Wonderful opportunity to buy a Madison Area Community Land Trust home!
This is a 1420 square foot 3 bedroom, 2 bathroom bungalow built in 2001.
Some additional features are:
- Filtered water in kitchen
- New deck
- New retaining wall on the side of the garage
- Updated concrete on driveway
- New garage door opener
The price for this home is $137,273
When you buy a home from the Madison Area Community Land Trust, you:
- Purchase the house but not the land (this lowers your purchase price).
- Lease the land from the land trust under a 98-year renewable ground lease — which is as close to forever as we can make it.
- Buy your house at a below-market-rate price — and in return, if you ever sell your land trust home, you agree to sell your home to another income-eligible household at a below-market-rate price.
- The resale formula, which governs the resale price, is pretty simple: you get (a) what you paid for the home, plus (b) 25% of the increase in market value.
If you would like to be considered for this home, and are within the income limits below, please fill out this Pre-application, and return it to Karen@MACLT.org. We will be process the applications in the order that they are received.
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To buy a MACLT home a buyer’s household GROSS household income (before taxes) must be less than the amounts below.
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Household size
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Gross annual income limit
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1
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$52,850
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2
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$60,400
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3
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$67,950
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4
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$75,500
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5
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$81,550
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6
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$87,600
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7
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$93,650
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8
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$99,700
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2019 Annual Gross Income Limit
80% Dane County Median Income
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