4037 COLFAX AVE S MINNEAPOLIS MN 55409

PID: 0902824140077

Property Overview

Parcel ID0902824140077

Lot Size8,469 sq ft (0.194 ac)

Lot Dimensions (est.)135 ft wide × 63 ft deep

Year Built1913

Property ClassRESIDENTIAL

OwnerBRUCE & SHANNON WADMAN

Assessed Value$587,800

Land Value$278,000

Building Value$309,800

Annual Tax$9,408

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

4 permits on record since 2019 · $7K total declared value · Most recent: Apr 2026 (res)

ResApr 2026Closed

CHAMPION PLUMBING LLC

ResMay 2025Closed

CenterPoint Energy Resource Corp

MiscAug 2023Closed

$7K

TRINITY EXTERIORS INC

ExistresApr 2019Closed

ST PAUL PLUMBING AND HEATING CO INC

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

Neighborhood Profile

East Harriet · Minneapolis

Median reported rent1,253/mo

Renter-occupied32.9%

Median home value$403K

Vacancy rate4.7%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1099

Market Snapshot

Zip code 55409

Median sale price$379K-21.6% YoY

Median price / sqft$218/sqft

Median days to close56 days

Active listings21

Source: Redfin Data Center (Invalid Date) · Zip 55409

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 width53 ft

Buildable depth94 ft

Area~5,006 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 5,006 sqft buildable area.

Est. units

Yield on cost

3.9%

Spread

-1.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
4033 COLFAX AVE S MINNEAPOLIS MN 55409	T E FRANCHETT ET AL	RESIDENTIAL	$527,000	53 ft
4043 COLFAX AVE S MINNEAPOLIS MN 55409	B T PETERSON/K L T PETERSON	RESIDENTIAL	$624,000	63 ft
4029 COLFAX AVE S MINNEAPOLIS MN 55409	RACHEL A SCHURMAN DISC TRUST	RESIDENTIAL	$673,000	105 ft
4049 COLFAX AVE S MINNEAPOLIS MN 55409	A S LINCOLN & B LINCOLN	RESIDENTIAL	$846,600	115 ft
4036 BRYANT AVE S MINNEAPOLIS MN 55409	SAMUEL FELLMAN & ELLEN DEAN	RESIDENTIAL	$544,500	135 ft
4040 BRYANT AVE S MINNEAPOLIS MN 55409	P A SKJERVOLD & L MENKE	RESIDENTIAL	$564,800	138 ft
4032 BRYANT AVE S MINNEAPOLIS MN 55409	K E SCHMIT & J E SCHMIT	RESIDENTIAL	$468,900	144 ft
4044 BRYANT AVE S MINNEAPOLIS MN 55409	AMY MARIE SAMSON	RESIDENTIAL	$579,400	153 ft
4055 COLFAX AVE S MINNEAPOLIS MN 55409	SUE EMILY RAY MOORE	RESIDENTIAL	$492,800	157 ft
4025 COLFAX AVE S MINNEAPOLIS MN 55409	MICHAEL R GOLDMAN TRUST	RESIDENTIAL	$424,400	161 ft

Property History

Most Recent Sale

Date200110

Price$360,000

TypePROBATE DEED

Current Tax Year

Year2026

Tax Due$9,408