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311 Village Street, Medway, MA 02053
$1,398,000

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Amazing Opportunity to Own this Stunning Multifaceted property located on the Charles River & Medway Dam at the site of the Old Campbell Paper Mill. Masterfully designed with exceptional detail, superior craftsmanship and Serene & Spacious floor plan. Chef’s Kitchen w/Commercial Appliances, Dining Area & Fireplace Family Rm with Walls of Glass opens to Covered Patio w/European Arches & Brick columns along riverside of home. Unbelievable 5 Separate Bedroom Suites on 3 levels. Master Suite features His & Her Bathrooms, Steam Shower, Spa Tub Enclave of Windows with Spectacular Views, Fireplace, Laundry & Closets! Entertaining is a MUST with "Movie" Screen Media Rm & Custom Hand-Crafted 12' Bar. Additional Separate Carriage House has 2 bedrooms, kitchen, laundry & 2 car garage. Main Garage offers the ability to park 6 cars plus work space. Plenty of Living Area for a Growing Family, In Laws/ Au Pair & Guests! Open House, Sun. Feb. 10th from 1 to 2:30.

INVESTMENT HIGHLIGHTS

List Price
$1,398,000
Gross Living Area
8,136 Sq.Ft.
Price per Sq.ft.
$172
Number of Units
2
Price per Unit
$699,000
Taxes
$19,339
Down Payment 25%
$349,500
Loan Amount
$1,048,500
Monthly Payment 4.5%
$5,313
Net Operating Income
$36,328
Annual Cash Flow
($27,428)
Cash on Cash Return
-7.8%
Cap Rate
2.6%
Condo Conversion Equity
$172,248
Year Built
2006
Lot Size
49,267 Sq.Ft.
Basement
Y
Assessed Value
$1,095,100
Bedroms
9
Bathrooms
7 full / 2 half
Parking Spaces
20
Garage Spaces
5

ANNUAL INCOME & EXPENSE BREAKDOWN

Income
Projected
Gross Scheduled Rent
$62,580
Less 5.0% Vacancy
$3,129
Net Rental Income
$59,451
Other Income
$0
Total Operating Income
$59,451
Expenses
Projected
Real Estate Taxes
$19,339
Insurance
$1,500
Water/Sewer
$500
Heat
$0
Electric
$0
Trash Removal
$0
Management Fee
$0
Maintenance/Repairs
$1,784
Total Operating Expenses
$23,123
Net Operating Income
$36,328
Less Debt Service
$63,756
Potential Net Cash Flow
($27,428)
Cash on Cash Return
-7.8%
Cap Rate
2.6%
Condo Conversion Equity
$172,248

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Disclaimer: We do not guarantee the accuracy of the numbers provided are 100% accurate. But we are saying these are in fact rough estimates that you can use as a tool to help decide whether or not you’d like to continue to learn more about the property or not. We recommend doing your own due diligence or having a one of our agents do the leg work for you. There are just too many factors that can affect any of the projected numbers listed on any property on our website. Such factors beyond our control include but are not limited to: Financing Terms, Tax Rates, Overall Condition of Property, Investors ability to operate and manage property and tenants effectively.
This property is listed by The Kouri Team of Keller Williams Realty Boston South West. The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing, leasing or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

Wellsco Realty · 40R Merrimac Street, Newburyport, MA · (617) 212-3251