1505 WASHBURN AVE N MINNEAPOLIS MN 55411

PID: 1702924430009

Property Overview

Parcel ID1702924430009

Lot Size5,291 sq ft (0.121 ac)

Lot Dimensions (est.)110 ft wide × 48 ft deep

Year Built1940

Property ClassRESIDENTIAL

OwnerB U HALPHEN ETAL TRUSTEES

Assessed Value$318,500

Land Value$43,000

Building Value$275,500

Annual Tax$4,658

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 ↗

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

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 ↗

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

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

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width41 ft

Buildable depth64 ft

Area~2,628 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 2,628 sqft buildable area.

Est. units

Yield on cost

3.6%

Spread

-1.9%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1509 WASHBURN AVE N MINNEAPOLIS MN 55411	GARY & BRENDA J ROSS	RESIDENTIAL	$320,600	50 ft
1501 WASHBURN AVE N MINNEAPOLIS MN 55411	COMMUNITY HOUSING RESOURCES	RESIDENTIAL	$0	50 ft
1431 WASHBURN AVE N MINNEAPOLIS MN 55411	ROBERT S METZGER	RESIDENTIAL	$227,900	98 ft
1515 WASHBURN AVE N MINNEAPOLIS MN 55411	FRANKIE ELLIOTT	RESIDENTIAL	$397,400	101 ft
1508 XERXES AVE N MINNEAPOLIS MN 55411	MATTHEW RUNION & AMY RUNION	RESIDENTIAL	$292,600	124 ft
1514 XERXES AVE N MINNEAPOLIS MN 55411	C B & E L SCHIMELPFENIG	RESIDENTIAL	$476,100	128 ft
1427 WASHBURN AVE N MINNEAPOLIS MN 55411	WNGS HOLDINGS LLC	RESIDENTIAL	$205,500	143 ft
1519 WASHBURN AVE N MINNEAPOLIS MN 55411	WILLIAM C & EMILIE A SZABO	RESIDENTIAL	$413,800	156 ft
1430 XERXES AVE N MINNEAPOLIS MN 55411	SHONDRA L DICKSON	RESIDENTIAL	$215,000	157 ft
1530 XERXES AVE N MINNEAPOLIS MN 55411	ALLEN I JAVINSKY	RESIDENTIAL-TWO UNIT	$319,500	182 ft

Property History

Current Tax Year

Year2026

Tax Due$4,658