Available
HOMES
NOW FOR SALE!
NEW CONSTRUCTION HOMES
New construction homes are available now in Thief River Falls! Two homes are fully complete and ready to be sold, with two more under construction.
Additionally, we have two more homes currently under construction in Red Lake Falls. Stay tuned for updates!
What is a
CLT?
A long-term solution for affordable home ownership opportunities in Northwest Minnesota.
Community land trusts create quality, affordable homeownership opportunities and preserve the affordability of homes for generations. CLTs accomplish this goal through new construction, acquisition and rehab of existing homes, or homebuyer-initiated purchase programs.
CLTs create quality affordable homeownership opportunities in two ways:
- Providing subsidy in the form 1st mortgage principal reduction, reducing the monthly payment burden to a level affordable to the first buyer, and;
2. Retaining ownership of the land on which the house is located, triggering a ground lease with a shared-equity resale formula. This allows the CLT to preserve the affordability of the home for generations.
Description: 2009 Greenwood ST E Thief River Falls, MN
(Located off of Highway 59 southeast of town)
This new construction single-family home is a slab on grade: 2-bedroom, 2-bath, with a double stall attached garage. Featuring 32-inch wide doorways throughout the home and a no-step entrance for mobility ease throughout the home. This home will be Energy Star Certified to ensure energy efficiency that will create utility savings for the household in years to come.
NOTE: The North Star Neighbors price of this home is $230,000, with up to $40,000 available in available subsidy to qualified buyers. North Star Neighbors makes its homes affordable in partnership with Minnesota Housing. If priced at market rate, the sales price of this home would be $286,000.
Households pre-qualified
for mortgages of $190,000 or more will be considered for this home.
NOTE: Because sales prices and subsidy options will vary, we encourage all households who have pre-qualified for mortgages of $150,000 or more to submit a pre-application at www.northstarneighbors.org/apply. NSN will review and correspond with all applicants to determine the best option for each household.
Description: 2030 Nelson Drive Thief River Falls, MN
(Located off of Highway 59 southeast of town)
This new construction single-family home is a 4-bedroom, 2-bath, with fully finished basement, with a double stall attached garage. Featuring 32-inch wide doorways throughout the home and a no-step entrance for mobility ease throughout the home. This home will be Energy Star Certified to ensure energy efficiency that will create utility savings for the household in years to come.
NOTE: The North Star Neighbors price of this home is $230,000, with up to $40,000 available in available subsidy to qualified buyers. North Star Neighbors makes its homes affordable in partnership with Minnesota Housing. If priced at market rate, the sales price of this home would be $351,000.
Households pre-qualified for mortgages of $190,000 or more will be considered for this home.
NOTE: Because sales prices and subsidy options will vary, we encourage all households who have pre-qualified for mortgages of $150,000 or more to submit a pre-application at www.northstarneighbors.org/apply. NSN will review and correspond with all applicants to determine the best option for each household.
We’ll soon have two more houses to share in Thief River Falls and additional houses in Red Lake Falls.
Check back soon for updates!
Max Price: $199,000 | Market Value: $351,000
Max Price: $195,000 | Market Value: $286,000
Max Price: $210,000 | Market Value: $339,000
Max Price: $210,000 | Market Value: $358,000
Max Price: $210,000 | Market Value: $314,000
