In an effort to help address the need for affordable housing, Matthew 25 is offering two new single-family homes for sale in Cedar Rapids.
The homes are located at 806 Fifth Ave. SW, close to Cedar River Academy at Taylor Elementary, and at 515 Ninth St. NW, near the Cultivate Hope Corner Store.
The Watts Group is the builder for both homes.
The new construction homes are high-quality, featuring quartz countertops, soft-close hinges on cabinets, contemporary lighting, and high-efficiency furnaces – features that are unusual in the affordable housing realm, according to a news release.
The homes are built with energy and low maintenance costs in mind, making them both sustainable and affordable.
Additional features of the three-bedroom, two-bath homes include a large front porch, finished basement with spacious living room, an open-concept kitchen with island, numerous windows to allow for natural light, a parking pad and ENERGY STAR appliances.
“At a time of a national housing crisis, Matthew 25 is working hard to create high quality, affordable housing that will add to the vibrancy of the neighborhoods where we work,” said Clint Twedt-Ball, founder and executive Director of the nonprofit Matthew 25.
Homebuyers must make 80% or less of the area median income and plan to live in the home.
Matthew 25 has received grants to lower the cost of the home from the building costs of $286,000 to $224,500.
In addition, lenders are offering other opportunities to lower the cost of the home by up to $58,000 through subsidies and grants. Information on specific subsidies is available through the Neighborhood Finance Corporation.
More information on purchasing one of the homes is available at the Matthew 25 website, matthew-25.org/new-homes, or by calling (319) 362-2214.
