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $352
Rooms: 6 Beds: 2 Baths: 2f ih Living Area: 2000 Tax: $0
Garage: 2 Parking: 4 Pets: Yes w/ Restrictions Year Built: 2010 Fy: 2011
B Remarks: SPECIAL PRICING ON ALL INVENTORY UNITS AT THE VILLAGES AT OAK HILL- THE AREA'S LUXURY ACTIVE
ADULT COMMUNITY NESTLED AMONG THE PINES ON 68 ROLLING ACRES WHERE RESIDENTS ENJOY STUNNING
VIEWS OF THE NEW ENGLAND LANDSCAPE WITH GROUNDS THAT FEATURE TRANQUIL PONDS AND WIDE EXPANSES
OF PRESERVED OPEN SPACE. CUSTOM KITCHEN DESIGNS WITH GRANITE COUNTERTOPS, CATHEDRAL GREAT
ROOMS WITH GAS FIREPLACES, FIRST FLOOR MASTER SUITES, LOFTS AND 2-CAR GARAGES. Spring Special $1, 500 in
oak hardwood flooring.
MLS #: 71458891 Status: SLD DOM: 49 Sale Price: $394,572 List Price: $389,900
Lot 20 Cassandra Avenue U:20 List $/SqFt: 173.44 Sale Date: 2/28/2013 List Date: 11/19/2012
Franklin, MA 02038 Sold $/SqFt: 175.52 Off Mkt. Date: 1/7/2013 Orig. Price: $389,900
| Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $345
= Rooms: 6 Beds: 2 Baths: 2f ih Living Area: 2248 Tax: $0
Garage: 2 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2012 Fy: 2012
V} Remarks: The Villages at Oak Hill is Franklin's Premier Active Adult Community. This expanded Chestnut plan is an end
unit with 2248 SF of living area and a 2-car attached garage. All of our homes feature the finest appointments including
granite countertops and stainless steel appliances, gas fireplaces with marble surrounds, first floor master bedroom
suites, hardwood floors and stairs. Conveniently located just 3 miles from Route 495, Exit 16. Model Home open every
Thursday-Monday 11AM-4PM.
MLS #: 71453727 ~=Status: SLD DOM: 45 Sale Price: $409,520 List Price: $389,900
Lot 21 Cassandra Avenue U:21 List $/SqFt: 173.44 Sale Date: 12/27/2012 List Date: 11/2/2012
Franklin, MA 02038 Sold $/SqFt: 182.17 Off Mkt. Date: 12/17/2012 Orig. Price: $389,900
Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $345
Rooms: 6 Beds: 2 Baths: 2f ih Living Area: 2248 Tax: $0
Garage: 2 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2012 Fy: 2012
vO Remarks: The Villages at Oak Hill is Franklin's Premier Active Adult Community. This expanded Chestnut plan is an end
unit with 2248 SF of living area and a 2-car attached garage. All of our homes feature the finest appointments including
granite countertops and stainless steel appliances, gas fireplaces with marble surrounds, first floor master bedroom
suites, hardwood floors and stairs. Conveniently located just 3 miles from Route 495, Exit 16. Model Home open every
Thursday-Monday 11AM-4PM.
MLS #: 71286287 Status: SLD DOM: 172 Sale Price: $432,000 List Price: $495,000
, ell 12 Russell Rd U:402 List $/SqFt: 393.48 Sale Date: 4/10/2012 List Date: 9/12/2011
Wellesley, MA 02482 Sold $/SqFt: 343.4 Off Mkt. Date: 3/2/2012 Orig. Price: $515,000
Style: Condo - Mid-Rise Outdoor Space: -- Assoc.Fee: $656
= Rooms: 4 Beds: 2 Baths: 2f 0h Living Area: 1258 Tax: $3708.04
Garage: 0 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2007 Fy: 2012
Remarks: Wellesley Hollow.HC Access. Wonderful maintenance free convenience and sophisticated one floor of living,
; this age 55+ adult living penthouse offers sleek design and fabulous decor. 2 BR, 2 full baths with a lovely granite, cherry
& stainless kitchen. Stunning first floor"Club Room" for large entertaining, fitness center and elevator make this a perfect
transition home.Two assigned parking spaces. Convenient location within minutes of all major routes.Intercom/Camera
at front door & in unit.
