5173 Great Gray Drive
Madison, WI, 53718
This newly constructed twin home offers a practical and comfortable path to homeownership on Madison’s east side.
Designed for everyday living, the home combines efficient use of space with durable finishes and an open, welcoming layout.
Priced at $240,000, the home is part of MACLT’s permanently affordable housing program and is available to income qualified buyers.
The home includes two bedrooms, a study, and one and a half bathrooms within 1,199 square feet of finished living space.
The open concept main level connects the kitchen and great room, creating a flexible and functional living area.
Additional features include a one car attached garage, solid surface countertops, and a concrete patio accessed from the kitchen.
In addition to the purchase price, buyers should plan for monthly MACLT fees totaling $100, which include a ground lease fee and a maintenance reserve.
A $40,000 down payment assistance program is available to qualified buyers and can significantly reduce upfront costs.
How to Buy This Home
To purchase this home, buyers must complete the following steps:
- Submit a MACLT pre application
- Obtain mortgage pre approval from a MACLT approved lender
- Submit an Intent to Purchase for this specific home
Homes are sold on a first come, first served basis.
If more than one eligible buyer submits an Intent to Purchase, selection is made according to MACLT’s established process.
Tours of this home are available by request. To schedule a tour, contact housing@maclt.org.
Eligibility Requirements
This home is available to households earning 80 percent or less of area median income and who meet MACLT program requirements.
To be eligible, buyers must:
- Meet the City of Madison’s full income and asset guidelines. To view, click here.
- Attend a MACLT orientation
- Complete a HUD certified Home Buyer Education workshop within the past 18 months
All eligibility criteria must be met before a buyer can close on a MACLT home.
If multiple eligible buyers are interested in the same home, selection is made according to MACLT’s equity based point system.
The table below shows the maximum allowable household income for this home based on household size, using 80 percent of the Dane County area median income guidelines.
Additional eligibility requirements specific to this home apply. Buyers should review all criteria carefully before submitting an Intent to Purchase.
For more information and additional photos of 5173 Great Gray Drive, click here.
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