3501 16TH AVE S MINNEAPOLIS MN 55407

PID: 0202824410090

Property Overview

Parcel ID0202824410090

Lot Size4,863 sq ft (0.112 ac)

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

Year Built1946

Property ClassRESIDENTIAL-TWO UNIT

OwnerJ M THORNTON & T A JOHNSON

Assessed Value$443,000

Land Value$79,000

Building Value$364,000

Annual Tax$6,968

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

5 permits on record since 2018 · $29K total declared value · Most recent: Feb 2025 (res)

ResFeb 2025Closed

Dean's Professional Plumbing Inc

ResJun 2024Closed

Urban Pine Plumbing and Mechanical Inc

MiscOct 2022Closed

$29K

RENEWAL BY ANDERSEN CORP

ResDec 2020Closed

CHAMPION PLUMBING LLC

ExistresNov 2018Closed

McQuillan Bros Plumbing Heating & AC LLC

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

Neighborhood Profile

Powderhorn Park · Minneapolis

Median reported rent1,384/mo

Renter-occupied31.1%

Median home value$271K

Vacancy rate4.5%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1097

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

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width109 ft

Buildable depth0 ft

Area~2,203 sqft

Lot dimensions are insufficient for the standard setbacks shown.

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 2,203 sqft buildable area.

Est. units

Yield on cost

3.4%

Spread

-2.1%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3505 16TH AVE S MINNEAPOLIS MN 55407	R C BERRY & R E BERRY	RESIDENTIAL-TWO UNIT	$460,100	40 ft
3509 16TH AVE S MINNEAPOLIS MN 55407	BEACON PROPERTIES LLC	RESIDENTIAL-TWO UNIT	$385,000	80 ft
3457 16TH AVE S MINNEAPOLIS MN 55407	E M JIMENEZ & A JIMENEZ	RESIDENTIAL	$186,800	95 ft
3515 16TH AVE S MINNEAPOLIS MN 55407	L MCCOY III & K S MCCOY	RESIDENTIAL	$380,000	120 ft
3453 16TH AVE S MINNEAPOLIS MN 55407	CHRIS DUREN	RESIDENTIAL-TWO UNIT	$320,300	130 ft
3500 17TH AVE S MINNEAPOLIS MN 55407	A T HAGER & J R MULLIS	RESIDENTIAL	$248,600	136 ft
3504 17TH AVE S MINNEAPOLIS MN 55407	RAHSAAN S WHITE	RESIDENTIAL	$256,900	141 ft
3508 17TH AVE S MINNEAPOLIS MN 55407	M ETHEN & E M ESSERT	RESIDENTIAL	$374,700	158 ft
3517 16TH AVE S MINNEAPOLIS MN 55407	Y MARQUEZ & R MARQUEZ	RESIDENTIAL	$291,800	160 ft
3449 16TH AVE S MINNEAPOLIS MN 55407	K S JOHNSTAD & W H RICHMOND	RESIDENTIAL	$353,700	170 ft

Property History

Most Recent Sale

Date199409

Price$105,500

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$6,968