3221 COLFAX AVE S MINNEAPOLIS MN 55408

PID: 0402824140042

Property Overview

Parcel ID0402824140042

Lot Size5,457 sq ft (0.125 ac)

Lot Dimensions (est.)129 ft wide × 42 ft deep

Year Built1903

Property ClassRESIDENTIAL-TWO UNIT

OwnerTIMOTHY SHAW/PETER SHAW

Assessed Value$900,100

Land Value$185,000

Building Value$715,100

Annual Tax$15,279

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

26 permits on record since 2017 · $317K total declared value · Most recent: Oct 2020 (addition)

AdditionOct 2020Closed

$15K

ADAPTABLE BUILDERS

ResOct 2020Closed

MN Plumbing & Home Services INC

ResJun 2020Closed

METRO GAS INSTALLERS

ResDec 2019Closed

Patton Heating And Air Conditioning Inc

ResNov 2019Closed

Warners Stellian Co Inc

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

Neighborhood Profile

South Uptown · 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 width32 ft

Buildable depth90 ft

Area~2,873 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 2,873 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
3225 COLFAX AVE S MINNEAPOLIS MN 55408	RDA UPTOWN I LLC	RESIDENTIAL	$358,500	42 ft
3217 COLFAX AVE S MINNEAPOLIS MN 55408	MEREDITH E KAPLAN	RESIDENTIAL	$388,000	42 ft
3215 COLFAX AVE S MINNEAPOLIS MN 55408	OLIVER HEYWOOD	RESIDENTIAL	$482,300	85 ft
3229 COLFAX AVE S MINNEAPOLIS MN 55408	ANNA BRANDI & JILLIAN BRANDI	RESIDENTIAL	$444,700	85 ft
3211 COLFAX AVE S MINNEAPOLIS MN 55408	JOHN LANDRY & NANCY MCCALL	APARTMENT	$576,000	127 ft
3233 COLFAX AVE S MINNEAPOLIS MN 55408	JAMES R & GAIL A RAINS	RESIDENTIAL	$452,000	127 ft
3218 BRYANT AVE S MINNEAPOLIS MN 55408	JEFFREY G JOHNSON	APARTMENT	$589,000	140 ft
3224 BRYANT AVE S MINNEAPOLIS MN 55408	BROBERG PROPERTIES I LLC	APARTMENT	$653,000	146 ft
3216 BRYANT AVE S MINNEAPOLIS MN 55408	NAOMI OSHIRO	RESIDENTIAL	$414,700	147 ft
3228 BRYANT AVE S MINNEAPOLIS MN 55408	PENG WU	RESIDENTIAL	$372,800	164 ft

Property History

Most Recent Sale

Date202308

Price$950,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$15,279