3325 GARFIELD AVE MINNEAPOLIS MN 55408

PID: 0302824230135

Property Overview

Parcel ID0302824230135

Lot Size5,505 sq ft (0.126 ac)

Lot Dimensions (est.)129 ft wide × 43 ft deep

Year Built1920

Property ClassRESIDENTIAL

OwnerCATHERINE CLAYBORNE ET AL

Assessed Value$356,500

Land Value$147,000

Building Value$209,500

Annual Tax$5,295

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Qualified Census Tract (QCT)High

Within a HUD-designated Qualified Census Tract — LIHTC projects here receive a 30% basis boost, significantly increasing the tax credit allocation for affordable housing development.

HUD — LIHTC Qualified Census Tracts ↗

Potential programs

LIHTC 30% Basis BoostMedium

Affordable housing developments in QCTs receive a 30% increase in eligible basis for Low Income Housing Tax Credits — materially improving project feasibility. Allocated through MHFA.

HUD — LIHTC Qualified Census Tracts ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Minneapolis

Median reported rent1,022/mo

Renter-occupied73.1%

Median home value$318K

Vacancy rate5.5%

ACS rents reflect current tenant leases and may differ from new market rents.

Source: 2022 ACS 5-Year Estimates · Census Tract 82

Market Snapshot

Zip code 55408

Median sale price$390K+6.8% YoY

Median price / sqft$243/sqft

Median days to close62 days

Active listings73

Source: Redfin Data Center (Invalid Date) · Zip 55408

Zoning

UN2Urban Neighborhood 2

Urban Neighborhood 2 — moderate-density residential

Typical Uses

·Duplexes
·Triplexes
·Small apartment buildings (≤4 units)

Max Height35 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width33 ft

Buildable depth88 ft

Area~2,908 sqft

Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.

Development Feasibility

Likely Infeasible

Back-of-envelope estimate based on small multifamily (2–4 units, wood frame) benchmarks for 2,908 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3321 GARFIELD AVE MINNEAPOLIS MN 55408	JUSTIN J ANDERSON ETAL	RESIDENTIAL	$395,700	42 ft
3329 GARFIELD AVE MINNEAPOLIS MN 55408	L A JOHANSSON & D M PRINCE	RESIDENTIAL	$436,100	43 ft
3333 GARFIELD AVE MINNEAPOLIS MN 55408	G M SCHAEFER & M J HARLAN	RESIDENTIAL	$278,900	85 ft
3317 GARFIELD AVE MINNEAPOLIS MN 55408	DANIEL J BENDER REV TR ET AL	RESIDENTIAL	$493,800	85 ft
3315 GARFIELD AVE MINNEAPOLIS MN 55408	A O LOVEJOY & I TCHOUKARINE	RESIDENTIAL	$392,700	128 ft
3324 HARRIET AVE MINNEAPOLIS MN 55408	ERIN HARVEY	RESIDENTIAL	$291,100	141 ft
3328 HARRIET AVE MINNEAPOLIS MN 55408	DANIEL B MOORE	RESIDENTIAL	$333,900	147 ft
3320 HARRIET AVE MINNEAPOLIS MN 55408	A MYSLIS & C C EICHRODT	RESIDENTIAL	$363,600	148 ft
3332 HARRIET AVE MINNEAPOLIS MN 55408	E A STEMPLE & A D STEMPLE	RESIDENTIAL	$425,200	164 ft
3316 HARRIET AVE MINNEAPOLIS MN 55408	AMANDA KORTE & JEFFERSON FEE	RESIDENTIAL	$345,700	165 ft

Property History

Most Recent Sale

Date201912

Price$368,050

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$5,295