YORKTOWN, N.Y. – A two-bedroom home is about to hit the market in Yorktown, but you won’t find it on Zillow.
The $121,000 single-family residence is one of 13 affordable homes developed in Yorktown between 1988 and 1995 as part of the town’s Affordable Housing Program, said Ken Belfer, chair of the town’s Community Housing Board.
“The town no longer has laws and policies that mandate the creation of affordable housing,” Belfer said at last week’s Town Board meeting, meaning an opportunity like this is rare. In fact, it has been 18 years since one hit the market.
“This represents a very unique opportunity,” Belfer added. “When one of those homes comes up for resale, when the owner of the home no longer wants it, then it has to be offered for resale through the program.”
The application window opened Tuesday, July 21, and will remain open until Friday, Aug. 14. The home will be awarded through a lottery.
“This is a fantastic opportunity, because how else can you get a two-bedroom single-family home in Yorktown for about $121,000?” Belfer said.
The home, at an undisclosed address, is about 1,100-square-feet and has two bedrooms, one bathroom, a foyer, a deck, a dining area, and a one-car garage. It is also part of a homeowner’s association, which provides access to a swimming pool and tennis courts.
Qualified applicants cannot earn more than 80 percent of the county’s average median income (AMI). That is $80,500 for two people, $90,640 for three people, and $100,640 for four people, which is the maximum household size for a two-bedroom home. There are no residency requirements for applicants.
For 2019, the combined town, county, and Lakeland School District taxes were $5,590. Homeowner’s association fees are currently $125 per month.
The selected applicant must able to make a down payment and obtain a mortgage. If there are no eligible applicants, the town has the ability to increase the AMI limit to 90 percent.
Deed restrictions prevent the homeowner from reselling the house for a profit. The house must also be used as a primary residence, meaning it cannot be rented by the buyer.
Applications for the two-bedroom home are available on the town of Yorktown’s website, or by contacting the town clerk’s office (Yorktown Town Hall, 363 Underhill Ave., Yorktown Heights). The phone number is 914-962-5722, ext. 209. The clerk can also be contacted by email at email@example.com.