3220 10TH AVE S MINNEAPOLIS MN 55407

PID: 0202824240006

Property Overview

Parcel ID0202824240006

Lot Size5,099 sq ft (0.117 ac)

Lot Dimensions (est.)127 ft wide × 40 ft deep

Year Built1896

Property ClassRESIDENTIAL-TWO UNIT

OwnerDAVID & BARBARA TILSEN FM TR

Assessed Value$341,200

Land Value$71,000

Building Value$270,200

Annual Tax$5,273

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 depth87 ft

Area~2,623 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 2,623 sqft buildable area.

Est. units

Yield on cost

3.6%

Spread

-1.9%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3216 10TH AVE S MINNEAPOLIS MN 55407	TERESA HICHENS-OLSON ET AL	RESIDENTIAL-TWO UNIT	$294,200	40 ft
3224 10TH AVE S MINNEAPOLIS MN 55407	JANET BINDER	RESIDENTIAL	$318,900	40 ft
3212 10TH AVE S MINNEAPOLIS MN 55407	C R ELLIS & G W ELLIS	RESIDENTIAL	$379,000	80 ft
3228 10TH AVE S MINNEAPOLIS MN 55407	M B FREEMAN & M A BERNHARDT	RESIDENTIAL-TWO UNIT	$305,100	80 ft
3208 10TH AVE S MINNEAPOLIS MN 55407	J E DAVIDSON & J M MILLER	RESIDENTIAL	$418,700	120 ft
3232 10TH AVE S MINNEAPOLIS MN 55407	MARY ADAM	RESIDENTIAL	$305,800	120 ft
3221 ELLIOT AVE MINNEAPOLIS MN 55407	K LOCONTO & T HARMON	RESIDENTIAL	$262,700	139 ft
3225 ELLIOT AVE MINNEAPOLIS MN 55407	COMMUNITY HOUSING RESOURCES	RESIDENTIAL	$0	144 ft
3217 ELLIOT AVE MINNEAPOLIS MN 55407	NANCY CECILIA SOTAMBA	RESIDENTIAL-TWO UNIT	$314,700	145 ft
3204 10TH AVE S MINNEAPOLIS MN 55407	SALVATORE SALERNO	RESIDENTIAL	$279,800	159 ft

Property History

Most Recent Sale

Date199907

Price$27,225

Type—

Current Tax Year

Year2026

Tax Due$5,273