521 4th Avenue South

Overview

  • Price: $150,000 (CLT sales price)

  • Assistance: Up to $65,000 in affordability assistance, amount determined based on household income

  • Estimated market value: Approximately $195,000 (fee simple value)

  • Income requirement: Due to subsidy restrictions, this home is available to households earning under 80% of Area Median Income (AMI)

Key Features

  • 2 bedrooms

  • Finished basement with egress window

  • 1.5 bathrooms (full bath upstairs, main floor powder room)

  • Beautiful kitchen and spacious living room

  • Detached single-stall garage

  • Located just minutes from downtown stores, employers, and restaurants

Apply
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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 (GFCLT refers local lenders)

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. This encourages professional representation and helps buyers navigate financing and inspections.