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5501 Columbus Avenue

5501 Columbus Avenue, Minneapolis, MN 55417
Property in Diamond Lake
Sold Apr 21, 2023
$625,600
$500,480 by Alerus Financial Na
Mortgage Due May 01, 2053
Sold Apr 17, 2023
$625,600
$500,480
Mortgage
Local assessors in Minneapolis, MN have categorized 5501 Columbus Avenue as a residential type of property. The home was built in 1938 and is 86 years old. The property's lot size has been calculated to be 6,970 square feet. The linear feet between the front and back of the lot was measured at 1,240 ft and the front of the lot was measured at 570 ft. Now, let's dive a bit deeper into the details surrounding the home on the property. There are 8 rooms in the home. Of these, 3 have been legally categorized as bedrooms. For more details, please view your local government regulations on what counts as a legal bedroom. As for the restroom situation, there are 2 full bathrooms. There are also 2 partial bathrooms. This is a 2 story home so residents will need to have climb at least one set of stairs on a daily basis. If we look only at the heated or air conditioned part of the building, then 5501 Columbus Avenue has a total of 1,908 sqft of living area. Note that this number does not include the square footage of the garage, basement, and/or porch into its calculations.

Curious to learn more about the home? Our team of data engineers have sourced the most up-to-date information from the local assessors office to share with you. Additional features on the property are as follows. There is a detached garage for those who need a place to park their vehicle. There are 2 available parking spaces so it's a great situation for those with more than one car. Do you like to entertain? The home has a unknown so you'll have a great option in the front of the home. Moving onto specific details regarding the building. Our sources show that the building condition is average. It might sound scary but did you know that buildings can move depending on the weather? Both hot and cold weather can have severe impact on the longevity of your home structure depending on how much your home moves. Hence why architects pay a lot of attention to the type of control joints used in the construction process. Just so you know, this home was built with wood control joints. Not only do we know the type, but we also know that the assessors have graded the quality of these control joints with a letter grade - C. The building has a gable style roof that was made of asphalt. Lots of brick were used in the construction of the exterior walls of the home. Residents rely on air conditioning for their cooling system. The home's a forced air unit is the primary heating source. There is a single fireplace in the home which may result in additional cleaning fees for the homeowner. Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users. Based on our sources, 5501 Columbus Avenue was last sold in Apr 17, 2023 for $625,600. According to our calculations, that's $327.88 per sqft. Prior to that sales transaction, the property was sold for $625,600 in Apr 17, 2023. Current property owners are expected to pay $7,488 in taxes per year. The property on 5501 Columbus Avenue was last assessed in 2022. As a result of that assessment, the total value of the property was placed at $533,000. To break that down further, the land itself was valued at $180,000. While improvements to the property were assessed at a total of $353,000. Based on our records, the total market value for this property has been marked the same as the total assessed value as of this moment. Which is nothing out of the ordinary. The process of purchasing a home may seem daunting and challenging for many first-time prospective homebuyers. No worries! We've broken down the overall homebuying process into detailed steps and have also included a breakdown on the general amount of time you'll need for each step you have to take. For example, most people don't know that the most important first step of any home buying process is to get pre-approved for a mortgage! With a few months of hard work, you will soon be the proud owner of your property and home.This property is not listed for sale at this point in time but RealtyHop is constantly updating our inventory of available sales listings in real time. Don't want to miss out on this property? You can save the listing to your favorites by signing up for a RealtyHop account or you can check back frequently for updates.

