3505 22ND AVE S MINNEAPOLIS MN 55407

PID: 0102824310036

Property Overview

Parcel ID0102824310036

Lot Size7,210 sq ft (0.166 ac)

Lot Dimensions (est.)171 ft wide × 42 ft deep

Year Built1963

Property ClassAPARTMENT

OwnerCORCORAN FLATS LLC

Assessed Value$835,000

Land Value$114,900

Building Value$720,100

Annual Tax$15,997

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 2021 · Most recent: Oct 2021 (comnofdbv)

ComnofdbvOct 2021Closed

Water Heaters Now Inc

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

Neighborhood Profile

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 55407

Median sale price$340K+1.5% YoY

Median price / sqft$214/sqft

Median days to close22 days

Active listings49

Source: Redfin Data Center (Invalid Date) · Zip 55407

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 width32 ft

Buildable depth132 ft

Area~4,214 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 4,214 sqft buildable area.

Est. units

Yield on cost

4.0%

Spread

-1.5%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3501 22ND AVE S MINNEAPOLIS MN 55407	MICAH EUBANKS	RESIDENTIAL-TWO UNIT	$409,200	42 ft
3509 22ND AVE S MINNEAPOLIS MN 55407	N G ERICKSON & C S ERICKSON	RESIDENTIAL-TWO UNIT	$428,000	46 ft
3513 22ND AVE S MINNEAPOLIS MN 55407	MATTHEW P JOHNSON	RESIDENTIAL	$300,100	88 ft
2221 35TH ST E MINNEAPOLIS MN 55407	R J PETERSON & D R PETERSON	RESIDENTIAL	$276,400	123 ft
3517 22ND AVE S MINNEAPOLIS MN 55407	MYCAH PATRICIA BAIN	RESIDENTIAL-TWO UNIT	$362,600	125 ft
2223 35TH ST E MINNEAPOLIS MN 55407	KRISHNA K DORNEY	RESIDENTIAL-TWO UNIT	$511,000	165 ft
3521 22ND AVE S MINNEAPOLIS MN 55407	G A WITT & J R WITT	RESIDENTIAL	$294,000	167 ft
2206 35TH ST E MINNEAPOLIS MN 55407	RICHARD A ONSLOW	RESIDENTIAL	$214,700	183 ft
2204 35TH ST E MINNEAPOLIS MN 55407	CHRISTOPHER N Y QUIZHPI	RESIDENTIAL	$263,000	186 ft
2214 35TH ST E MINNEAPOLIS MN 55407	M A SENTI & K M BANDY	RESIDENTIAL	$312,400	186 ft

Property History

Most Recent Sale

Date202210

Price$540,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$15,997