70 Old Town Rd 2F Vernon, CT 06066-6405
PRD zone: 2.0 times the gross residential floor area. (b) Residential Commercial Zone: 2.3 times the gross residential floor area. (2) At the discretion of the Planning and Zoning Commission, each dwelling unit shall have constructed adjacent to it a patio, terrace or deck. Such space will be included as part of the livability space requirement. G. Minimum p…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
PRD · Vernon, CTPRD zone: 2.0 times the gross residential floor area. (b) Residential Commercial Zone: 2.3 times the gross residential floor area. (2) At the discretion of the Planning and Zoning Commission, each dwelling unit shall have constructed adjacent to it a patio, terrace or deck. Such space will be included as part of the livability space requirement. G. Minimum protective provisions. (1) All multi-family structures shall be entirely serviced by public sewers. (2) All multi-family structures shall be entirely serviced by a public water supply. H. This section is designed to allow the construction of multi-family units in excess of applicable density limits in accordance with a contract entered into, and between a developer and the Town to allow for the provision of affordable housing subject to the following criteria: (1) For each dwelling unit constructed by the developer in excess of the number of such units permitted by applicable density limits, the developer shall construct in the municipality within one year from the effective date of the contract, a unit of affordable housing, as defined in C.G.S. § 8-39a, which is of comparable size and workmanship. (2) For a period which shall not be less than 30 years from the date of completion of any units of affordable housing constructed pursuant to § 30-8.7H(1) , such units of affordable housing shall be offered for sale or rent only to persons and families having such income as specified under § 30-2.1 of these regulations but which shall not exceed the area median income of the municipality as determined by the United States Department of Housing and Urban Development. (3) The sale price or rent for any such unit of affordable housing shall not exceed an amount which shall be specified in such contract, provided such contract shall contain provisions concerning reasonable periodic increases of the specified sale price or rent. (4) Such units of affordable housing shall be conveyed by deeds containing covenants incorporating the terms and conditions contained in such contract between the developer and the municipality, which covenants shall run with the land and be enforceable by the municipality until released. (5) The requirements of these regulations shall apply to the resale, the purchase and subsequent leasing and the conversion the common interest form of ownership and subsequent sale of any unit of affordable housing during and for the remaining term of such period. I. Use variances.
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.