720 6TH AVE S E MINNEAPOLIS MN 55414

PID: 2402924220041

Property Overview

Parcel ID2402924220041

Lot Size18,478 sq ft (0.424 ac)

Lot Dimensions (est.)192 ft wide × 96 ft deep

Year Built1964

Property ClassAPARTMENT

OwnerJAMES T EISCHENS

Assessed Value$2,110,000

Land Value$221,800

Building Value$1,888,200

Annual Tax$40,071

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

1 permit on record since 2018 · $1K total declared value · Most recent: Nov 2018 (roofwind)

RoofwindNov 2018Closed

$1K

CG LEGVOLD CONSTRUCTION INC

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

Neighborhood Profile

Marcy Holmes · Minneapolis

Median reported rent1,144/mo

Renter-occupied96.6%

Median home value—

Vacancy rate12.5%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 38.01

Market Snapshot

Zip code 55414

Median sale price$385K+13.2% YoY

Median price / sqft$233/sqft

Median days to close91 days

Active listings36

Source: Redfin Data Center (Invalid Date) · Zip 55414

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 width132 ft

Buildable depth90 ft

Area~11,108 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 11,108 sqft buildable area.

Est. units

Yield on cost

4.1%

Spread

-1.4%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
768 6TH AVE S E MINNEAPOLIS MN 55414	RESTART INC	VACANT LAND-RESIDENTIAL	$0	75 ft
606 8TH ST S E MINNEAPOLIS MN 55414	MILFOIL LLC	APARTMENT	$382,800	111 ft
600 8TH ST S E MINNEAPOLIS MN 55414	J G LANGFORD & E LANGFORD	RESIDENTIAL	$291,500	116 ft
605 7TH ST S E MINNEAPOLIS MN 55414	REEVE S RIDGEWAY	RESIDENTIAL	$474,900	122 ft
715 7TH AVE S E MINNEAPOLIS MN 55414	BRET J ANDERSEN ET AL TRES	RESIDENTIAL	$10,000	129 ft
608 8TH ST S E MINNEAPOLIS MN 55414	MILKWEED LLC	RESIDENTIAL	$283,500	131 ft
601 7TH ST S E MINNEAPOLIS MN 55414	KLP REAL ESTATE LLC	RESIDENTIAL	$449,800	132 ft
614 8TH ST S E MINNEAPOLIS MN 55414	RESTART INC	RESIDENTIAL-TWO UNIT	$0	133 ft
711 7TH AVE S E MINNEAPOLIS MN 55414	R S MCQUEEN & H L MCQUEEN	RESIDENTIAL	$15,000	135 ft
615 7TH ST S E MINNEAPOLIS MN 55414	V MALENE & K CHANDLER	RESIDENTIAL	$397,200	141 ft

Property History

Most Recent Sale

Date200203

Price$1,340,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$40,071