3025 PARK AVE MINNEAPOLIS MN 55407

PID: 0202824220031

Property Overview

Parcel ID0202824220031

Lot Size4,739 sq ft (0.109 ac)

Lot Dimensions (est.)119 ft wide × 40 ft deep

Year Built1937

Property ClassAPARTMENT

OwnerJONATHAN WOLF/KATHERINE WOLF

Assessed Value$454,000

Land Value$66,400

Building Value$387,600

Annual Tax$8,622

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

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

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Minneapolis

Median reported rent1,458/mo

Renter-occupied34.5%

Median home value$302K

Vacancy rate11.2%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 84

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 depth78 ft

Area~2,354 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 2,354 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
3029 PARK AVE MINNEAPOLIS MN 55407	UBAH ABDI	RESIDENTIAL	$392,000	40 ft
3021 PARK AVE MINNEAPOLIS MN 55407	AKY GROUP LLC	RESIDENTIAL	$463,000	40 ft
3033 PARK AVE MINNEAPOLIS MN 55407	3033 PARK AVENUE MN LLC	TRIPLEX	$465,900	80 ft
3017 PARK AVE MINNEAPOLIS MN 55407	EVAN M KRALJIC	RESIDENTIAL-TWO UNIT	$456,600	80 ft
3037 PARK AVE MINNEAPOLIS MN 55407	MANUEL LALA & DIANA G VEGA	RESIDENTIAL-TWO UNIT	$306,200	120 ft
3013 PARK AVE MINNEAPOLIS MN 55407	MANUEL SAUL BUNAY CABRERA	RESIDENTIAL	$332,900	120 ft
3024 COLUMBUS AVE MINNEAPOLIS MN 55407	CHARLES E LANE	RESIDENTIAL	$352,000	130 ft
3020 COLUMBUS AVE MINNEAPOLIS MN 55407	CLARICE ANN WILSON	RESIDENTIAL-TWO UNIT	$351,200	136 ft
3028 COLUMBUS AVE MINNEAPOLIS MN 55407	HUGO CARRANZA SALDIVAR	TRIPLEX	$377,600	137 ft
3016 COLUMBUS AVE MINNEAPOLIS MN 55407	STEPHANIE ANN REINITZ	RESIDENTIAL-TWO UNIT	$428,700	152 ft

Property History

Most Recent Sale

Date202603

Price$428,800

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$8,622