2726 COLFAX AVE S MINNEAPOLIS MN 55408

PID: 3302924410111

Property Overview

Parcel ID3302924410111

Lot Size7,800 sq ft (0.179 ac)

Lot Dimensions (est.)129 ft wide × 61 ft deep

Year Built1900

Property ClassAPARTMENT

OwnerKI COLFAX LLC

Assessed Value$725,000

Land Value$389,100

Building Value$335,900

Annual Tax$13,716

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

1 permit on record since 2023 · $9K total declared value · Most recent: Jan 2023 (commfdrr)

CommfdrrJan 2023Closed

$9K

Aaztec Heating and Air Conditioning 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 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 width51 ft

Buildable depth88 ft

Area~4,487 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 4,487 sqft buildable area.

Est. units

Yield on cost

3.4%

Spread

-2.1%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
MN	Unknown	—	—	62 ft
2720 COLFAX AVE S MINNEAPOLIS MN 55408	DOLORES A WAALK	RESIDENTIAL	$378,000	62 ft
2736 COLFAX AVE S MINNEAPOLIS MN 55408	WEDGE 27 LLC	APARTMENT	$1,237,000	70 ft
2716 COLFAX AVE S MINNEAPOLIS MN 55408	D & M KRAUSE	RESIDENTIAL	$475,000	108 ft
2738 COLFAX AVE S MINNEAPOLIS MN 55408	POSITIVE DEVELOPMENTS LLC	RESIDENTIAL-TWO UNIT	$425,000	130 ft
2727 DUPONT AVE S MINNEAPOLIS MN 55408	ANDREW M GLOCKNER	RESIDENTIAL-TWO UNIT	$473,400	141 ft
2725 DUPONT AVE S MINNEAPOLIS MN 55408	2725 DUPONT AVE S LLC	RESIDENTIAL-TWO UNIT	$470,700	142 ft
2731 DUPONT AVE S MINNEAPOLIS MN 55408	H AND H REAL ESTATE LLC	RESIDENTIAL-TWO UNIT	$441,800	149 ft
2712 COLFAX AVE S MINNEAPOLIS MN 55408	PER HANNES MALMBERG	RESIDENTIAL	$579,200	154 ft
2719 DUPONT AVE S MINNEAPOLIS MN 55408	I P & I R KRIEVANS	APARTMENT	$726,000	158 ft

Property History

Most Recent Sale

Date200509

Price$63,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$13,716