2212 COLFAX AVE S MINNEAPOLIS MN 55405

PID: 3302924110093

Property Overview

Parcel ID3302924110093

Lot Size7,779 sq ft (0.179 ac)

Lot Dimensions (est.)134 ft wide × 58 ft deep

Year Built1900

Property ClassRESIDENTIAL

OwnerMICHAEL J MELROSE

Assessed Value$717,000

Land Value$160,000

Building Value$557,000

Annual Tax$11,816

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

2 permits on record since 2019 · $215K total declared value · Most recent: Jul 2024 (misc)

MiscJul 2024Final Inspection

$187K

ALL ELEMENTS INC

MiscMay 2019Closed

$28K

ALL ELEMENTS INC

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

Neighborhood Profile

Lowry Hill East · Minneapolis

Median reported rent1,194/mo

Renter-occupied84.0%

Median home value$388K

Vacancy rate3.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1067

Market Snapshot

Zip code 55405

Median sale price$530K+73.8% YoY

Median price / sqft$270/sqft

Median days to close45 days

Active listings39

Source: Redfin Data Center (Invalid Date) · Zip 55405

Zoning

UN3Urban Neighborhood 3

Urban Neighborhood 3 — medium-density residential

Typical Uses

·Apartment buildings
·Mixed-use with neighborhood retail

Max Height50 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width48 ft

Buildable depth94 ft

Area~4,516 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 4,516 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
2210 COLFAX AVE S MINNEAPOLIS MN 55405	ALEX JACOBSON & LAURA EIDEM	APARTMENT	$630,000	58 ft
2204 COLFAX AVE S MINNEAPOLIS MN 55405	PETER S KIM/ERIC T MEININGER	RESIDENTIAL	$460,700	116 ft
2301 DUPONT AVE S MINNEAPOLIS MN 55405	WASHBURN-MCREAVY PRPRTS LLP	COMMERCIAL-PREFERRED	$3,933,500	122 ft
2306 COLFAX AVE S MINNEAPOLIS MN 55405	D&P RENTALS LLC	TRIPLEX	$592,000	163 ft
2200 COLFAX AVE S MINNEAPOLIS MN 55405	JACQUES R CHAMPINE	RESIDENTIAL	$624,900	174 ft
2201 HENNEPIN AVE MINNEAPOLIS MN 55405	2201 HENNEPIN LLC	COMMERCIAL-PREFERRED	$494,000	187 ft
2217 COLFAX AVE S MINNEAPOLIS MN 55405	DANFORTH FLEAK	TRIPLEX	$710,500	202 ft
2310 COLFAX AVE S MINNEAPOLIS MN 55405	2310 COLFAX LLC	APARTMENT	$493,000	210 ft
2211 COLFAX AVE S MINNEAPOLIS MN 55405	HORNIG D & E LTD PARTNERSHIP	APARTMENT	$4,380,000	213 ft
2301 COLFAX AVE S MINNEAPOLIS MN 55405	ALYSSA ERICKSON ETAL	RESIDENTIAL	$555,400	222 ft

Property History

Most Recent Sale

Date201212

Price$512,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$11,816