2417 N Rural Avenue N

Indianapolis, IN 46218

Luxury Living at affordable pricing. This townhome has 2 bedrooms and 2.5 bathrooms, granite countertops, and stainless-steel appliances. This is an affordable housing build developed by Martindale Brightwood Community Development Corporation (MBCDC). Buyer's income must qualify under current HUD Income Limits. The property must be owner-occupied for a minimum of 10 years. INCOME RESTRICTIONS APPLY WITHOUT EXCEPTION! HUD HOME Program Income Limits - total combined household income of all members 18+ cannot exceed the following income thresholds: Household of 1: $54,150, Household of 2: $61,900, Household of 3: $69,650, Household of 4: $77,350, Household of 5: $88,500, Household of 6: $89,750. All buyers must apply for income approval to MBCDC. Room Sizes are not accurate.Interested buyers should be preapproved through their lender for a minimum amount of $175,000. The $50,000 difference will be listed as a second mortgage held by the City of Indianapolis as a grant which will fall off after 10 years. Please note: if the homeowner sells before 10 years, then the "grant" MUST be repaid back to the City before the seller receives any profit and must be sold to another owner-occupied buyer who earns 80% AMI.

This is an Active listing.

Broker Office Phone Number: 180-063-0172

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