Rehabilitated Wilmington home listed for $225,000 through affordable housing program

WILMINGTON, NC (WWAY) — A rehabilitated home in Wilmington is going on the market as part of an effort to provide permanently affordable homeownership opportunities.

Cape Fear Collective and Cape Fear Community Land Trust will host a ribbon-cutting ceremony and open house at 203 N. 11th St. on Friday, Oct. 16, at 2 p.m.

The two-bedroom, one-bathroom home is listed for $225,000.

According to the organizations, the home is available only to buyers who plan to live in the property and whose household income is at or below 80% of the U.S. Department of Housing and Urban Development’s area median income for New Hanover County, adjusted for household size.

Under the community land trust model, the land remains in the trust while the qualifying buyer purchases the home. The arrangement is designed to keep the property affordable for future buyers.

The public is invited to attend Friday’s ribbon-cutting ceremony and open house.