This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1938
  • Effective Year Built: 1938
  • Total Rooms: 8
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: Average
  • Building Quality: C
  • Construction Type: Wood
  • Exterior Walls Type: Brick
  • Roof Shape Type: Gable
  • Roof Cover Type: Asphalt
  • Floor Count: 2
  • Basement Type: Unspecified basement
  • Basement Area: 1,038
  • Garage Type: Detached
  • Parking Space Count: 2

    Dimensions

  • Lot Size Square Feet: 6,970
  • Lot Size Depth Feet: 1,240
  • Lot Size Frontage Feet: 570
  • Total Building Area: 1,908
  • Building Area: 1,908
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: Yes
  • Heating: Forced air unit
  • Heated Square Feet: 1,908
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: PARK AVE TERRACE
  • Land Acres: 0.16
  • Standard Land Use Code: Single family residential
  • Legal Description 1: 024 006 PARK AVE TERRACE 57.00 X 124.00

Ownership

  • Current Owner : STEWART MITCHELL AUSTIN
  • Current Owner 2: STEWART TAYLOR LEE
  • Previous Owner : WIPF ANDREW J
  • Previous Owner 2: WIPF KELSEY M
  • Owner Before Previous Owner: WIPF ANDREW
  • Owner Before Previous Owner 2: WIPF KELSEY
  • Is Owner Occupied: Owner-occupied property
  • Ownership Rights Codes: Tenants in Common

Neighborhood

  • School District Name: Minneapolis Public School District
  • School Tax School District: MINNEAPOLIS
  • Census Tract: 012003

Zoning

  • Zoning: R1

Geography

  • Assessors Map Reference: MB:23670
  • District: 01
  • Parcel: 23-028-24-22-0139
  • Block: 6
  • Lot: 24
  • Meridian: SEC 23 QTR 22 TWN 028 RNG 24
  • Municipality: MINNEAPOLIS
  • Latitude: 44.9033
  • Longitude: -93.2636

    Address

  • Full Address: 5501 Columbus Ave
  • Address - House Number: 5501
  • Address - Street Name: Columbus
  • Address - Suffix Type: Ave
  • State: MN
  • City Name: Minneapolis
  • Carrier Code: C009
  • 4-Digit Zip Code: 2434
  • Zip Code: 55417

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $7,488

    Appraisal Valuation

  • Standard Deviation: 0.2085
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 71
  • Final Value: 627,328
  • High Value: 758,138
  • Low Value: 496,518

    Open Liens

  • Total Open Liens: 2
  • Total Open Liens Amount: $1,000,960
  • First Open Lien Mortgage Lender: ALERUS FINANCIAL NA
  • First Open Lien Mortgage Recording Date: Apr 21, 2023
  • First Open Lien Mortgage Loan Amount: $500,480
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: May 01, 2053
  • Second Open Lien Mortgage Recording Date: Apr 17, 2023
  • Second Open Lien Mortgage Loan Amount: $500,480
  • Second Open Lien Mortgage Term: 360
  • Second Open Lien Mortgage Position: 2
  • Second Open Lien Mortgage Loan Type: New Conventional
  • Second Open Lien Mortgage Loan Due Date: Apr 17, 2053

    Market Valuation

  • Market Total Value: $533,000
  • Market Land Value: $180,000
  • Market Improvement Value: $353,000

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $533,000
  • Assessed Land Value: $180,000
  • Assessed Improvements Value: $353,000

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Apr 17, 2023
  • Current Sale Recording Date: Apr 21, 2023
  • Current Sale Transaction ID: 11906513950
  • Current Sale Price: $625,600
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 11195164
  • Previous Sale Recording Date: Apr 17, 2023
  • Previous Sale Contract Date: Apr 17, 2023
  • Previous Sale Amount: $625,600
  • Previous Sale Document Type: Deed

    Last Sale Mortgage

  • First Mortgage Lender: ALERUS FINANCIAL NA
  • First Mortgage Transaction Date: Apr 21, 2023
  • First Mortgage Loan Amount: $500,480
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: New Conventional
  • First Mortgage Loan Due Date: May 01, 2053

    Previous Mortgages

  • Previous Mortgage Transaction Date: Apr 17, 2023
  • Previous Mortgage Loan Amount: $500,480
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: New Conventional

About Nokomis



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Frequently Asked Questions

What neighborhood is 5501 Columbus Avenue located in?
The 5501 Columbus Avenue is a located in the neighborhood of Diamond Lake in Nokomis, Minneapolis.
What is the average sales price for listings in 5501 Columbus Avenue?
The average sales price for units in 5501 Columbus Avenue is $0 currently.

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