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1400 7th Avenue SE




This cheerful, recently fully rehabbed single family 3 bedroom / 1 bathroom home is listed at $67,500. The home is situated in picturesque New Wellington in the Cedar Rapids Community School District. Please contact Kathie Pennetta if you are interested in making this house your new home.

Not ready to purchase yet? You can start on the path to becoming a homeowner through our Homeownership Incubator Program. This "rent-to-own program" is designed for individuals that dream of becoming homeowners, but need to improve their credit scores before becoming eligible for a home loan. During the rental period, $100 of the $785 monthly rent will be deposited into an account for the renter to use towards his/her down payment. 

PAYMENT EXAMPLE:

  • Price: $67,500
  • 80% Loan: $54,000
  • 20% Down Payment: $13,500
  • Down Payment Assistance from the Affordable Housing Network: $12,500
  • Buyer's estimated closing cost $1,800 
  • Monthly Mortgage Payment on $54,000 loan 
    (30 years with 4% interest - APR 4.285%):

    $257.80

Complete remodel includes

  • New carpet
  • Refinished hardwood floors
  • Newly remodeled kitchen
  • All new appliances (stove, refrigerator, microwave, dishwasher)
  • Main floor laundry (off kitchen)
  • Bay window in dining area
  • Unfinished basement with ample storage
  • Central air
  • Large linen closet
  • Storage space in bathroom
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