291 N Second Ave, Ketchum
Three deed-restricted community homes are now available for sale in the Hyperborean Condominiums. These homes are restricted with a Category Local Light deed restriction with the City of Ketchum. There is no income minimum or maximum to qualify to purchase these homes. Household net worth is limited to $516,320, with exceptions for retirement accounts at the time of qualification. The Category Local Light deed restriction does not limit appreciation: an owner may sell at whatever price another qualified local household is willing to pay.
Property Details
-Prices range from $468,000 to $499,000.
-Each unit is approximately 900 square feet.
-Pets are allowed.
-All units come with a washer/dryer, electric oven + range, refrigerator and dishwasher.
-Each unit includes one private, outdoor parking space.
-Each unit has an additional external storage closet.
-HOA Dues: ~$533 per month. Includes water, sewer, garbage, and snow removal.
-Homes are restricted with a Category Local Light deed restriction.
-Prices range from $468,000 to $499,000.
-Each unit is approximately 900 square feet.
-Pets are allowed.
-All units come with a washer/dryer, electric oven + range, refrigerator and dishwasher.
-Each unit includes one private, outdoor parking space.
-Each unit has an additional external storage closet.
-HOA Dues: ~$533 per month. Includes water, sewer, garbage, and snow removal.
-Homes are restricted with a Category Local Light deed restriction.
Unit 1, Third Floor
-Price: $499,000
-2 bedroom, 2 bathroom
-916 square feet
-Price: $499,000
-2 bedroom, 2 bathroom
-916 square feet
Unit 2, Second Floor
-Price: $468,000
-3 bedroom, 2 bathroom
-911 square feet
Unit 3, Ground Floor
-Price: $468,000
-2 bedroom, 2 bathroom
-906 square feet
-All new LVP flooring, kitchen cabinets, and kitchen appliances
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)
-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 City approval
-Roommate(s) allowed but must be qualified by the City 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).
-No limit on household income.
-Requires occupancy at least 9 out of 12 months
-No short-term rentals
-No long-term rentals without City approval
-Roommate(s) allowed but must be qualified by the City 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).