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NOT READY TO PURCHASE?
Although the main focus of HomeStretch is home ownership, we do have ten low cost rentals. Eight of the units are two story townhouse style rentals on the corner of Aero Park Drive and Three Mile Road. The remaining two units are in the very first HomeStretch project, the duplex on Center Road.
All tenants must meet program eligibility requirements. Below is a list of the basic requirements:
- Income must be at or below 60% or 50% (depending on the unit) of the Area Median Income for the family size.
- Countable assets must be less than $10,000.
- Shelter costs should not exceed 40% of income.
- Debt to income ratio should not exceed 50%.
- No felony convictions in the past ten (10) years.
- No drug related convictions. If the conviction occurred while living in a HUD unit, the disqualification is for life.
In addition, all of our rentals are strictly non-smoking and there is no smoking permitted in the building or on the premises.
The above list is not all inclusive and tenants must meet all HomeStretch and MSHDA eligibility requirements. Contact our Managing Agent, Linda Hutchinson, at 944-9223 or send an e-mail to CompassHomeStretch@live.com if you have further questions.
CENTER ROAD DUPLEX
Nestled on a nicely wooded lot on Center Road, the duplex features two three- bedroom units on a single floor. The kitchen is furnished with stove and refrigerator and there is a large living/dining area. The rent for one of these units is $605 per month plus heat and utilities. One unit must be rented to a person or family whose income is at or below 60% of the Area Median Income (AMI) and one unit must be rented to a person or family whose income does not exceed 50% of the AMI.
 
The duplex features a large eat-in kitchen with appliances and plenty of cupboard and countertop space. The views above show the dining room as viewed from the living room and the kitchen as seen from the dining area.
 
The duplex also has a large living room with double windows to provide plenty of light. A coat closet is conveniently located by the front door.
 
The three bedrooms have large closets and generously sized windows.
 
The bathroom has a spacious countertop, cabinets and a large mirror. The photo on the left shows the view of the hallway from the living room toward the three bedrooms, conveniently clustered at one end of the duplex, affording privacy and quiet. The bathroom is located between the living and sleeping areas, easily accessible from both.
BAY OAKS TOWNHOUSES
Bay Oaks Apartments are eight townhouse style units on the corner of Aero Park Drive and Three Mile Road. These two-story rentals have a kitchen furnished with a stove and refrigerator, half bath, and large living/dining area on the first floor. The second floor has two bedrooms and a full bath. These townhouses rent for $494 per month plus heat and utilities. Two of these townhouses must be rented to a person or family whose income does not exceed 50% of the AMI and the remaining six units rented to a person or family at or below 60% of the AMI.
 
Above is the living/dining room and the kitchen of Bay Oaks. To the right is the Master Bedroom showing the large closet and window of the room. Vertical and Venetian blinds were installed after these photos were taken.
DO YOU ACCEPT SECTION 8 VOUCHERS?
HomeStretch does accept Section 8 vouchers. However, we do not have Section 8 funds or applications. We do not process Section 8 applications. Apparently our name is on a handout given out by “someone” - no on seems to know where the list originated - that gives us as a resource, and I have received many calls regarding this, but we have never had Section 8 funds or processed the applications. Check the MSHDA website for the official agencies handling Section 8 applications in your area.
WAITING LIST
Our Rental Waiting List is separate from our Homebuyer Waiting List and will function in a different way. As the need for a rental is usually a more urgent need, the Rental Waiting List is expected to be quite fluid, so less paperwork and pre-qualification is needed to be placed on the list. A simple application and verifications are all that is required initially. If you are still in need of housing when a vacancy occurs and your name is reached, further paperwork will be required and a determination of your eligibility will be made at that time.
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