5625 XERXES AVE S MINNEAPOLIS MN 55410

PID: 2002824130204

Property Overview

Parcel ID2002824130204

Lot Size29,571 sq ft (0.679 ac)

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

Year Built1974

Property ClassAPARTMENT

Owner5625 XERXES LLC

Assessed Value$4,371,000

Land Value$738,600

Building Value$3,632,400

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

4 permits on record since 2000 · $286K total declared value · Most recent: Nov 2023 (commercial minor)

Commercial MinorNov 2023Closed

SIGNATURE MECHANICAL INC

RemodelOct 2023Expired

$177K

RESTORATION TECHNOLOGIES INC

RemodelSep 2019Closed

$59K

CEDAR CREEK ENERGY CORP

Building Re-inspectionJun 2000

$50K

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

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

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width182 ft

Buildable depth114 ft

Area~20,743 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 20,743 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
5613 XERXES AVE S MINNEAPOLIS MN 55410	SYDNIE M GOLTZ	CONDOMINIUM	$183,600	132 ft
5613 XERXES AVE S MINNEAPOLIS MN 55410	PRISCILLA M ANTOL	CONDOMINIUM	$240,800	132 ft
5615 XERXES AVE S MINNEAPOLIS MN 55410	GRACE HARTMAN	CONDOMINIUM	$193,300	132 ft
5615 XERXES AVE S MINNEAPOLIS MN 55410	G V RAJA & A J LUBE	CONDOMINIUM	$273,200	132 ft
MN	Unknown	—	—	132 ft
5624 WASHBURN AVE S MINNEAPOLIS MN 55410	KRISTIN J ROWE	RESIDENTIAL	$402,600	134 ft
5628 WASHBURN AVE S MINNEAPOLIS MN 55410	SIMON SON & SOKHAN IEV	RESIDENTIAL	$477,300	147 ft
5618 WASHBURN AVE S MINNEAPOLIS MN 55410	BLANCHE M ODEGARD	RESIDENTIAL	$379,300	149 ft
5612 WASHBURN AVE S MINNEAPOLIS MN 55410	KIEFFER-COMMITO REV TRUST	RESIDENTIAL	$494,000	178 ft
5634 WASHBURN AVE S MINNEAPOLIS MN 55410	J F STEELY & M E STEELY	RESIDENTIAL	$453,700	182 ft

Property History

Most Recent Sale

Date200309

Price$1,539,200

TypeSALE INCLUDES MORE THAN ONE PARCEL

Current Tax Year

Year2026

Tax Due$82,687