3328 PORTLAND AVE MINNEAPOLIS MN 55407

PID: 0302824140206

Property Overview

Parcel ID0302824140206

Lot Size5,421 sq ft (0.124 ac)

Lot Dimensions (est.)120 ft wide × 45 ft deep

Year Built1906

Property ClassRESIDENTIAL

OwnerE A HELLER & C M SCHILLER

Assessed Value$250,000

Land Value$50,000

Building Value$200,000

Annual Tax$3,520

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Area of Concentrated PovertyHigh

In an ACP50 area — a Minneapolis priority designation that increases scoring for Great Streets gap financing, Affordable Housing Trust Fund, and other CPED programs.

Minneapolis — Affordable Housing Trust Fund ↗

Potential programs

Great Streets Gap FinancingMedium

Below-market loans for commercial real estate development and rehabilitation on eligible corridors; priority given to Green Zone and ACP50 locations.

Minneapolis Great Streets — Gap Financing ↗

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

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

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Central · 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$335K-6.9% YoY

Median price / sqft$215/sqft

Median days to close18 days

Active listings78

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 width35 ft

Buildable depth80 ft

Area~2,812 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 2,812 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
3324 PORTLAND AVE MINNEAPOLIS MN 55407	G PETRIE/A MORZENTI/A KOZMA	RESIDENTIAL	$380,700	45 ft
3332 PORTLAND AVE MINNEAPOLIS MN 55407	CALEB PARSONS & J SPIELMANN	RESIDENTIAL-TWO UNIT	$387,500	45 ft
3336 PORTLAND AVE MINNEAPOLIS MN 55407	TIMOTHY M THORNBURGH	RESIDENTIAL-TWO UNIT	$332,400	90 ft
3320 PORTLAND AVE MINNEAPOLIS MN 55407	K A & I BALL	RESIDENTIAL	$395,000	90 ft
3329 5TH AVE S MINNEAPOLIS MN 55408	FANNY B VAZQUES CRESPO	TRIPLEX	$308,600	131 ft
3340 PORTLAND AVE MINNEAPOLIS MN 55407	ADRIENNE HOPKINS/CRAIG BUCK	RESIDENTIAL	$338,000	136 ft
3316 PORTLAND AVE MINNEAPOLIS MN 55407	NICHOLAS BOCKEY	RESIDENTIAL-TWO UNIT	$369,500	136 ft
3335 5TH AVE S MINNEAPOLIS MN 55408	MARIBEL PRESTEGUIN ROJAS	RESIDENTIAL	$235,000	139 ft
3325 5TH AVE S MINNEAPOLIS MN 55408	SERGIO BENITEX MARTINEZ	RESIDENTIAL	$199,000	139 ft
3337 5TH AVE S MINNEAPOLIS MN 55408	ARACELI GARRIDO SAMPAYO	RESIDENTIAL-TWO UNIT	$286,200	159 ft

Property History

Current Tax Year

Year2026

Tax Due$3,520