3453 COLFAX AVE S MINNEAPOLIS MN 55408

PID: 0402824410061

Property Overview

Parcel ID0402824410061

Lot Size5,415 sq ft (0.124 ac)

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

Year Built1907

Property ClassRESIDENTIAL-TWO UNIT

OwnerALAN WIGGS

Assessed Value$563,200

Land Value$176,000

Building Value$387,200

Annual Tax$13,992

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

2 permits on record since 2017 · Most recent: Apr 2022 (existres)

ExistresApr 2022Closed

HomeWorks Services LLC

ResSep 2017Closed

Patricki Plumbing LLC

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

Neighborhood Profile

South Uptown · Minneapolis

Median reported rent1,188/mo

Renter-occupied69.2%

Median home value$289K

Vacancy rate4.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1092

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

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width116 ft

Buildable depth2 ft

Area~2,578 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 2,578 sqft buildable area.

Est. units

Yield on cost

3.4%

Spread

-2.1%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3447 COLFAX AVE S MINNEAPOLIS MN 55408	REARDON PROPERTIES L P	APARTMENT	$818,000	42 ft
3443 COLFAX AVE S MINNEAPOLIS MN 55408	S CLOYD & L B CLOYD	APARTMENT	$627,000	84 ft
3501 COLFAX AVE S MINNEAPOLIS MN 55408	C VILLARS & K VILLARS	RESIDENTIAL	$377,200	103 ft
3439 COLFAX AVE S MINNEAPOLIS MN 55408	D L SHULMAN / M R SHULMAN	RESIDENTIAL-TWO UNIT	$589,600	126 ft
3452 BRYANT AVE S MINNEAPOLIS MN 55408	JOHN LARES	APARTMENT	$627,000	140 ft
3505 COLFAX AVE S MINNEAPOLIS MN 55408	P J EDWARDS & J L KOHLER	RESIDENTIAL	$356,000	144 ft
3448 BRYANT AVE S MINNEAPOLIS MN 55408	MELISSA B LINDE & M A WILSON	RESIDENTIAL	$455,700	147 ft
3444 BRYANT AVE S MINNEAPOLIS MN 55408	S IYENGAR/S R IYENGAR ET AL	RESIDENTIAL	$419,000	164 ft
3500 BRYANT AVE S MINNEAPOLIS MN 55408	RDA UPTOWN I LLC	RESIDENTIAL	$271,400	173 ft
3509 COLFAX AVE S MINNEAPOLIS MN 55408	MARY ANN TERVO	APARTMENT	$777,000	186 ft

Property History

Most Recent Sale

Date202108

Price$545,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$13,992