95 Elizabeth St, Albany, NY 12202

Sold AS IS. Neighbors for Neighborhoods is a grant-funded program that enables the transformation of vacant and deteriorated properties into quality, affordable rental housing and creates local ownership to help stabilize and revitalize neighborhoods that were severely affected by the foreclosure crisis. Buyers Primary residence must be within fifteen (15) miles of or within the same municipality as the participating property; Demonstrate that they are responsible property owners or landlords and have no current or prior negative real estate history, including, but not limited to property tax delinquency, code violations, liens, or foreclosures; Have previously or currently owned two (2) or less rental properties; Demonstrate sufficient financial capacity to purchase and maintain a participating property; Provide a down payment or equity investment; Have experience or training in managing and/or maintaining rental properties; Commit to renting all units to local low- and moderate-income residents who earn no more than 80% of the Area Median Income (AMI) at lease up and maintain rents at levels of no more than 30% of 80% of AMI each year, and; Commit to completing a first-time homebuyer and/or landlord training course(s) prior to closing.