These homes are priced for you, not for investors
Dougherty Commons condos are income-restricted: they’re sold only to households earning at or under 100% of Area Median Income, and by law they can only ever be resold to other income-qualified families. That keeps them permanently affordable — and it’s why a brand-new, energy-efficient condo starts at $268,800 (1-bedroom) or $325,000 (3-bedroom) instead of market rate.
The monthly cost often rivals rent
A 1-bedroom runs roughly $1,600–$2,200/month all-in (mortgage, taxes, condo fee, insurance, and utilities), and a 3-bedroom about $2,000–$2,800. Because the homes are all-electric, heat-pump heated, and DOE Zero-Energy-Ready, winter electric bills are low — roughly $144–150/month for a 1BR and $209–250 for a 3BR, heat included. A planned rooftop solar array helps stabilize those costs.
You can get in for very little cash
Between MaineHousing’s Advantage grant ($5,000), the First Generation grant ($10,000), and possible FHLB grants, some buyers have reached the closing table with under $3,000 in cash — one buyer put just $2,200 down. MaineHousing loans are also exempt from the real-estate transfer tax, saving buyer and seller about $600 each.
And unlike rent, it builds wealth
Every payment pays down principal you keep, the resale price rises with Area Median Income, and if you itemize you deduct mortgage interest and property tax. MCDP’s own analysis shows a 1-bedroom owner ~$105,000 ahead of a renter after 10 years. See the full comparison →