3045 11TH AVE S MINNEAPOLIS MN 55407

PID: 0202824210158

Property Overview

Parcel ID0202824210158

Lot Size4,936 sq ft (0.113 ac)

Lot Dimensions (est.)123 ft wide × 40 ft deep

Year Built1910

Property ClassRESIDENTIAL-TWO UNIT

OwnerDIANE CULLUMBER

Assessed Value$376,000

Land Value$68,000

Building Value$308,000

Annual Tax$5,768

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Qualified Census Tract (QCT)High

Within a HUD-designated Qualified Census Tract — LIHTC projects here receive a 30% basis boost, significantly increasing the tax credit allocation for affordable housing development.

HUD — LIHTC Qualified Census Tracts ↗

Potential programs

LIHTC 30% Basis BoostMedium

Affordable housing developments in QCTs receive a 30% increase in eligible basis for Low Income Housing Tax Credits — materially improving project feasibility. Allocated through MHFA.

HUD — LIHTC Qualified Census Tracts ↗

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 rent1,157/mo

Renter-occupied51.4%

Median home value$305K

Vacancy rate5.2%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 85

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 width30 ft

Buildable depth83 ft

Area~2,501 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 2,501 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
3041 11TH AVE S MINNEAPOLIS MN 55407	M K BROOKE & R D KINSELL	RESIDENTIAL	$199,700	40 ft
3049 11TH AVE S MINNEAPOLIS MN 55407	SHARON LEE SMITH	TRIPLEX	$326,800	50 ft
3039 11TH AVE S MINNEAPOLIS MN 55407	E L LORENZ & R A LORENZ	RESIDENTIAL	$257,800	80 ft
3035 11TH AVE S MINNEAPOLIS MN 55407	A CARLSON & D C CARLSON	RESIDENTIAL	$274,500	120 ft
3044 12TH AVE S MINNEAPOLIS MN 55407	JENESIS H FONDER	RESIDENTIAL-TWO UNIT	$361,400	135 ft
3040 12TH AVE S MINNEAPOLIS MN 55407	MARY M PIERCE	RESIDENTIAL-TWO UNIT	$408,600	140 ft
3048 12TH AVE S MINNEAPOLIS MN 55407	M E ERICKSON ET AL	APARTMENT	$467,000	144 ft
3036 12TH AVE S MINNEAPOLIS MN 55407	ALVARO RIVERA	RESIDENTIAL	$258,900	156 ft
3101 11TH AVE S MINNEAPOLIS MN 55407	NICOLE PAMELIA/DEREK FARDER	RESIDENTIAL	$328,200	161 ft
3031 11TH AVE S MINNEAPOLIS MN 55407	PAUL VAN DER WERF ET AL	TRIPLEX	$431,400	161 ft

Property History

Most Recent Sale

Date201507

Price$235,000

TypePROBATE DEED

Current Tax Year

Year2026

Tax Due$5,768