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East Lansing home Listed at $45,000 Offers Affordable Housing Option
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East Lansing, MI – A four-bedroom, two-bathroom manufactured home located at 16430 Park Lake Rd #236 is currently listed for $45,000, presenting a possibly significant affordable housing opportunity in the area. The property, identified by MLS #578876, offers 1,568 square feet of living space.
The listing,featured on Zillow,includes thirty-one photos showcasing the interior adn exterior of the home.Details indicate the property is a manufactured home, offering a different ownership structure then traditional site-built houses.
Property Details & Timeline
The home’s availability comes as housing costs continue to rise nationally and locally. Finding affordable options is increasingly challenging for many prospective buyers.
| Feature | Detail |
|---|---|
| Address | 16430 Park Lake rd #236 |
| City, State | East Lansing, MI |
| Zip Code | 48823 |
| List Price | $45,000 |
| Bedrooms | 4 |
| Bathrooms | 2 |
| Square Footage | 1,568 sq ft |
| MLS Number | 578876 |
Affordable housing is a critical need in our community,
stated a representative from the East Lansing Housing Commission (personal dialog, October 26, 2023). The availability of this property could provide a valuable option for families or individuals seeking homeownership.
Did You Know? …
Manufactured homes often offer a lower purchase price compared to traditional homes, but financing and land ownership can differ.
Understanding manufactured Home Ownership
unlike traditional homes, manufactured homes are built in a factory and transported to the home site. This construction method can lead to cost savings. However, potential buyers should carefully consider the details of land ownership and financing options. According to the U.S. Department of Housing and Urban Advancement (HUD), manufactured homes must meet federal safety standards [HUD Code](https://www.hud.gov/program_offices/housing/rmra/mhs/mhshome).
Pro tip: …
Always secure pre-approval for a loan before making an offer on a manufactured home,and research park fees if the home is located in a manufactured home community.
“The demand for affordable housing continues to outpace supply in many markets,” notes a recent report by the National Association of Realtors.
The listing on Zillow provides detailed photographs and information about the property’s features. Interested parties are encouraged to contact the listing agent for a showing and further details.
What factors do you think are most important when considering a manufactured home? Would you share this listing with someone looking for affordable housing options?
Trends in Affordable Housing
The demand for affordable housing is a long-term trend driven by factors such as population growth, rising construction costs, and stagnant wages. Manufactured homes represent one potential solution, offering a more accessible path to homeownership for some. However, challenges remain in terms of financing, land availability, and community acceptance.
Frequently asked Questions
- What is a manufactured home? A manufactured home is
