507 33RD ST W MINNEAPOLIS MN 55408

PID: 0302824230180

Property Overview

Parcel ID0302824230180

Lot Size3,179 sq ft (0.073 ac)

Lot Dimensions (est.)51 ft wide × 62 ft deep

Year Built1911

Property ClassRESIDENTIAL-TWO UNIT

OwnerKAREN A WILLIAMS LLC

Assessed Value$444,600

Land Value$107,000

Building Value$337,600

Annual Tax$8,411

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

3 permits on record since 2021 · $7K total declared value · Most recent: May 2025 (res)

ResMay 2025Inspection

Warners Stellian Co Inc

MiscJun 2023Expired

$7K

HIGHMARK EXTERIORS LLC

ResMar 2021Closed

Home Pro Services Inc

Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.

Neighborhood Profile

Lyndale · 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 width38 ft

Buildable depth26 ft

Area~200 sqft

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

Development Feasibility

Potentially Feasible

Back-of-envelope estimate based on sfr / adu benchmarks for 200 sqft buildable area.

Est. units

Yield on cost

6.5%

Spread

+1.0%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3304 HARRIET AVE MINNEAPOLIS MN 55408	R J DAHLSTROM & L DAHLSTROM	RESIDENTIAL	$536,000	60 ft
3302 HARRIET AVE MINNEAPOLIS MN 55408	KURT J FABER	RESIDENTIAL-TWO UNIT	$483,600	65 ft
3308 HARRIET AVE MINNEAPOLIS MN 55408	ROSEANNE NOWLAN	RESIDENTIAL	$435,700	85 ft
3301 GARFIELD AVE MINNEAPOLIS MN 55408	S PAJUNEN/F OLSON-BORGERDING	CONDOMINIUM	$204,900	101 ft
3301 GARFIELD AVE MINNEAPOLIS MN 55408	ASHLEY J WIESE	CONDOMINIUM	$191,400	101 ft
3301 GARFIELD AVE MINNEAPOLIS MN 55408	IAN ALLEN	CONDOMINIUM	$205,900	101 ft
3301 GARFIELD AVE MINNEAPOLIS MN 55408	RICHARD FAIRBANKS	CONDOMINIUM	$205,900	101 ft
MN	Unknown	—	—	101 ft
3305 GARFIELD AVE MINNEAPOLIS MN 55408	D M HERKENHOFF ET AL REV TR	RESIDENTIAL	$441,100	107 ft
510 33RD ST W MINNEAPOLIS MN 55408	C A CATTELL & J R WYGANT	RESIDENTIAL	$298,900	116 ft

Property History

Most Recent Sale

Date202304

Price$500,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$8,411