3654 18TH AVE S MINNEAPOLIS MN 55407

PID: 0202824440241

Property Overview

Parcel ID0202824440241

Lot Size4,921 sq ft (0.113 ac)

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

Year Built2023

Property ClassTRIPLEX

OwnerART INVESTMENT GROUP LLC

Assessed Value$58,900

Land Value$58,000

Building Value$900

Annual Tax$1,969

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

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

4 permits on record since 2023 · $455K total declared value · Most recent: Mar 2025 (commercial minor)

Commercial MinorMar 2025Closed

All Climate Mechanical LLC

CommfdnrMar 2024Closed

$55K

All Climate Mechanical LLC

Commercial MinorNov 2023Closed

Marchand Plumbing and Gas LLC

NewMay 2023Inspection

$400K

DIOR CONSULTING 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

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width30 ft

Buildable depth83 ft

Area~2,490 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 2,490 sqft buildable area.

Est. units

Yield on cost

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3656 18TH AVE S MINNEAPOLIS MN 55407	S ROWE & C L NEUNER	RESIDENTIAL	$233,100	40 ft
3652 18TH AVE S MINNEAPOLIS MN 55407	ART INVESTMENT GROUP LLC	TRIPLEX	$344,100	40 ft
3644 18TH AVE S MINNEAPOLIS MN 55407	A C MADSEN & W MADSEN	TRIPLEX	$415,100	80 ft
3640 18TH AVE S MINNEAPOLIS MN 55407	ENYINNAYA OKWULEHIE	RESIDENTIAL-TWO UNIT	$349,000	120 ft
3653 17TH AVE S MINNEAPOLIS MN 55407	J K & J N CUTLER	RESIDENTIAL	$312,300	134 ft
3657 17TH AVE S MINNEAPOLIS MN 55407	CHRISTOPHER CARL PENNOCK	RESIDENTIAL	$385,000	139 ft
3649 17TH AVE S MINNEAPOLIS MN 55407	BEAL INSURANCE TRUST	RESIDENTIAL-TWO UNIT	$387,500	140 ft
3700 18TH AVE S MINNEAPOLIS MN 55407	VINCENT LAPELUSA	RESIDENTIAL	$293,600	144 ft
3645 17TH AVE S MINNEAPOLIS MN 55407	DAVID B ADAM ETAL	RESIDENTIAL-TWO UNIT	$341,900	156 ft
3636 18TH AVE S MINNEAPOLIS MN 55407	JACOBUS A LOOTS	RESIDENTIAL	$289,000	160 ft

Property History

Current Tax Year

Year2026

Tax Due$1,969