2449 COLFAX AVE S MINNEAPOLIS MN 55405

PID: 3302924140095

Property Overview

Parcel ID3302924140095

Lot Size5,794 sq ft (0.133 ac)

Lot Dimensions (est.)129 ft wide × 45 ft deep

Year Built1900

Property ClassRESIDENTIAL-TWO UNIT

OwnerJUDITH A SCHWARTAU TRUST

Assessed Value$467,500

Land Value$156,000

Building Value$311,500

Annual Tax$7,147

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

Permit History

4 permits on record since 2018 · $46K total declared value · Most recent: Oct 2024 (misc)

MiscOct 2024Closed

$40K

KAUFMAN SHEET METAL ROOFING INC

ResNov 2021Closed

Urban Pine Plumbing and Mechanical Inc

ExistresJul 2018Closed

Standard Heating and Air Conditioning Inc

MiscJul 2018Closed

$6K

Holmlund Masonry 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

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 width116 ft

Buildable depth5 ft

Area~2,840 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 2,840 sqft buildable area.

Est. units

Yield on cost

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2447 COLFAX AVE S MINNEAPOLIS MN 55405	B K RENGSTORF/E R AUNE/ET AL	RESIDENTIAL-TWO UNIT	$499,500	45 ft
2441 COLFAX AVE S MINNEAPOLIS MN 55405	C BORGER & C M H BORGER	RESIDENTIAL	$489,700	90 ft
2437 COLFAX AVE S MINNEAPOLIS MN 55405	KATHLEEN A KULLBERG	RESIDENTIAL-TWO UNIT	$501,900	136 ft
900 25TH ST W MINNEAPOLIS MN 55405	MJB 1031 2021 LLC ET AL	APARTMENT	$1,259,000	140 ft
2444 BRYANT AVE S MINNEAPOLIS MN 55405	ASHLEY LOWES & CHARLES RYBAK	RESIDENTIAL	$794,000	148 ft
2442 BRYANT AVE S MINNEAPOLIS MN 55405	T M KULLBERG & A L STENSON	TRIPLEX	$643,500	167 ft
2433 COLFAX AVE S MINNEAPOLIS MN 55405	FMB LLC	RESIDENTIAL-TWO UNIT	$588,000	181 ft
2446 COLFAX AVE S MINNEAPOLIS MN 55405	2446 COLFAX LLC	APARTMENT	$2,610,000	190 ft
2436 BRYANT AVE S MINNEAPOLIS MN 55405	MARIT AARSHEIM	RESIDENTIAL	$565,700	196 ft
2440 COLFAX AVE S MINNEAPOLIS MN 55405	C F NELSON & S MERMELSTEIN	RESIDENTIAL	$669,100	214 ft

Property History

Most Recent Sale

Date199402

Price$1

Type—

Current Tax Year

Year2026

Tax Due$7,147