2640 WASHINGTON ST N E MINNEAPOLIS MN 55418

PID: 1102924130214

Property Overview

Parcel ID1102924130214

Lot Size5,339 sq ft (0.123 ac)

Lot Dimensions (est.)116 ft wide × 46 ft deep

Year Built1900

Property ClassRESIDENTIAL-TWO UNIT

OwnerF MUSATAU & Y MUSATAU

Assessed Value$255,700

Land Value$118,000

Building Value$137,700

Annual Tax$4,856

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Area of Concentrated PovertyHigh

In an ACP50 area — a Minneapolis priority designation that increases scoring for Great Streets gap financing, Affordable Housing Trust Fund, and other CPED programs.

Minneapolis — Affordable Housing Trust Fund ↗

Potential programs

Great Streets Gap FinancingMedium

Below-market loans for commercial real estate development and rehabilitation on eligible corridors; priority given to Green Zone and ACP50 locations.

Minneapolis Great Streets — Gap Financing ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

2 permits on record since 2019 · Most recent: Mar 2021 (res)

ResMar 2021Closed

New Century Systems, Inc.

ResFeb 2019Closed

Jayhawk Mechanical Inc

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

Neighborhood Profile

Holland · Minneapolis

Median reported rent1,204/mo

Renter-occupied56.0%

Median home value$293K

Vacancy rate8.5%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1018

Market Snapshot

Zip code 55418

Median sale price$345K-3.1% YoY

Median price / sqft$222/sqft

Median days to close36 days

Active listings42

Source: Redfin Data Center (Invalid Date) · Zip 55418

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 width36 ft

Buildable depth76 ft

Area~2,738 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 2,738 sqft buildable area.

Est. units

Yield on cost

4.0%

Spread

-1.5%

Loading map…

Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2636 WASHINGTON ST N E MINNEAPOLIS MN 55418	EDMUND BABCOCK	RESIDENTIAL	$217,000	46 ft
2644 WASHINGTON ST N E MINNEAPOLIS MN 55418	RAYMOND PAUSER	RESIDENTIAL-TWO UNIT	$281,000	46 ft
2632 WASHINGTON ST N E MINNEAPOLIS MN 55418	ADRIANNE PAULSON	RESIDENTIAL	$198,800	92 ft
2646 WASHINGTON ST N E MINNEAPOLIS MN 55418	V & N ALEKSEEV	RESIDENTIAL	$349,600	92 ft
2639 7TH ST N E MINNEAPOLIS MN 55418	M R QUINTEROS & T YUQUILIMA	RESIDENTIAL-TWO UNIT	$306,700	130 ft
2643 7TH ST N E MINNEAPOLIS MN 55418	JOSHUA R HAUSMANN	RESIDENTIAL	$259,000	138 ft
2633 7TH ST N E MINNEAPOLIS MN 55418	BROCK SMILEY	RESIDENTIAL-TWO UNIT	$303,300	138 ft
2650 WASHINGTON ST N E MINNEAPOLIS MN 55418	JAMES ROBERT VIZECKY	RESIDENTIAL-TWO UNIT	$312,400	139 ft
2630 WASHINGTON ST N E MINNEAPOLIS MN 55418	ASHLEY L ERSFELD	RESIDENTIAL	$312,200	141 ft
2647 7TH ST N E MINNEAPOLIS MN 55418	D L COUSINS & B COUSINS	RESIDENTIAL	$240,700	159 ft

Property History

Most Recent Sale

Date202311

Price$279,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,856