824 5TH AVE S E MINNEAPOLIS MN 55414

PID: 2402924220131

Property Overview

Parcel ID2402924220131

Lot Size6,379 sq ft (0.146 ac)

Lot Dimensions (est.)158 ft wide × 40 ft deep

Year Built1909

Property ClassRESIDENTIAL-TWO UNIT

OwnerRACHEL COMMERFORD

Assessed Value$387,300

Land Value$146,000

Building Value$241,300

Annual Tax$7,355

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 width30 ft

Buildable depth119 ft

Area~3,584 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 3,584 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
820 5TH AVE S E MINNEAPOLIS MN 55414	LEROY R ERICKSON REVOC TRUST	RESIDENTIAL	$413,100	40 ft
830 5TH AVE S E MINNEAPOLIS MN 55414	BUCHANAN II LLC	LOW INCOME RENTAL	$562,100	40 ft
816 5TH AVE S E MINNEAPOLIS MN 55414	ISABELLA MARLEEN BOWERS	RESIDENTIAL	$380,900	80 ft
812 5TH AVE S E MINNEAPOLIS MN 55414	C E MORAN & J A KOEHLER	RESIDENTIAL	$446,200	120 ft
831 6TH AVE S E MINNEAPOLIS MN 55414	HILLCREST DEVELOPMENT	LAND-COMMERCIAL	$229,000	173 ft
821 6TH AVE S E MINNEAPOLIS MN 55414	821 6TH AVE SE LLC	APARTMENT	$7,500,000	193 ft
505 8TH ST S E MINNEAPOLIS MN 55414	501 8TH ST SE LLC	APARTMENT	$1,040,000	213 ft
509 8TH ST S E MINNEAPOLIS MN 55414	KEVIN MONE	RESIDENTIAL-TWO UNIT	$400,500	214 ft
501 8TH ST S E MINNEAPOLIS MN 55414	S KJELLBERG & H MORLEY	RESIDENTIAL-TWO UNIT	$407,800	220 ft
515 8TH ST S E MINNEAPOLIS MN 55414	JEANNE OLSEN	RESIDENTIAL	$328,400	222 ft

Property History

Most Recent Sale

Date201401

Price$210,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$7,355