From $550k to . . . $166k

70% Off!

Where: 30xx Colfax Ave. South in Minneapolis' Uptown neighborhood
What: Uptown Triplex with 2,700 FSF
How much: $166,250
When: listed yesterday (9/30) with Coldwell Banker Burnet

Once upon a time -- like 2006 -- this Uptown property was listed for $550,000.

Today, it can be purchased from its bank-owner for $166,250.

It comes with a $7,000 property tax bill, but since that's pegged to a tax assessed value of $398,500, you'd certainly expect that to drop.

What's Up With Uptown?

Busy Thursday Night

What's up with Uptown?

A lot, it turns out.

Last night, I wandered around the newly redesigned Calhoun Square (BIG improvement) while noshing on all the free food vendors were giving out; went across the street for some great Thai food (not free); and heard a new hip-hop group, called "No Bird Sing."

Not "went to see"-- rather, "heard," as in, "they were so loud I literally couldn't avoid hearing them as I walked by." (that seemed to be a minority take, though).

What's that, you didn't realize Uptown had a new music venue?

No Bird Sing was playing at the new Apple store on Hennepin -- one of the coolest retail stores I've ever been in, anywhere (skylights, 30' (?) ceilings, electronic wall displays -- and of course, throngs of people).

How Walkable is Your Neighborhood?

Home Amenities: Floor Plan, Updates . . . 'Walkability'

How "walkable" is any given neighborhood?

You can find out by going to http://www.walkscore.com/ and typing in an address.

The site, which covers 40 U.S. metro areas, generates a map of nearby services (restaurants, groceries, book stores, coffee shops, dry cleaning, etc.), and calculates both a "walkability" score (from 1-100) and an average for the surrounding city.

I tested it by entering three addresses: my current address, just southwest of Cedar Lake in Minneapolis; my former address in the Fulton neighborhood in Southwest Minneapolis; and Lake & Hennepin, the epicenter of Uptown -- and easily the most "walkable" part of Minneapolis.

I thought the scores -- 71, 50, and 98 -- were generally accurate, though "50" for Fulton seemed on the low side (50th Street is full of great shops, local stores, etc.).

Not only is being able to walk to things a nice amenity, there's increasing evidence that it correlates with higher property values (makes sense).

P.S.: Of course, "walkability" is at least partly subjective. My father-in-law takes long walks just feet away from Union Turnpike in Queens, where the cars go whizzing by at 50 mph-plus.