3140 COLFAX AVE S MINNEAPOLIS MN 55408

PID: 0402824110174

Property Overview

Parcel ID0402824110174

Lot Size3,933 sq ft (0.090 ac)

Lot Dimensions (est.)129 ft wide × 31 ft deep

Year Built1900

Property ClassRESIDENTIAL

OwnerRYAN LEE SHAFFER

Assessed Value$384,600

Land Value$155,000

Building Value$229,600

Annual Tax$6,942

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Potential programs

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

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 rent1,449/mo

Renter-occupied73.2%

Median home value$398K

Vacancy rate2.1%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 81

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 width20 ft

Buildable depth91 ft

Area~1,823 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 1,823 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
3136 COLFAX AVE S MINNEAPOLIS MN 55408	SCOTT D MERTH & LILA J BOLKE	RESIDENTIAL	$349,400	31 ft
3142 COLFAX AVE S MINNEAPOLIS MN 55408	A SPIELDOCH & B HUNTINGTON	RESIDENTIAL	$389,700	31 ft
3132 COLFAX AVE S MINNEAPOLIS MN 55408	LAWRENCE THOMAS	RESIDENTIAL	$452,100	69 ft
3144 COLFAX AVE S MINNEAPOLIS MN 55408	L C GENSHEIMER/T M SARACINO	RESIDENTIAL	$556,000	69 ft
3128 COLFAX AVE S MINNEAPOLIS MN 55408	GRANT ENGLISH/SHARON ULRICH	RESIDENTIAL-TWO UNIT	$448,300	115 ft
3148 COLFAX AVE S MINNEAPOLIS MN 55408	DOUGLAS J PRYCE	RESIDENTIAL	$522,000	115 ft
3139 DUPONT AVE S MINNEAPOLIS MN 55408	MARIAN J PLUMMER	RESIDENTIAL-TWO UNIT	$591,800	141 ft
3135 DUPONT AVE S MINNEAPOLIS MN 55408	2437 DUPONT LLC/1932 EMERSON	APARTMENT	$1,430,000	149 ft
3145 DUPONT AVE S MINNEAPOLIS MN 55408	MARIAN J PLUMMER	RESIDENTIAL-TWO UNIT	$452,900	157 ft
3124 COLFAX AVE S MINNEAPOLIS MN 55408	DANIEL J JUOLA	RESIDENTIAL-TWO UNIT	$409,200	161 ft

Property History

Most Recent Sale

Date201905

Price$332,500

TypeQUIT CLAIM DEED

Current Tax Year

Year2026

Tax Due$6,942