Green (+) = money in. Red (−) = money out. Slide controls to test scenarios.
Renovation capital
Steve contributes all or part of the building. Slide to see how it changes.
Steve's building contribution$1.61M
Construction cost per sq ft$175
Soft costs (architect, permits)15%
Financing costs10%
Construction time (months)12 mo
Rental income
Two units rented at AMI-capped rates. The tier sets the max rent.
Affordability level (AMI)
Post-renovation market rent$3,100
The affordability impact — what you're choosing to give back
Building expenses & Steve's care
Operating expenses
OpEx as % of income40%
Annual operating expenses$24,368
Steve's annual care budget$20K
Steve helps with expenses?
Rent increase per year2.5%
Expense increase per year4.0%
Both on the same 0–8% scale — see the gap:
Rent: 2.5%/yr
Expenses: 4.0%/yr
0%2%4%6%8%
Timeline
Steve lives in Unit 1 during this period. When Unit 1 becomes available, it goes back online as a third affordable rental — increasing the building's income by roughly 50%.
Steve's residency7 yrs
Total projection15 yrs
Key results
Year-by-year cash flow
All AMI tiers
Every tier from 50%–200%, with the market crossover flagged.
Important considerations
Conventional developer vs. Steve's method
What the terms mean
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189-191 Hamilton St. Appraisal: Beyond Appraisals Inc, 3/20/2025, as-is value $1,610,000. Rents: MHP 2025 Boston-Cambridge-Quincy. Utility allowance: BHA Aug 2025, $385/mo (2BR, gas heat, tenant-paid). Taxes: Cambridge FY26 $12,184. For planning purposes only — not financial, legal, or tax advice.