Main Street Flats

312 Main Street North, Cambridge, MN 55008

Waiting List Forecast: Likely Short or None

check_circleVerified for 2019 by Connor Bailey, Bobby Kiefert, Joshua Cappell

Rent	Beds	Baths	SqFt
Call for Rents^†	1 - 2 Beds	1 Bath	786 - 905 Sq Ft

Call (763) 552-6090 Email

Waitlist Forecast

Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.

Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.

Main Street Flats was built in December of 2018, and offers one and two bedroom apartments. The apartments provide high efficiency amenities including: washer and dryers in every home, kitchen island, additional storage space and plenty of cabinet space. Kitchens are furnished with a refrigerator, range, and dishwasher. Other features are patios/balconies, kitchen pantries, large closets and 24 hour maintenance. Main Street Flats is located within walking distance of all downtown Cambridge amenities.

Dave's Thoughts On Main Street Flats

This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Main Street Flats does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes.

~ Dave Layfield, Founder of Affordable Housing Online

Main Street Flats Amenities

Elevator
Playground
Community Room
Garage
Off-Street Parking
Central Air
Dishwasher
Microwave
Extra Storage
Water Trash and Sewer Included
Secured Entry
Cable & Internet Ready
Washer and Dryer Included
Private Patios
24 Hour Maintenance

Units at Main Street Flats

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	786ft²	Call for Price^†
2 Bedroom (2/1)	905ft²	Call for Price^†

Income Qualification for Main Street Flats

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

AMI*	1 person	2 people	3 people	4 people
50% AMI for LIHTC Units	$43,500 / year	$49,700 / year	$55,900 / year	$62,100 / year
50% AMI for PBRA Units	$43,500 / year	$49,700 / year	$55,900 / year	$62,100 / year
60% AMI for LIHTC Units	$52,200 / year	$59,640 / year	$67,080 / year	$74,520 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Main Street Flats

Does Main Street Flats have a waiting list?

Main Street Flats probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at Main Street Flats?

We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.

What property management company manges Main Street Flats?

Main Street Flats is managed by MetroPlains Management, LLC headquartered in Devils Lake, North Dakota.

In addition to Main Street Flats, how many other affordable housing properties (and units) are there in Cambridge?

In addition to Main Street Flats, we list 19 other affordable properties in Cambridge. Learn about these properties here. Our data research shows that there are a total of 365 affordable units in Cambridge.