601 5TH ST S E MINNEAPOLIS MN 55414

PID: 2402924230178

Property Overview

Parcel ID2402924230178

Lot Size11,963 sq ft (0.275 ac)

Lot Dimensions (est.)145 ft wide × 82 ft deep

Year Built1858

Property ClassTRIPLEX

OwnerJ E/L VANDER BROEK

Assessed Value$1,019,100

Land Value$223,000

Building Value$796,100

Annual Tax$17,599

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictYes — Fifth Street SE

Development Opportunities

Historic district — Fifth Street SEHigh

Within a Minneapolis HPC district — alterations and new construction require design review; historic tax credits may apply.

Minneapolis Preservation & Landmarks ↗

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

No permits found in Minneapolis open data for this parcel.

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

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width132 ft

Buildable depth42 ft

Area~6,939 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 6,939 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
MN	Unknown	—	—	0 ft
MN	Unknown	—	—	0 ft
MN	Unknown	—	—	0 ft
510 6TH AVE S E MINNEAPOLIS MN 55414	T MYERS & A WETHINGTON	RESIDENTIAL	$447,800	83 ft
611 5TH ST S E MINNEAPOLIS MN 55414	ELIZABETH J KINSEY HAWLEY	CONDOMINIUM	$473,000	86 ft
611 5TH ST S E MINNEAPOLIS MN 55414	RYAN GARRETT & RYAN KLATH	CONDOMINIUM	$508,000	86 ft
MN	Unknown	—	—	86 ft
514 6TH AVE S E MINNEAPOLIS MN 55414	ELIZABETH L DILKS REVOC TR	RESIDENTIAL	$341,000	126 ft
617 5TH ST S E MINNEAPOLIS MN 55414	M R RENNEBERG/K C RENNEBERG	RESIDENTIAL-TWO UNIT	$573,500	140 ft
505 6TH AVE S E MINNEAPOLIS MN 55414	MICHELLE BAWIEC/ERIK PAULSON	CONDOMINIUM	$512,000	173 ft

Property History

Current Tax Year

Year2026

Tax Due$17,599