3224 COLFAX AVE S MINNEAPOLIS MN 55408

PID: 0402824140055

Property Overview

Parcel ID0402824140055

Lot Size5,456 sq ft (0.125 ac)

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

Year Built1909

Property ClassRESIDENTIAL

OwnerBENJAMIN CONNELLY ET AL

Assessed Value$385,000

Land Value$185,000

Building Value$200,000

Annual Tax$5,771

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

2 permits on record since 2020 · $18K total declared value · Most recent: Sep 2023 (misc)

MiscSep 2023Closed

$7K

ARDMOR CONSTRUCTION

MiscMay 2020Closed

$11K

NEW LIFE CONTRACTING 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~2,872 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 2,872 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
3220 COLFAX AVE S MINNEAPOLIS MN 55408	KATHERINE HARVEY ET AL	RESIDENTIAL	$345,600	42 ft
3228 COLFAX AVE S MINNEAPOLIS MN 55408	CRAIG WESTERLAND	RESIDENTIAL	$645,400	42 ft
3216 COLFAX AVE S MINNEAPOLIS MN 55408	D S FRANKOWSKI & M A SKEANS	RESIDENTIAL	$403,600	85 ft
3232 COLFAX AVE S MINNEAPOLIS MN 55408	M RAYMOND & A ORKIN-RAYMOND	RESIDENTIAL-TWO UNIT	$388,600	85 ft
3212 COLFAX AVE S MINNEAPOLIS MN 55408	IGOR NAUMOVICH LIBERMAN	RESIDENTIAL-TWO UNIT	$589,900	127 ft
3236 COLFAX AVE S MINNEAPOLIS MN 55408	BORDERLAND AND CO LLC	RESIDENTIAL-TWO UNIT	$735,500	127 ft
3225 DUPONT AVE S MINNEAPOLIS MN 55408	DOUGLAS E LARISON	RESIDENTIAL-TWO UNIT	$652,700	140 ft
3221 DUPONT AVE S MINNEAPOLIS MN 55408	JAMES ARTHUR HOEFT	RESIDENTIAL-TWO UNIT	$562,800	146 ft
3229 DUPONT AVE S MINNEAPOLIS MN 55408	JEFF DUPONT LLC ET AL	RESIDENTIAL-TWO UNIT	$415,500	147 ft
3217 DUPONT AVE S MINNEAPOLIS MN 55408	PROJECT MN INVESTMENTS LLC	RESIDENTIAL-TWO UNIT	$467,700	163 ft

Property History

Most Recent Sale

Date200004

Price$150,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$5,771