3324 24TH AVE S MINNEAPOLIS MN 55406

PID: 0102824240047

Property Overview

Parcel ID0102824240047

Lot Size8,575 sq ft (0.197 ac)

Lot Dimensions (est.)171 ft wide × 50 ft deep

Year Built1920

Property ClassRESIDENTIAL

OwnerWILLIAM PALMER

Assessed Value$242,000

Land Value$128,000

Building Value$114,000

Annual Tax$3,787

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Potential programs

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

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

Permit History

1 permit on record since 2024 · $10K total declared value · Most recent: May 2024 (misc)

MiscMay 2024Closed

$10K

Bonfe Exteriors

Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.

Neighborhood Profile

Corcoran · Minneapolis

Median reported rent1,426/mo

Renter-occupied41.7%

Median home value$261K

Vacancy rate3.7%

ACS rents reflect current tenant leases and may differ from new market rents.

Source: 2022 ACS 5-Year Estimates · Census Tract 1087

Market Snapshot

Zip code 55406

Median sale price$340K+3.0% YoY

Median price / sqft$248/sqft

Median days to close21 days

Active listings39

Source: Redfin Data Center (Invalid Date) · Zip 55406

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 width40 ft

Buildable depth131 ft

Area~5,259 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 5,259 sqft buildable area.

Est. units

Yield on cost

3.9%

Spread

-1.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3328 24TH AVE S MINNEAPOLIS MN 55406	SONIA L MEADE	RESIDENTIAL	$230,300	46 ft
3320 24TH AVE S MINNEAPOLIS MN 55406	B R WALSH & R L ANCASI	RESIDENTIAL	$344,900	50 ft
3334 24TH AVE S MINNEAPOLIS MN 55406	ANNE C SCHINDELDECKER	RESIDENTIAL	$266,000	90 ft
3316 24TH AVE S MINNEAPOLIS MN 55406	L M NIELSEN & K M NIELSEN	RESIDENTIAL	$305,000	100 ft
3336 24TH AVE S MINNEAPOLIS MN 55406	ERIC BIEDERMAN/K LEIBFRIED	RESIDENTIAL	$254,000	129 ft
3310 24TH AVE S MINNEAPOLIS MN 55406	ELAINE L MADTSON	RESIDENTIAL	$323,400	145 ft
3340 24TH AVE S MINNEAPOLIS MN 55406	ROBERT LICARI	RESIDENTIAL	$387,700	168 ft
2316 34TH ST E MINNEAPOLIS MN 55406	R M SHELDON & N E PETERS	RESIDENTIAL	$248,000	170 ft
3308 24TH AVE S MINNEAPOLIS MN 55406	CLEO LACEY & IAN BRAUER	RESIDENTIAL	$371,000	185 ft
3325 23RD AVE S MINNEAPOLIS MN 55407	PATRICK J BYRNE SUBJ L/E	RESIDENTIAL	$383,800	187 ft

Property History

Current Tax Year

Year2026

Tax Due$3,787