1606 XERXES AVE N MINNEAPOLIS MN 55411

PID: 1702924420222

Property Overview

Parcel ID1702924420222

Lot Size8,865 sq ft (0.204 ac)

Lot Dimensions (est.)74 ft wide × 120 ft deep

Year Built1941

Property ClassRESIDENTIAL

OwnerAPRIL A ESTES REV TRUST

Assessed Value$474,500

Land Value$52,000

Building Value$422,500

Annual Tax$7,260

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

3 permits on record since 2023 · $28K total declared value · Most recent: May 2025 (misc)

MiscMay 2025Closed

$2K

CREW2 INC

MiscMar 2024Closed

$26K

SELA ROOFING AND REMODELING INC

ResOct 2023Closed

CenterPoint Energy Resource Corp

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

Neighborhood Profile

Willard - Hay · Minneapolis

Median reported rent1,042/mo

Renter-occupied38.0%

Median home value$229K

Vacancy rate3.1%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 27

Market Snapshot

Zip code 55411

Median sale price$243K-2.9% YoY

Median price / sqft$140/sqft

Median days to close40 days

Active listings67

Source: Redfin Data Center (Invalid Date) · Zip 55411

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 width61 ft

Buildable depth80 ft

Area~3,619 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 3,619 sqft buildable area.

Est. units

Yield on cost

4.2%

Spread

-1.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2920 16TH AVE N MINNEAPOLIS MN 55411	MARK G OLSON & DAWN M OLSON	RESIDENTIAL	$218,700	63 ft
1614 XERXES AVE N MINNEAPOLIS MN 55411	MEE THAO & SHOUA XIONG	RESIDENTIAL	$238,300	84 ft
1616 XERXES AVE N MINNEAPOLIS MN 55411	BUILD WEALTH MN INC	RESIDENTIAL	$260,000	123 ft
1530 XERXES AVE N MINNEAPOLIS MN 55411	ALLEN I JAVINSKY	RESIDENTIAL-TWO UNIT	$319,500	163 ft
1607 WASHBURN AVE N MINNEAPOLIS MN 55411	V VON ALLGEIER & T WIENHOLZ	RESIDENTIAL	$319,000	167 ft
1611 WASHBURN AVE N MINNEAPOLIS MN 55411	MARGARET M DORR	RESIDENTIAL	$192,300	171 ft
1601 WASHBURN AVE N MINNEAPOLIS MN 55411	SAMUEL ABEGGLEN	RESIDENTIAL	$339,300	172 ft
1622 XERXES AVE N MINNEAPOLIS MN 55411	A CROCKER & K PINTAR	RESIDENTIAL	$104,000	172 ft
1615 WASHBURN AVE N MINNEAPOLIS MN 55411	DARLENE M POTTS	RESIDENTIAL	$223,600	184 ft
1601 XERXES AVE N GOLDEN VALLEY MN 55411	STEVEN WALDEN/LISA PAWELAK	RESIDENTIAL	$652,400	195 ft

Property History

Current Tax Year

Year2026

Tax Due$7,260