5635 XERXES AVE S MINNEAPOLIS MN 55410

PID: 2002824130203

Property Overview

Parcel ID2002824130203

Lot Size29,542 sq ft (0.678 ac)

Lot Dimensions (est.)154 ft wide × 192 ft deep

Year Built1974

Property ClassAPARTMENT

Owner5625 XERXES LLC

Assessed Value$4,371,000

Land Value$737,900

Building Value$3,633,100

Annual Tax$82,687

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

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

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Armatage · Minneapolis

Median reported rent2,052/mo

Renter-occupied15.4%

Median home value$393K

Vacancy rate2.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 120.01

Market Snapshot

Zip code 55410

Median sale price$626K+10.3% YoY

Median price / sqft$312/sqft

Median days to close30 days

Active listings56

Source: Redfin Data Center (Invalid Date) · Zip 55410

Zoning

UN3Urban Neighborhood 3

Urban Neighborhood 3 — medium-density residential

Typical Uses

·Apartment buildings
·Mixed-use with neighborhood retail

Max Height50 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.)10 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width139 ft

Buildable depth152 ft

Area~20,148 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 20,148 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
5640 WASHBURN AVE S MINNEAPOLIS MN 55410	B P JOHNSON/B K KAYLA ANDRE	RESIDENTIAL	$423,900	134 ft
5646 WASHBURN AVE S MINNEAPOLIS MN 55410	JENNIFER LEORA HAHS-BRYDEN	RESIDENTIAL	$439,600	147 ft
5634 WASHBURN AVE S MINNEAPOLIS MN 55410	J F STEELY & M E STEELY	RESIDENTIAL	$453,700	151 ft
3021 57TH ST W MINNEAPOLIS MN 55410	BEAU LARSON & EMMA L CLABO	RESIDENTIAL-TWO UNIT	$420,000	181 ft
5628 WASHBURN AVE S MINNEAPOLIS MN 55410	SIMON SON & SOKHAN IEV	RESIDENTIAL	$477,300	188 ft
5625 XERXES AVE S MINNEAPOLIS MN 55410	5625 XERXES LLC	APARTMENT	$4,371,000	192 ft
5700 XERXES AVE S EDINA MN 55410	DALE MILES SKOGSTAD	RESIDENTIAL	$715,900	209 ft
5700 WASHBURN AVE S MINNEAPOLIS MN 55410	L HEURING AND M MACINTIRE	RESIDENTIAL	$241,500	218 ft
5628 XERXES AVE S EDINA MN 55410	W HENN AFFORD HSG LAND TR	RESIDENTIAL	$463,600	223 ft
5704 XERXES AVE S EDINA MN 55410	TIFFANY B FEHRENKAMP ET AL	RESIDENTIAL	$486,100	228 ft

Property History

Most Recent Sale

Date200309

Price$460,800

TypeSALE INCLUDES MORE THAN ONE PARCEL

Current Tax Year

Year2026

Tax Due$82,687