1776 COLFAX AVE S MINNEAPOLIS MN 55403

PID: 2802924440076

Property Overview

Parcel ID2802924440076

Lot Size8,086 sq ft (0.186 ac)

Lot Dimensions (est.)134 ft wide × 60 ft deep

Year Built1905

Property ClassRESIDENTIAL

OwnerS G SHAFFER & E A SHAFFER

Assessed Value$1,322,000

Land Value$276,000

Building Value$1,046,000

Annual Tax$23,261

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Potential programs

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

3 permits on record since 2023 · $20K total declared value · Most recent: Oct 2023 (misc)

MiscOct 2023Closed

$20K

Kingfisher Construction

ExistresJun 2023Closed

Air Mechanical Inc

ExistresMay 2023Closed

Air Mechanical Inc

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

Neighborhood Profile

Lowry Hill · Minneapolis

Median reported rent1,289/mo

Renter-occupied58.6%

Median home value$620K

Vacancy rate3.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1055

Market Snapshot

Zip code 55403

Median sale price$315K+32.9% YoY

Median price / sqft$205/sqft

Median days to close111 days

Active listings62

Source: Redfin Data Center (Invalid Date) · Zip 55403

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 width50 ft

Buildable depth95 ft

Area~4,736 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 4,736 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1772 COLFAX AVE S MINNEAPOLIS MN 55403	PAUL E PENDER TRST	RESIDENTIAL	$1,091,800	55 ft
1004 SUMMIT AVE MINNEAPOLIS MN 55403	MOSI K BENNETT TRUST ET AL	RESIDENTIAL	$1,902,000	90 ft
1768 COLFAX AVE S MINNEAPOLIS MN 55403	PATRICK B PORTER-LOBER TRUST	RESIDENTIAL	$781,000	115 ft
1779 DUPONT AVE S MINNEAPOLIS MN 55403	J & M PALEN	RESIDENTIAL	$706,700	136 ft
1777 DUPONT AVE S MINNEAPOLIS MN 55403	BRIAN R MELENDEZ	RESIDENTIAL	$1,049,000	137 ft
1785 DUPONT AVE S MINNEAPOLIS MN 55403	MICHAEL AMOFAH	RESIDENTIAL	$1,352,100	154 ft
1769 DUPONT AVE S MINNEAPOLIS MN 55403	1769 DUPONT LLC	CONDOMINIUM	$719,000	169 ft
1769 DUPONT AVE S MINNEAPOLIS MN 55403	R C SHULSTAD/M R SHULSTAD TR	CONDOMINIUM	$709,000	169 ft
MN	Unknown	—	—	169 ft
1787 DUPONT AVE S MINNEAPOLIS MN 55403	MARK W TIERNEY	RESIDENTIAL	$1,244,000	183 ft

Property History

Most Recent Sale

Date201209

Price$1,120,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$23,261