2506 5TH ST N E MINNEAPOLIS MN 55418

PID: 1102924240031

Property Overview

Parcel ID1102924240031

Lot Size5,675 sq ft (0.130 ac)

Lot Dimensions (est.)123 ft wide × 46 ft deep

Year Built1925

Property ClassRESIDENTIAL-TWO UNIT

OwnerSHEILA LUND & SANDI SCHERFF

Assessed Value$338,200

Land Value$108,000

Building Value$230,200

Annual Tax$5,009

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

7 permits on record since 2022 · $31K total declared value · Most recent: Dec 2025 (res)

ResDec 2025Closed

CenterPoint Energy Resource Corp

ResDec 2025Closed

CenterPoint Energy Resource Corp

MiscAug 2025Final Inspection

$11K

Window Nation LLC

RemodelAug 2025Cancelled

$20K

Innovative Basement Authority

ResFeb 2022Closed

Centraire Heating & Air Conditioning LLC

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

UN3Urban Neighborhood 3

Urban Neighborhood 3 — medium-density residential

Typical Uses

·Apartment buildings
·Mixed-use with neighborhood retail

Max Height50 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width36 ft

Buildable depth83 ft

Area~3,000 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 3-story wood frame (5–12 units) benchmarks for 3,000 sqft buildable area.

Est. units

Yield on cost

4.0%

Spread

-1.5%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2500 5TH ST N E MINNEAPOLIS MN 55418	J R RAJENDREN/S J RAJENDREN	RESIDENTIAL-TWO UNIT	$354,600	46 ft
2510 5TH ST N E MINNEAPOLIS MN 55418	GORDIAN J YAP & DIVAH C YAP	RESIDENTIAL	$316,900	46 ft
2514 5TH ST N E MINNEAPOLIS MN 55418	NATHAN WEST & EMILY WEST	RESIDENTIAL	$310,800	92 ft
2507 4TH ST N E MINNEAPOLIS MN 55418	J KLEINMAN & V KLEINMAN	RESIDENTIAL	$303,000	123 ft
2501 4TH ST N E MINNEAPOLIS MN 55418	NE PALACE INC	LAND-COMMERCIAL	$100,400	130 ft
2511 4TH ST N E MINNEAPOLIS MN 55418	TAYLOR BOYD	RESIDENTIAL-TWO UNIT	$337,700	132 ft
2428 5TH ST N E MINNEAPOLIS MN 55418	2428 5TH STREET LLC	RESIDENTIAL-TWO UNIT	$217,500	142 ft
2515 4TH ST N E MINNEAPOLIS MN 55418	KAMPHEAK ORFEI & A ORFEI	RESIDENTIAL	$298,800	155 ft
2522 5TH ST N E MINNEAPOLIS MN 55418	THOMAS A FILZEN	RESIDENTIAL-TWO UNIT	$382,400	161 ft
2424 5TH ST N E MINNEAPOLIS MN 55418	M PETERSON & D SALAMONE	RESIDENTIAL-TWO UNIT	$356,400	182 ft

Property History

Most Recent Sale

Date199706

Price$68,000

TypePROBATE DEED

Current Tax Year

Year2026

Tax Due$5,009