349 GARFIELD ST N E MINNEAPOLIS MN 55413

PID: 1302924430028

Property Overview

Parcel ID1302924430028

Lot Size4,989 sq ft (0.115 ac)

Lot Dimensions (est.)124 ft wide × 40 ft deep

Year Built1923

Property ClassRESIDENTIAL

OwnerBRETT TRAXLER

Assessed Value$215,700

Land Value$79,000

Building Value$136,700

Annual Tax$3,339

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Qualified Census Tract (QCT)High

Within a HUD-designated Qualified Census Tract — LIHTC projects here receive a 30% basis boost, significantly increasing the tax credit allocation for affordable housing development.

HUD — LIHTC Qualified Census Tracts ↗

Potential programs

LIHTC 30% Basis BoostMedium

Affordable housing developments in QCTs receive a 30% increase in eligible basis for Low Income Housing Tax Credits — materially improving project feasibility. Allocated through MHFA.

HUD — LIHTC Qualified Census Tracts ↗

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

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Minneapolis

Median reported rent1,416/mo

Renter-occupied87.3%

Median home value$321K

Vacancy rate6.1%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1040.02

Market Snapshot

Zip code 55413

Median sale price$350K+2.9% YoY

Median price / sqft$213/sqft

Median days to close69 days

Active listings27

Source: Redfin Data Center (Invalid Date) · Zip 55413

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 width30 ft

Buildable depth85 ft

Area~2,541 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 2,541 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
343 GARFIELD ST N E MINNEAPOLIS MN 55413	MUHAMMAD FAROOQ	RESIDENTIAL	$248,600	40 ft
353 GARFIELD ST N E MINNEAPOLIS MN 55413	JESUS EFRAIN SACTA VASQUEZ	RESIDENTIAL	$246,300	40 ft
339 GARFIELD ST N E MINNEAPOLIS MN 55413	C M FERRIS & B A FERRIS	RESIDENTIAL	$143,000	80 ft
357 GARFIELD ST N E MINNEAPOLIS MN 55413	AARON D ARVOLD	RESIDENTIAL	$251,200	80 ft
337 GARFIELD ST N E MINNEAPOLIS MN 55413	COMMUNITY HOUSING RESOURCES	RESIDENTIAL	$0	120 ft
1169 14TH AVE S E MINNEAPOLIS MN 55414	JPMP LLC	RESIDENTIAL	$399,000	138 ft
1173 14TH AVE S E MINNEAPOLIS MN 55414	J JOHNSON/A MENNELL ET AL	RESIDENTIAL	$281,300	144 ft
1163 14TH AVE S E MINNEAPOLIS MN 55414	R B RICHERSON & T SCHAETZEL	RESIDENTIAL-TWO UNIT	$368,200	144 ft
1177 14TH AVE S E MINNEAPOLIS MN 55414	REBECCA H ASBU	RESIDENTIAL	$291,200	160 ft
1161 14TH AVE S E MINNEAPOLIS MN 55414	JEREMIAH COREY PETERSON	RESIDENTIAL	$255,200	160 ft

Property History

Most Recent Sale

Date201507

Price$153,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$3,339