605 12TH AVE S E MINNEAPOLIS MN 55414

PID: 2402924420067

Property Overview

Parcel ID2402924420067

Lot Size2,678 sq ft (0.061 ac)

Lot Dimensions (est.)92 ft wide × 29 ft deep

Year Built1900

Property ClassRESIDENTIAL

Owner605 12TH AVE SE LLC

Assessed Value$645,800

Land Value$119,000

Building Value$526,800

Annual Tax$10,510

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

4 permits on record since 2021 · $293K total declared value · Most recent: Jul 2021 (newres)

NewresJul 2021Closed

$16K

SWIFT HEATING & AIR CONDITIONING INC

ComnofdbvJun 2021Closed

All Pride Plumbing Inc

AdditionApr 2021Closed

$275K

GGR Restoration LLC

RemodelFeb 2021Closed

$2K

GGR Restoration LLC

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

Neighborhood Profile

Marcy Holmes · Minneapolis

Median reported rent1,628/mo

Renter-occupied98.7%

Median home value—

Vacancy rate15.6%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 38.02

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 width19 ft

Buildable depth52 ft

Area~987 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 sfr / adu benchmarks for 987 sqft buildable area.

Est. units

Yield on cost

2.9%

Spread

-2.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
607 12TH AVE S E MINNEAPOLIS MN 55414	605 ERIE ST SE LLC	RESIDENTIAL-TWO UNIT	$756,000	34 ft
1129 6TH ST S E MINNEAPOLIS MN 55414	1129 6TH ST SE LLC	TRIPLEX	$1,252,500	42 ft
1119 6TH ST S E MINNEAPOLIS MN 55414	DANIEL J BRESNAHAN	RESIDENTIAL	$547,100	65 ft
609 12TH AVE S E MINNEAPOLIS MN 55414	THOMAS FLEMING	RESIDENTIAL-TWO UNIT	$758,800	72 ft
1115 6TH ST S E MINNEAPOLIS MN 55414	1115 6TH ST SOUTHEAST LLC	RESIDENTIAL-TWO UNIT	$551,700	106 ft
611 12TH AVE S E MINNEAPOLIS MN 55414	ROBERT ANTHONY MIELKE JR	RESIDENTIAL-TWO UNIT	$352,300	111 ft
1109 6TH ST S E MINNEAPOLIS MN 55414	PARADYGM PROPS/TWIN CITS LLC	RESIDENTIAL-TWO UNIT	$711,400	147 ft
613 12TH AVE S E MINNEAPOLIS MN 55414	PB PARTNERS LLC	RESIDENTIAL-TWO UNIT	$527,400	153 ft
600 12TH AVE S E MINNEAPOLIS MN 55414	CH OF ST LAWRENCE	LAND-COMMERCIAL	$499,200	182 ft
1118 7TH ST S E MINNEAPOLIS MN 55414	1118 7TH ST SE LLC	TRIPLEX	$527,800	184 ft

Property History

Most Recent Sale

Date202009

Price$300,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$10,510