4 Nook Road
Overview
Lease and Income Structure
The two-family layout is the reason to look at this one. Two separate units under one roof let an operator do things a single-family will not: run gender-separate programming, phase levels of care, or put a live-in mentor somewhere with a door that closes. All twenty-four beds are shared, which keeps the revenue model simple and the weekly rate accessible.
It sits in Plymouth on the South Shore, about forty miles from Boston and a few minutes from 230 Summer Street. Same market, same referral network, different building. A buyer taking both would run them with one contractor and one closing team.
Roughly $60,000 brings the property to stabilized operating condition, and an itemized scope is available on request. Draw financing can be arranged against completed work, with headroom above the budget for whatever turns up after closing, so the rehab is not a second check you write. Vanderburgh places a first position mortgage at closing and finances a second position seller note behind it, which is what holds the cash to close down against the purchase price.
Final bed count belongs to the operator, set against the applicable certification standard and the local occupancy limit rather than the number on this page. Plan for a lead paint inspection before housing residents, and confirm septic and municipal requirements with the board of health. This suits an operator who wants a second house in a market they already know, or a passive owner with an operator lined up.
Work Needed
A value-add renovation budget of approximately $60,000 has been allocated to bring the property to a stabilized operating condition. An itemized scope of work is available to qualified parties on request.
Renovation draw financing can be arranged against completed work, leaving headroom above the current budget for scope discovered after closing or for elective upgrades without requiring additional buyer capital. A buyer intending to house residents should plan for lead paint inspection and should confirm septic and municipal requirements with the local board of health as part of diligence.