1609 11TH AVE S MINNEAPOLIS MN 55404

PID: 2602924310018

Property Overview

Parcel ID2602924310018

Lot Size7,564 sq ft (0.174 ac)

Lot Dimensions (est.)151 ft wide × 50 ft deep

Year Built1900

Property ClassRESIDENTIAL

OwnerTAM HUU PHAM

Assessed Value$402,000

Land Value$182,000

Building Value$220,000

Annual Tax$6,223

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

1 permit on record since 2024 · $1K total declared value · Most recent: Sep 2024 (conversion)

ConversionSep 2024Closed

$1K

PAUL DAVIS RESTORATION OF GREATER ST PAUL

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

Neighborhood Profile

Elliot Park · Minneapolis

Median reported rent1,057/mo

Renter-occupied97.1%

Median home value$341K

Vacancy rate15.4%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 59.01

Market Snapshot

Zip code 55404

Median sale price$306K+16.4% YoY

Median price / sqft$167/sqft

Median days to close92 days

Active listings57

Source: Redfin Data Center (Invalid Date) · Zip 55404

Zoning

RM3Residence and Institutional

Residential Mixed-Use 3 — higher-density mixed residential

Typical Uses

·High-density apartments
·Mixed-use buildings
·Ground-floor retail

Max Height95 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width40 ft

Buildable depth111 ft

Area~4,449 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 3-story wood frame (5–12 units) benchmarks for 4,449 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
1605 11TH AVE S MINNEAPOLIS MN 55404	T HANKES & J BABINSKI	RESIDENTIAL-TWO UNIT	$449,800	50 ft
1615 11TH AVE S MINNEAPOLIS MN 55404	POLIR PROPERTIES INC	APARTMENT	$867,600	52 ft
1601 11TH AVE S MINNEAPOLIS MN 55404	JONI M BABINSKI	APARTMENT	$506,700	100 ft
926 13TH AVE S MINNEAPOLIS MN 55404	P P NACHE & J P NACHE	RESIDENTIAL-TWO UNIT	$668,200	144 ft
1521 11TH AVE S MINNEAPOLIS MN 55404	AUGUSTANA PROPERTIES LLC	APARTMENT	$425,700	150 ft
1517 11TH AVE S MINNEAPOLIS MN 55404	YIBEYIN ALEMU	TRIPLEX	$561,300	200 ft
918 13TH AVE S MINNEAPOLIS MN 55404	CCP MINNEAPOLIS 7005 LLC	MED/CARE FACILITY	$157,700	207 ft
1515 11TH AVE S MINNEAPOLIS MN 55404	ALFONSO VELEZ/GLORIA A VELEZ	APARTMENT	$527,400	251 ft
912 13TH AVE S MINNEAPOLIS MN 55404	PATTI K WETTLIN	RESIDENTIAL-TWO UNIT	$362,400	263 ft
1215 9TH ST S MINNEAPOLIS MN 55404	CCP MINNEAPOLIS 7005 LLC	MED/CARE FACILITY	$6,660,000	289 ft

Property History

Most Recent Sale

Date202507

Price$280,100

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$6,223