Boston offers new income-restricted three-bedroom condo on Norwell Street for $393,120
The city is selling the first-floor accessible unit at 104 Norwell St. to a first-time buyer household earning no more than the area median income, the city's housing office said Wednesday.
The city of Boston is offering a newly built, income-restricted three-bedroom condominium at 104 Norwell St. for $393,120, the city's housing office said Wednesday.
The unit is open to households earning no more than 100% of the area median income, according to the city. For a one-person household, that limit is $120,000 a year; it rises to $154,300 for three people and $198,850 for a household of six. The city said the limits are based on federal Department of Housing and Urban Development data refined by the Massachusetts Housing Partnership and the city.
Buyers must be first-time homebuyers and must complete an approved homebuyer education course before closing, the city said. Income and asset limits apply, and the condo is deed-restricted with owner-occupancy requirements. The city said it gives preference to households with at least one person per bedroom.
The 1,162-square-foot unit has one bathroom and is on the first floor, built to Americans with Disabilities Act mobility standards, according to the listing. It includes hardwood floors, laundry hookups, a fresh-air filtration system and solar panels meant to lower electricity costs. The estimated monthly condo fee is $440.95.
The city said the building sits next to a new park and directly across the street from commuter rail access.
The Boston Home Center has posted a recorded virtual information session on the deed restrictions and is taking expressions of interest from prospective buyers, the city said.
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