417 E Granger Ave

Description

Welcome to this stunning new construction ranch home w/ a 10 yr tax abatement. Situated near the East Village & vibrant downtown area, this home is built w/ superior craftsmanship & high-end materials designed to last. This home has 1,338 sq ft of spacious & thoughtfully designed layout featuring 3 spacious bedrooms, 2 bathrooms, & a beautifully designed kitchen features stainless-steel appliances, quartz countertops, a kitchen island w/ room for seating, tile backsplash, & a separate pantry space.

The main-level primary suite is located at the back of the house w/ a luxurious en-suite bathroom w/ tiled shower & walk-in closet. A covered front porch adds charm & creates the perfect spot to unwind, while the detached 2-car garage offers convenience & extra overhead storage. There is a concrete patio between the house & garage The lower level is framed & ready to be finished for future equity w/ a bedroom, bathroom & versatile living space.

Situated in a growing vibrant community, this property is located within the Invest DSM Special Investment District, making it an excellent opportunity for investment and growth.

The CICLT is dedicated to keeping homes affordable and will work with the selected homebuyer to ensure personal affordability for this home. At MINIMUM, the selected homebuyer must have a gross annual household income of $92,550 in order to be eligible for this specific property.

Facts & Features

Year Built: 2025

Home Type: Single Family Residence

Style: Farmhouse

Total Finished Square Feet: 1338

Basement: Yes - Unfinished

Garage: Detached 2 Car Garage

Heating: Gas

Cooling: Central Air

Water Heat: 40 Gallon Electric Water Heater

Sewer: Public Sewer

Water: Public

Appliances Included: Refrigerator, Stove, Dishwasher, Microwave, Washer, Dryer

HOA: No

Bonus Feature: Located in an Invest DSM Special Investment District!

The Buyer Selection Process

All applicants must be first be accepted into the Ready Buyer Pool through the Shared Equity Program. All qualified and approved Ready Buyers will have the opportunity to submit an application for the specific home of their choice. Only Ready Buyers are able and eligible to apply for Buyer Selection. Applications will be reviewed and scored based on established criteria. If multiple applicants receive the highest score, a lottery will be used to select the potential buyer.

The applicant who is selected will receive an email outlining the next steps.

Applicants who are not selected will be notified and will remain in the Ready Buyer Pool until their application is selected for a home or they decide to withdraw from the pool. Continuing to participate in housing education and counseling can help better prepare you for homeownership and we encourage you to continue with these programs.

Selected applicant must:

Sign an Intent to Purchase

Provide documentation to confirm eligibility

Meet with a lawyer to review the Ground Lease

Applicant must continue participating in counseling and meet all eligibility requirements through closing.

Eligibility Requirements for this property:

All applicants must be first be accepted into the Ready Buyer Pool through the Shared Equity Program, and maintain their status as a Ready Buyer.
Are a first-time homebuyer as defined by HUD
The CICLT is dedicated to keeping homes affordable and will work with the selected homebuyer to ensure personal affordability for this home. At MINIMUM, the selected homebuyer must have a gross annual household income of $92,550 in order to be eligible for this specific property.

How long is the application window open?

The application window will be open for 30 days.

What does "Minimum Household Income Required" mean?

In order to qualify for this home the total income from your household must be at or above this amount. To figure out your household income, add up any and all income made by the members of your household before taxes.

I applied, does that mean I get to purchase this home?

Applying does not guarantee selection for the purchase of one of our homes.

Once the application window closes, we will review all applications using an objective scoring system ensuring accuracy and fairness to assess a family’s financial and housing stability, ability to benefit from the program, and readiness for future homeownership.

The team will select the highest scoring and most qualified applicant for the purchase of the home. If multiple families score and qualify equally, a randomized lottery may be used to select the final applicant.

Can I apply for more than one home?

Yes! You can apply to each home you are interested in. But please only apply to each home once. Submitting multiple applications for the same home can delay the review process.

I need to update my application, what do I do?

Please contact our team to update you application. Email info@ciclt.org or call 515-243-1277. Please do not submit another application. Submitting multiple applications for the same home can delay the review process.

Will the timing of my application affect my score?

No. All applications submitted within the 30 day window receive the same consideration with our impartial scoring system to ensure fairness for all applicants.

How do I get a mortgage pre-qualification?

You can go to any bank or lender to get a mortgage pre-qualification.

How will I know if I was selected or not?

Applicants who are selected will receive an email outlining the next steps.

Applicants who are not selected will be notified and will remain in the Ready Buyer Pool until their application is selected for a home or they decide to withdraw from the pool. Continuing to participate in housing education and counseling can help better prepare you for homeownership and we encourage you to continue with these programs.

What is the definition of a first-time homebuyer?

An applicant is considered a first-time homebuyer if they have not had an ownership interest in a principal residence in the past three years. This definition also includes:

Individuals who have never owned a home.
Single parents who only owned a home jointly with a former spouse.
Displaced homemakers who previously owned only with a spouse.
Individuals who own or have owned a mobile home not permanently affixed to a foundation in accordance with local regulations.
Individuals whose only prior homeownership was a property that did not meet applicable building codes and could not be brought into compliance at reasonable cost.
Be a military member with discharge of other than dishonorable.

417 E GRANGER AVE

Applications Open

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ADDRESS

PHONE

EMAIL

1618 6th Ave.
Des Moines, IA 50314

(Housed inside the HOME, Inc. Office Building.)

515-243-1277

info@ciclt.org