1025 Cottonwood Street
Application round for 1025 Cottonwood Street will open on Thursday, June 25, 2026
Overview
Price: $250,000 (CLT sales price)
Assistance: Up to $100,000 in affordability assistance, amount determined based on household income
Prospects qualified for mortgages of $150,000 or more are encouraged to applyEstimated market value: Approximately $290,000 (fee simple value)
Income requirement: This home is available to households earning under 120% of Area Median Income (AMI)
Key Features
3 bedrooms
2 bathroom
Updated kitchen with new appliances
Beautiful refinished original hardwood floors
Single-car garage
Beautiful fenced-in backyard with established plants
What is a CLT?
Homebuyers purchase the home’s structure and improvements, while GFCLT retains land ownership to keep the price affordable. When you sell in the future, you share a portion of the appreciation with GFCLT to preserve affordability for the next buyer.
About Eligibility
To qualify for GFCLT homes, households typically must:
Live or plan to live in Grand Forks County
Earn ≤ 120% of area median income
Be able to qualify for a mortgage through a GFCLT-participating lender
How It Works
A community land trust separates ownership of land from the home. You buy the home and build equity, while GFCLT retains the land to keep prices permanently affordable.
Working With a Realtor
GFCLT will pay a 3% commission to buyer’s agents upon closing.