3451 24TH AVE S MINNEAPOLIS MN 55406

PID: 0102824420061

Property Overview

Parcel ID0102824420061

Lot Size4,893 sq ft (0.112 ac)

Lot Dimensions (est.)122 ft wide × 40 ft deep

Year Built1918

Property ClassRESIDENTIAL

OwnerALEX WADE NAKAMOTO

Assessed Value$333,000

Land Value$103,000

Building Value$230,000

Annual Tax$4,728

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

No permits found in Minneapolis open data for this parcel.

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 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 width30 ft

Buildable depth82 ft

Area~2,469 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 2,469 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3455 24TH AVE S MINNEAPOLIS MN 55406	G D THORSETT ET AL	RESIDENTIAL	$344,100	40 ft
3447 24TH AVE S MINNEAPOLIS MN 55406	DOUGLAS J STETZ	RESIDENTIAL	$297,900	40 ft
3443 24TH AVE S MINNEAPOLIS MN 55406	ALICIA WALLACE	RESIDENTIAL	$367,900	80 ft
3439 24TH AVE S MINNEAPOLIS MN 55406	KATIE DOLAN & MEAGAN MCCABE	RESIDENTIAL	$355,500	120 ft
3450 25TH AVE S MINNEAPOLIS MN 55406	OWEN BRAFFORD	RESIDENTIAL	$317,200	136 ft
3501 24TH AVE S MINNEAPOLIS MN 55406	S SORENSEN & B ROLVAAG	RESIDENTIAL	$307,000	139 ft
3446 25TH AVE S MINNEAPOLIS MN 55406	I LUDENIA & R LEGG	RESIDENTIAL	$305,100	142 ft
3454 25TH AVE S MINNEAPOLIS MN 55406	A J STOKKE & S L STOKKE	RESIDENTIAL	$278,000	142 ft
3442 25TH AVE S MINNEAPOLIS MN 55406	SAMUEL SIMMONS JR	RESIDENTIAL	$299,900	158 ft
3435 24TH AVE S MINNEAPOLIS MN 55406	R M FELIX & G M FELIX	RESIDENTIAL	$292,200	160 ft

Property History

Current Tax Year

Year2026

Tax Due$4,728