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17 Linc Cole Lane is part of a ten-lot subdivision on a 5-acre property. The subdivision consists of 9 single family homes and three condominium units located on one lot. The property contains a historic Greek Revival-style home dating back to the 1850s which will be renovated and converted into a duplex. As part of this renovation, a new addition will be constructed on the existing 1850s structure. Within this addition, there will be a moderate-income housing unit designed to blend seamlessly with the character of the home. This affordable unit will feature 2 bedrooms, 1.5 bathrooms, and a one-car garage.
The development is in the south-eastern portion of Lexington, primarily a residential area, less than a half mile from Route 2 interchange to the south and a half mile to Wilson Farm to the north. The new subdivision road is located off Pleasant Street approximately one mile from the Minuteman Bikeway that runs 10 miles from Bedford Center to Alewife Station in Cambridge.

Unit # 17:
2 bedroom 1-1/2 bathrooms (1,327 SF)

The building is being built under the conditions of the intensive Specialized Energy code of the Town of Lexington that eliminates any use of fossil fuels as a power source and requires use of all electric sources for heating, hot water, and cooking as well as an abundance of EV chargers and accommodations for bicycles to focus on environmentally friendly means of transportation for residents.

This new home includes foam insulation, an electric heat pump HVAC system, and a heat pump water heater for energy efficiency. The heated, attached one-car garage has automatic openers. Interior finishes include Pella windows, GE appliances, white kitchen cabinets with an island, quartz countertops, and SIP oak floors. The full bathroom has a Kohler tub, tile floor and surround, Toto toilets, and Symmons faucets and valves. Additional features include recessed lighting, Schlage hardware, skimcoat plaster walls, and maintenance-free exterior trim and siding.

The purchase price to an eligible buyer for a 2BR is $600,000 set to be affordable to a buyer at or below 150% of the Boston Area Median Income. Homeowners are also required to pay monthly real estate taxes, and the Lexington tax rate is $12.23 per $1,000 of valuation. The estimated monthly property tax is $591/month. The condominium fee is estimated at $175.40 /month, and the Condominium Association has rules and regulations for all owners that describe the operation of the condominium.

This property is offered at a discounted rate and, as such, this and all future sales of the property will be in accordance with those guidelines and Deed Rider to the unit. This property will be sold below the market price with deed restrictions which protect the property in perpetuity using resale price limitations.

Showings are by appointment only, and only after the application and mortgage pre-approval has been submitted.
Please contact the agent below at the Regional Housing Services Office for any questions or to submit your application:
Jenicia Pontes
Regional Housing Services Office
37 Knox Trail, Acton, MA 01720
(978) 287-1091
JenP@rhsohousing.org