521 8TH ST S E MINNEAPOLIS MN 55414

PID: 2402924220123

Property Overview

Parcel ID2402924220123

Lot Size4,763 sq ft (0.109 ac)

Lot Dimensions (est.)92 ft wide × 52 ft deep

Year Built1970

Property ClassRESIDENTIAL

Owner517 8TH ST LLC

Assessed Value$82,000

Land Value$66,000

Building Value$16,000

Annual Tax$1,557

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

Marcy Holmes · Minneapolis

Median reported rent1,222/mo

Renter-occupied80.8%

Median home value$377K

Vacancy rate3.8%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1037

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 width31 ft

Buildable depth76 ft

Area~2,363 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 2,363 sqft buildable area.

Est. units

Yield on cost

4.0%

Spread

-1.5%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
525 8TH ST S E MINNEAPOLIS MN 55414	JENNY WEST	RESIDENTIAL	$422,700	41 ft
517 8TH ST S E MINNEAPOLIS MN 55414	517 8TH ST LLC	APARTMENT	$685,000	41 ft
515 8TH ST S E MINNEAPOLIS MN 55414	JEANNE OLSEN	RESIDENTIAL	$328,400	82 ft
529 8TH ST S E MINNEAPOLIS MN 55414	JAY C NIELSEN	RESIDENTIAL-TWO UNIT	$444,600	84 ft
509 8TH ST S E MINNEAPOLIS MN 55414	KEVIN MONE	RESIDENTIAL-TWO UNIT	$400,500	123 ft
821 6TH AVE S E MINNEAPOLIS MN 55414	821 6TH AVE SE LLC	APARTMENT	$7,500,000	130 ft
505 8TH ST S E MINNEAPOLIS MN 55414	501 8TH ST SE LLC	APARTMENT	$1,040,000	163 ft
812 5TH AVE S E MINNEAPOLIS MN 55414	C E MORAN & J A KOEHLER	RESIDENTIAL	$446,200	172 ft
528 8TH ST S E MINNEAPOLIS MN 55414	C T & J L LUNDEEN	RESIDENTIAL	$273,300	189 ft
522 8TH ST S E MINNEAPOLIS MN 55414	E A W LANGFORD/J G LANGFORD	RESIDENTIAL	$303,600	191 ft

Property History

Current Tax Year

Year2026

Tax Due$1,557