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http://h3a.mlspin.com/search/results.asp?printpage=yes &sortby=12 MLS #: 71187084 Status: SLD DOM: 435 Sale Price: $449,900 List Price: $449,900 = ¥ 13 Rockville Meadows U:13 List $/SqFt: 173.04 Sale Date: 4/28/2012 List Date: 2/10/2011 A A Millis, MA 02054 Sold $/SqFt: 173.04 Off Mkt. Date: 12/21/2011 Orig. Price: $439,900 y! | ‘a Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $285 Rooms: 6 Beds: 2 Baths: 2f 1h Living Area: 2600 Tax: $0 Garage: 2 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2009 Fy: 2011 Remarks: ABSOLUTELY THE FINEST SETTING OF ANY ADULT COMMUNITY!!!MODELS OPEN EVERY DAY 11-4 THIS UNIT IS FRAMED AND OFFERS FULL WLAKOUT BASEMENT FOR FUTURE ADDITIONAL SPACE. THIS OVER 55 COMMUNITY IS SET ON BEAUTIFUL 27 ACRES. MINUTES TO TRAIN. ALL HOMES OFFER PRIVATE ENTRANCES AND REAR DECKS FOR PRIVACY. GREAT FLOOR PLANS! UNPARRALLED CONSTRUCTION! THE LOW DENSITY OF HOMES AND UNIQUE FLOOR PLANS SEPERATES ROCKVILLE MEADOWS FROM ALL OTHERS! THIS UNIT IS A STARLING. MLS #: 71187085 Status: SLD DOM: 720 Sale Price: $459,900 List Price: $459,900 __ 114 Rockville Meadows U:14 List $/SqFt: 201.18 Sale Date: 10/1/2012 List Date: 2/10/2011 am : Millis, MA 02054 Sold $/SqFt: 201.18 Off Mkt. Date: 10/1/2012 Orig. Price: $449,900 rr, Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $285 eae ee Rooms: 6 Beds: 2 Baths: 2f ih Living Area: 2286 Tax: $0 —E Garage: 2 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2011 Fy: 2011 Remarks: Compare Rockville Meadows to all the others & you will agree it is the best value of any aduly community. Set on 27 sprawling acres, each home offers light, bright & spacious rooms. There is ample privacy. Quality construction with all the granite, tile & custom amenities. ABSOLUTELY THE FINEST SETTING OF ANY ADULT COMMUNITY. This unit is the lark. MLS #: 71440437 = Status: SLD DOM: 56 Sale Price: $475,000 List Price: $525,000 197 Sandtrap Cir U:197 List $/SqFt: 287.99 Sale Date: 12/27/2012 List Date: 9/26/2012 Weymouth, MA 02190 Sold $/SqFt: 260.56 Off Mkt. Date: 11/21/2012 Orig. Price: $525,000 Style: Condo - Detached Outdoor Space: -- Assoc.Fee: $253 Rooms: 7 Beds: 2 Baths: 2f ih Living Area: 1823 Tax: $6349 Garage: 2 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2004 Fy: 2012 > Remarks: Beautiful & spacious 1 level home features hardwood floors throughout, vaulted ceilings, gas fireplace, lots of upgrades. Welcoming granite, cherry kitchen with SS appliances & breakfast bar. 2.5 baths, Sunroom. Lots of closet space and full basement with finished room and bath for game or craft room. Neutral decor throughout. 2 car garage, CAir, CVac, sec sytm, This is a beautiful adult golf community with 20% being allowed under 55 years of age. Your Carefree Lifestyle is Here at Weathervane! MLS #: 71390385 Status: SLD DOM: 899 Sale Price: $479,900 List Price: $479,900 12 Rockville Meadows U:12 List $/SqFt: 184.58 Sale Date: 9/27/2012 List Date: 6/1/2012 Millis, MA 02054 Sold $/SqFt: 184.58 Off Mkt. Date: 8/21/2012 Orig. Price: $479,900 Style: Condo - Townhouse Outdoor Space: -- Assoc.Fee: $285 Rooms: 6 Beds: 2 Baths: 2f 1h Living Area: 2600 Tax: $0 Garage: 2 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2009 Fy: 2012 Remarks: See First hand what makes Rockville Meadows the Best adult community in the area. Superior construction, more standard amenities, granite, tile, a/c, custom kitchen. Light, bright & spacious rooms. Private residential setting. All this together with the price makes this the best adult community value any where. Easy commute, 3 miles to T 20 to Boston. Model unit #5 open everyday 9-4 ABSOLUTELY THE FINEST SETTING OF ANY ADULT COMMUNITY! MLS #: 71441119 Status: SLD DOM: 135 Sale Price: $484,500 List Price: $489,000 23 Mulligan Dr U:23 List $/SqFt: 270.17 Sale Date: 2/14/2013 List Date: 9/24/2012 Weymouth, MA 02190 Sold $/SqFt: 267.68 Off Mkt. Date: 11/30/2012 Orig. Price: $499,000 "Style: Condo - Detached Outdoor Space: Yes - Private Assoc.Fee: $242 Rooms: 6 Beds: 2 Baths: 2f Oh Living Area: 1810 Tax: $6269 Garage: 2 Parking: 4 Pets: Yes w/ Restrictions Year Built: 2004 Fy: 2012 Remarks: Watch Autumn unfold from the deck of this captivating free standing unit in sought after Weathervane Complex. Features easy one floor living with master bedroom suite, guest bedroom and bonus family broom with sliders to deck. Located on a quiet cul-de sac, this unit offers single family living with little upkeep. Finished room in basement is perfect in-home office. Weathervane is an active adult community with easy access to restaurants and shopping. 3 of 4 3/10/2013 3:08 PM
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4 of 4 http://h3a.mlspin.com/search/results.asp?printpage=yes &sortby=12 MLS #: 71347885 Status:SLD DOM: 23 Sale Price: $487,000 List Price: $549,000 )10 Rose Court Way U:10 List $/SqFt: 297.72 Sale Date: 4/30/2012 List Date: 3/7/2012 i] Walpole, MA:East Walpole 02032 Sold $/SqFt: 264.1 Off Mkt. Date: 3/30/2012 Orig. Price: $549,000 Style: Condo - Detached Outdoor Space: Yes - Common Assoc.Fee: $427 = Rooms: 6 Beds: 2 Baths: 2f ih Living Area: 1844 Tax: $5908 |Garage: 2 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2004 Fy: 2012 Remarks: Stunning 2 bedroom, 2 1/2 bath, 1844 sf detached townhouse condo located on Bird Pond with spectacular water views. First floor master suite, living room, dining room, and large eat-in kitchen, 2nd floor bedroom with ensuite bath, and large open loft sitting area. Additional walk-out lower level family room with potential for 3rd bath and guest room. 2 car garage and 2 car driveway. This adult community of 45 homes is sited on beautifully landscaped grounds on a private roadway. smmmelMLS #: 71391370 Status: SLD DOM: 52 Sale Price: $530,000 List Price: $564,900 ee Hl4g Sandtrap Circle U:48 List $/SqFt: 249.96 Sale Date: 8/30/2012 List Date: 6/1/2012 | Weymouth, MA:South Weymouth 02190 Sold $/SqFt: 234.51 Off Mkt. Date: 7/23/2012 Orig. Price: $564,900 Style: Condo - Detached Outdoor Space: Yes - Private Assoc.Fee: $253 Rooms: 8 Beds: 2 Baths: 2f ih Living Area: 2260 Tax: $5792.4 Garage: 2 Parking: 2 Pets: Yes w/ Restrictions Year Built: 2003 Fy: 2011 Remarks: This beautiful upgraded unit is truly ready to move into. Includesbuilt-in flat screen tv, over fireplace, new washer, dryer and refrigerator. New carpet over hardwood firs in Ir &dr.Full infinished basement, Sun room looks out onto golf course and trees. Nice size patio off sun room.This is an adult community with 20% being allowed under 55 years of age. No one under age 18 allowed. Pets with some restrictions are allowed. MLS #: 71371902 Status: SLD DOM: 36 Sale Price: $600,000 List Price: $629,000 8 Rose Court Way U:8 List $/SqFt: 277.58 Sale Date: 7/16/2012 List Date: 4/23/2012 Barpote, MA 02032 Sold $/SqFt: 264.78 Off Mkt. Date: 5/29/2012 Orig. Price: $629,000 Style: Condo - Detached Outdoor Space: Yes - Common Assoc.Fee: $509 Rooms: 8 Beds: 2 Baths: 3f ih Living Area: 2266 Tax: $7240 Garage: 2 Parking: 4 Pets: Yes Year Built: 2003 Fy: 2012 Remarks: Originally the model home at Riverwalk Commons, an active adult community. This home includes many luxury features such as sauna, designer kitchen with premium cabinets, granite & high-end stainless appliances & heated garage. Sit on your deck beneath the awning overlooking the river for ultimate relaxation. Second floor guest suite includes large loft, bedroom and full bath. Finished basement boasts second gas fireplace in family room, full bath, sauna, walk out plus two additional bonus rooms. Condominium Listings: 18 Avg. Liv.Area SqFt: 2,038.06 Avg. List$: $431,933 Avg. List$/SqFt: $220 Avg. DOM: 268.06 Avg. Sale$: $418,269 Avg. Sale$/SqFt: $212 The information in this listing was gathered from third party sources including the seller and public records. MLS Property Information Network and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Content ©2013 MLS Property Information Network, Inc. 3/10/2013 3:08 PM