2621 COLFAX AVE S MINNEAPOLIS MN 55408

PID: 3302924410014

Property Overview

Parcel ID3302924410014

Lot Size5,149 sq ft (0.118 ac)

Lot Dimensions (est.)129 ft wide × 40 ft deep

Year Built1908

Property ClassAPARTMENT

OwnerHYGGE RENTALS LLC

Assessed Value$405,000

Land Value$153,900

Building Value$251,100

Annual Tax$7,662

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

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

Permit History

No permits found in Minneapolis open data for this parcel.

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 55408

Median sale price$390K+6.8% YoY

Median price / sqft$243/sqft

Median days to close62 days

Active listings73

Source: Redfin Data Center (Invalid Date) · Zip 55408

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 width30 ft

Buildable depth89 ft

Area~2,661 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 2,661 sqft buildable area.

Est. units

Yield on cost

3.3%

Spread

-2.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2625 COLFAX AVE S MINNEAPOLIS MN 55408	MICHAEL L ZIMMERMAN	RESIDENTIAL-TWO UNIT	$429,900	40 ft
2617 COLFAX AVE S MINNEAPOLIS MN 55408	MUCKERHEIDE PROPERTIES LLC	RESIDENTIAL-TWO UNIT	$480,000	40 ft
2629 COLFAX AVE S MINNEAPOLIS MN 55408	WYATT MCDILL & MEGAN HUBER	RESIDENTIAL-TWO UNIT	$527,800	80 ft
2613 COLFAX AVE S MINNEAPOLIS MN 55408	JOSEPH BROOKSBANK	RESIDENTIAL-TWO UNIT	$497,100	80 ft
2633 COLFAX AVE S MINNEAPOLIS MN 55408	EMILY M ANDERSON	RESIDENTIAL	$398,700	120 ft
2609 COLFAX AVE S MINNEAPOLIS MN 55408	NICHOLAS DAVID WETZEL	RESIDENTIAL-TWO UNIT	$542,800	120 ft
2618 BRYANT AVE S MINNEAPOLIS MN 55408	J A HETZEL & T S HETZEL	RESIDENTIAL	$524,000	142 ft
2624 BRYANT AVE S MINNEAPOLIS MN 55408	CATRIONA STUART	RESIDENTIAL-TWO UNIT	$754,700	143 ft
2607 COLFAX AVE S MINNEAPOLIS MN 55408	JACOB LANGNESS	RESIDENTIAL-TWO UNIT	$405,000	158 ft
2628 BRYANT AVE S MINNEAPOLIS MN 55408	ELLIOT GREEN TRUST	RESIDENTIAL	$646,000	160 ft

Property History

Most Recent Sale

Date202002

Price$530,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$7,662