5504 29TH AVE S MINNEAPOLIS MN 55417

PID: 2402824110203

Property Overview

Parcel ID2402824110203

Lot Size6,403 sq ft (0.147 ac)

Lot Dimensions (est.)128 ft wide × 50 ft deep

Year Built1960

Property ClassRESIDENTIAL

OwnerT WOODLING & M WOODLING

Assessed Value$254,000

Land Value$138,000

Building Value$116,000

Annual Tax$3,586

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

Minneapolis

Median reported rent1,094/mo

Renter-occupied49.4%

Median home value$326K

Vacancy rate4.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 121.01

Market Snapshot

Zip code 55417

Median sale price$371K-4.4% YoY

Median price / sqft$244/sqft

Median days to close34 days

Active listings28

Source: Redfin Data Center (Invalid Date) · Zip 55417

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 width40 ft

Buildable depth88 ft

Area~3,521 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 3,521 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
5508 29TH AVE S MINNEAPOLIS MN 55417	ADELINE HEFLIN/RILEY HEFLIN	RESIDENTIAL	$396,800	50 ft
5500 29TH AVE S MINNEAPOLIS MN 55417	ELEANOR I ALMOS	RESIDENTIAL	$343,400	51 ft
5512 29TH AVE S MINNEAPOLIS MN 55417	MARK & AUDREY BOETTCHER	RESIDENTIAL	$359,300	100 ft
5505 28TH AVE S MINNEAPOLIS MN 55417	JEREMY GILMORE	RESIDENTIAL	$317,900	142 ft
5516 29TH AVE S MINNEAPOLIS MN 55417	BARBARA R OLSON	RESIDENTIAL	$338,700	150 ft
5501 28TH AVE S MINNEAPOLIS MN 55417	NANCY A BACH & DAVID G BACH	RESIDENTIAL	$343,200	150 ft
5509 28TH AVE S MINNEAPOLIS MN 55417	JAMES HORVATH/JESSICA SILVER	RESIDENTIAL	$332,500	151 ft
2820 55TH ST E MINNEAPOLIS MN 55417	J WEINBERG & K WEINBERG	RESIDENTIAL	$305,000	156 ft
5515 28TH AVE S MINNEAPOLIS MN 55417	CARL THOMAS HARTMAN	RESIDENTIAL	$341,000	175 ft
5505 29TH AVE S MINNEAPOLIS MN 55417	I DOMINGUEZ-RUBIO/P SANCHEZ	RESIDENTIAL	$340,600	188 ft

Property History

Most Recent Sale

Date202204

Price$250,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$3,586