Home Available for Low-Income Applicant at 1514 Rand, Cape Girardeau Neighborhood Stabilization Program

A three-bedroom home is available for purchase by a lower-income applicant or applicants at 1514 Rand Street in Cape Girardeau, as a part of the Neighborhood Stabilization Program. Purchase price and assistance are as follows:
Appraised value           $99,000
Less 15% discount     – $14,850
                                        $84,150
20% down payment  – $16,830
SALE PRICE                    $67,320
All closing costs will be paid by the seller.
Applicants must meet income guidelines and participate in financial counseling, attend home buyer education classes, and work with the counselors on any credit or budgeting issues they may have. There are no restrictions on the current address of the applicant.
Income Guidelines
Applicants must have a household income below these thresholds to be eligible for the
Neighborhood Stabilization Program.

  • 1 person: $19,250
  • 2 person: $22,000
  • 3 person: $24,750
  • 4 person: $27,500

The City of Cape Girardeau was approved for a $648,000 grant for the acquisition, rehabilitation and resale of foreclosed homes to low income individuals and families. Several have been purchased in recent years and have been available to program participants.
Applications are available by contacting Stephen Williams in the City of Cape Girardeau Planning Services Division at (573) 339-6327 or swilliams@cityofcape.org. Additional program information is available from 4-Sight Counseling, Inc., Loretta Kincaid, by calling 573-579-8910.

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