3432 CHICAGO AVE MINNEAPOLIS MN 55407

PID: 0202824320023

Property Overview

Parcel ID0202824320023

Lot Size6,024 sq ft (0.138 ac)

Lot Dimensions (est.)123 ft wide × 49 ft deep

Year Built1900

Property ClassRESIDENTIAL

OwnerE J MARTIN & J R MARTIN

Assessed Value$337,100

Land Value$81,000

Building Value$256,100

Annual Tax$4,972

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Opportunity ZoneHigh

Within a federally designated Qualified Opportunity Zone — investors may qualify for capital gains deferrals via a Qualified Opportunity Fund.

HUD Opportunity Zones ↗

Potential programs

Environmental Response FundMedium

Grants and loans for contamination assessment and cleanup on eligible redevelopment sites; does not indicate known contamination.

Minneapolis — Brownfield Grants ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

5 permits on record since 2022 · $59K total declared value · Most recent: Feb 2024 (accessory)

AccessoryFeb 2024Closed

$39K

Eric J Martin

ExistresJan 2024Closed

Home Energy Center Inc

AccessoryNov 2023Closed

$11K

Eric J Martin

ResDec 2022Expired

Warners Stellian Co Inc

MiscJan 2022Closed

$9K

K-DESIGNERS

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

Neighborhood Profile

Central · Minneapolis

Median reported rent1,284/mo

Renter-occupied41.2%

Median home value$251K

Vacancy rate2.6%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 95

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

RM1Residence Goods and Services

Residential Mixed-Use 1 — low-density mixed residential

Typical Uses

·Apartments
·Townhomes
·Neighborhood-scale retail on ground floor

Max Height45 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width39 ft

Buildable depth83 ft

Area~3,232 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 3-story wood frame (5–12 units) benchmarks for 3,232 sqft buildable area.

Est. units

Yield on cost

4.1%

Spread

-1.4%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3428 CHICAGO AVE MINNEAPOLIS MN 55407	BLANCA M ARTIEDA	RESIDENTIAL-TWO UNIT	$319,200	49 ft
3436 CHICAGO AVE MINNEAPOLIS MN 55407	WESLEY L WHITESIDE ETAL	RESIDENTIAL	$300,000	49 ft
3424 CHICAGO AVE MINNEAPOLIS MN 55407	MARGARET E DOLL REV TRUST	RESIDENTIAL-TWO UNIT	$288,300	98 ft
3446 CHICAGO AVE MINNEAPOLIS MN 55407	INT CHRISTIAN LITERATURE	RESIDENTIAL	$0	98 ft
3435 COLUMBUS AVE MINNEAPOLIS MN 55407	BARBARA A JENSEN	RESIDENTIAL	$256,000	135 ft
3437 COLUMBUS AVE MINNEAPOLIS MN 55407	ADELE MOSS & JOSEPH GLICK	RESIDENTIAL	$251,400	138 ft
3429 COLUMBUS AVE MINNEAPOLIS MN 55407	MONA WONG	RESIDENTIAL	$226,200	144 ft
3420 CHICAGO AVE MINNEAPOLIS MN 55407	S L MATTEK & W TOWNSEND	RESIDENTIAL-TWO UNIT	$453,800	147 ft
3448 CHICAGO AVE MINNEAPOLIS MN 55407	GLITTER KNITTER PROPERTY LLC	RESIDENTIAL	$624,000	147 ft
3439 COLUMBUS AVE MINNEAPOLIS MN 55407	S A STROMQUIST & D MEHRKENS	RESIDENTIAL	$326,800	152 ft

Property History

Most Recent Sale

Date201404

Price$165,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,972