This inviting 3-bedroom, 1.5-bathroom home offers 1,536 sq ft of comfortable living space. Located in the Dunn’s Marsh neighborhood in Madison, Wisconsin, this 2-story property includes a 2-car attached garage, making it perfect for families or those seeking extra space.
The main level features a fully equipped kitchen with a dishwasher, stove, refrigerator, and microwave, complemented by durable vinyl and carpet flooring. Step outside to enjoy the yard and relax on the back deck. This home is in walking proximity to nearby parks and bike paths, providing ample opportunities for outdoor recreation and relaxation.
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Affordable Home Features
2421 Dunns Marsh Terrace, Madison, WI 53711
Listing Price: $302,500
- 2-Story
- 1,536 sq ft
- 3 bedroom
- 1.5 bathroom
- 2 car attached garage
Appliances:
- Dishwasher
- Stove
- Refrigerator
- Microwave
- Central AC
Flooring:
- Vinyl and carpet
Parking:
- 2 Car attached garage
Outdoor Space:
- Yard
- Deck
Utilities:
- MG&E, Madison Municipal Services
- Cable & Phone
School District:
- Madison Metropolitan School District. To learn more about schools CLICK HERE
MACLT Homes & Eligibility Criteria
This home is a permanently-affordable Community Land Trust (CLT) home. Under the CLT model, you buy your house at a below-market-rate price — and in return, if you ever sell your land trust home, you agree to sell your home to another income-eligible household at a below-market-rate price. The unit has permanent affordability restrictions placed on it by MACLT and the City of Madison. MACLT has a resale formula to set the price of the home when you move out. The resale formula which governs the resale price is: Sale price = Initial purchase price + 1% simple interest per year home owned + Qualified Capital Improvements.
The CLT model helps keep land affordable for future generations to meet the needs of the community. You can learn more at www.maclt.org.
To qualify to buy this home, the following conditions must apply:
ELIGIBILITY CRITERIA FOR THIS HOME
- Household income must be below 80% county median income (see table below).
- You must not own other residential property at the time of closing.
- You must not have owned another home in the last 3 years.
- The maximum amount of “liquid assets” that you can have in reserves after closing cannot exceed the equivalent of twelve months of Principal, Interest, Taxes, Insurance and lease fees.
- Attend an MACLT Orientation with staff.
- Be pre-approved for a mortgage with a partnered MACLT lender at the value of the home available, with down-payment or down-payment assistance.
- Attend a HUD-certified Home Buyer Education Workshop (completion certificate valid for 18 months) See here for a schedule of courses.
- Meet all City of Madison guidelines. To review the City of Madison’s full income and asset guidelines CLICK HERE.
You should first fill out our MACLT Pre-application to begin the process!
Pre-applications should be submitted as soon as possible. All other eligibility criteria do not need to be met in any order; however, all must be met before a prospective buyer can close on a CLT home. If multiple people are interested in a home, a top buyer will be selected according to an equity-based point system according to MACLT’s Applicant Selection Criteria.
Upcoming MACLT Orientations
The MACLT orientation will provide an overview of the Madison Area Community Land Trust Homeownership Program, which you can additionally learn more about at our website (www.maclt.org). Orientations are required to buy a home with MACLT.
Wednesday, February 19th at 5:30 PM on Zoom
- Virtual Zoom, Register→ HERE for Virtual Orientation on 2/19/2025
Thursday, February 20th at 12 Noon on Zoom
- Virtual on Zoom, Register→ HERE for Virtual Orientation on 2/20/2025
Orientations are required to purchase a home. Contact housing@maclt.org if you need assistance or cannot make the scheduled time but are interested in this home.
2421 Dunns Marsh Terrace Floor Plans
