624 NEWTON AVE N MINNEAPOLIS MN 55411

PID: 2102924230035

Property Overview

Parcel ID2102924230035

Lot Size5,349 sq ft (0.123 ac)

Lot Dimensions (est.)127 ft wide × 42 ft deep

Year Built1910

Property ClassRESIDENTIAL

OwnerROBERT DONALD ZEMAN

Assessed Value$153,800

Land Value$16,000

Building Value$137,800

Annual Tax$2,381

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

Near - North · Minneapolis

Median reported rent1,064/mo

Renter-occupied53.6%

Median home value$230K

Vacancy rate9.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 33

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 width32 ft

Buildable depth87 ft

Area~2,795 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 2,795 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
620 NEWTON AVE N MINNEAPOLIS MN 55411	TERESA REDD	RESIDENTIAL	$177,500	42 ft
702 NEWTON AVE N MINNEAPOLIS MN 55411	ROBERT ZEMAN	RESIDENTIAL	$0	42 ft
616 NEWTON AVE N MINNEAPOLIS MN 55411	BRENT MURPHY	RESIDENTIAL	$171,900	84 ft
706 NEWTON AVE N MINNEAPOLIS MN 55411	JESSE DONG	RESIDENTIAL	$335,000	84 ft
612 NEWTON AVE N MINNEAPOLIS MN 55411	CFW REALTY LLC	LOW INCOME RENTAL	$210,000	126 ft
710 NEWTON AVE N MINNEAPOLIS MN 55411	JORGE V CUZCO	RESIDENTIAL	$222,000	126 ft
625 MORGAN AVE N MINNEAPOLIS MN 55411	JOSE BALBOA ACERO	RESIDENTIAL	$225,800	139 ft
621 MORGAN AVE N MINNEAPOLIS MN 55411	621 MORGAN LLC	RESIDENTIAL-TWO UNIT	$264,300	145 ft
703 MORGAN AVE N MINNEAPOLIS MN 55411	JOEL ROJAS & AIDE TINOCO	RESIDENTIAL-TWO UNIT	$260,800	146 ft
617 MORGAN AVE N MINNEAPOLIS MN 55411	MARIA TAYLOR	RESIDENTIAL-TWO UNIT	$311,700	162 ft

Property History

Most Recent Sale

Date200707

Price$54,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$2,381