142 Western Ave

Lease terms

Still renting because qualifying for a mortgage has been difficult? 142 Western Ave may offer a different path toward future home purchase eligibility. This 3-bedroom, 1-bathroom home in Mansfield has recently undergone major improvements throughout the property and is now being offered as a lease-to-own opportunity for qualified applicants. The home was recently professionally appraised at $145,000 following updates and improvements completed throughout the property. 142 Western Ave offers approximately 1,348 sq ft of living space along with a full basement, covered porch areas, a durable metal roof, and additional attic space that may offer future finishing potential for additional living or storage space. Buyer to perform their own due diligence regarding future use possibilities. Recent updates include kitchen improvements, bathroom updates, flooring improvements, plumbing updates, electrical updates, cosmetic improvements, gutter work, and general repair and stabilization work throughout the home. Lease purchase terms include: Minimum $5,000 option consideration/down payment Monthly lease payment starting at $1,400/month Monthly homeowner's insurance reimbursement paid in addition to the lease payment 3-year lease term Annual payment increase of $75 per year Opportunity for tenant buyer to pursue traditional financing during the lease term This program may be a fit for buyers who have stable income but need additional time to improve credit or qualify for traditional financing. Tenant buyer responsible for utilities, maintenance/upkeep, renter's insurance, and monthly homeowner's insurance reimbursement.