111 S 1st Ave Unit #16
Price $699,000
A BCHA 3-bedroom, 2-bathroom community home is available for sale in the heart of Ketchum at the Residences at Evergreen Condominiums. This home is restricted with a Category Local Light deed restriction: there is no income limit but there is an overall household net worth limit of $516,320. There is no cap on appreciation of the home, but it must be sold to another qualified local household.
Property Details
Property Details
- 1275 square foot condominium
- 3 bedrooms, 2 bathrooms
- 1 secure, covered parking space
- Storage unit
- Large, covered balcony
- Dishwasher, washer/dryer, stainless steel hood and electric glass top stove
- Pets allowed
- HOA Dues: $3,174.02 per quarter ($1,058 per month).
- Current Special Assessment of $1,430 billed quarterly, ends October 1
Process:
If you are interested in applying for this home, please ensure that you have an up-to-date Common Intake Form with BCHA and email [email protected] requesting the full application. Please note that applications will not be considered complete without a pre-qualification letter from a lender dated within the past 90 days. Applications must be submitted and fully complete by May 15. Offers will be due May 20.
To be eligible to purchase:
Home is subject to a Category Local Light Deed Restriction:
If you are interested in applying for this home, please ensure that you have an up-to-date Common Intake Form with BCHA and email [email protected] requesting the full application. Please note that applications will not be considered complete without a pre-qualification letter from a lender dated within the past 90 days. Applications must be submitted and fully complete by May 15. Offers will be due May 20.
To be eligible to purchase:
- Households must qualify as “local,” with at least one adult either a Local Employee, Local Senior or Local Person with a Disability
- No household members may own other developed residential real estate
- Household net worth may not exceed $516,320 (after purchase, no limit on net worth)
Home is subject to a Category Local Light Deed Restriction:
- No limit on household income.
- Requires occupancy at least 9 out of 12 months
- No short-term rentals
- No long-term rentals without BCHA approval
- Roommate(s) allowed but must be qualified by BCHA as locals. Owner can set the rent.
- At least one member of household must remain a qualified local throughout ownership.
- Owner is subject to annual compliance review.
- May only sell the property to another qualified local household.
- No limit on maximum sale price or appreciation (may sell for any price a qualified household is willing to pay).
| bcha_a_a_categorylocallight.pdf |
| bcha_ownership_locallight.pdf |
| bchasubordinate_program_mortgage-locallight.pdf |