MASON CITY, Iowa – The city of Mason City has listed its first house for sale renovated through the neighborhood home ownership and stabilization program.
The project is designed to help communities with a large number of rental properties stay competitive in the housing market.
The house on First Avenue Northeast was first purchased back in February. They have repainted the house, put in new flooring on the lower level and put in a new kitchen.
The city paid around $42,000 for the property and are asking for $59,000 after the rehab. Those with the city say they did have the property appraised at over $69,000.
Those interested in owning the home must qualify to purchase and must submit an application for a mandatory bidding process per state code.
“We felt that this neighborhood was starting to see some redevelopment with Good Shepherd building their new facility just a block away and also where we moved the flood homes on the 300 block of East State,” says Steven Van Steenhuyse, Mason City director of development services. “This seems like an area where people would be looking.”
Those looking to apply must do so before noon on Dec. 19. If none of the buyers who apply qualify, Van Steenhuyse says they will open up the bidding.