3012 HARRIET AVE MINNEAPOLIS MN 55408

PID: 0302824220050

Property Overview

Parcel ID0302824220050

Lot Size2,959 sq ft (0.068 ac)

Lot Dimensions (est.)64 ft wide × 46 ft deep

Year Built1887

Property ClassRESIDENTIAL-TWO UNIT

Owner505 W LAKE LLC

Assessed Value$338,300

Land Value$96,000

Building Value$242,300

Annual Tax$6,400

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

Lyndale · Minneapolis

Median reported rent1,022/mo

Renter-occupied73.1%

Median home value$318K

Vacancy rate5.5%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 82

Market Snapshot

Zip code 55408

Median sale price$390K+6.8% YoY

Median price / sqft$243/sqft

Median days to close62 days

Active listings73

Source: Redfin Data Center (Invalid Date) · Zip 55408

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 width36 ft

Buildable depth24 ft

Area~873 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 sfr / adu benchmarks for 873 sqft buildable area.

Est. units

Yield on cost

3.3%

Spread

-2.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3016 HARRIET AVE MINNEAPOLIS MN 55408	IONE INDUSTRIES LLC	RESIDENTIAL-TWO UNIT	$365,000	56 ft
3012 HARRIET AVE MINNEAPOLIS MN 55408	505 W LAKE LLC	COMMERCIAL-PREFERRED	$126,000	64 ft
501 LAKE ST W MINNEAPOLIS MN 55408	505 W LAKE LLC	COMMERCIAL-PREFERRED	$355,800	92 ft
3020 HARRIET AVE MINNEAPOLIS MN 55408	ELIZABETH LIPTON	RESIDENTIAL-TWO UNIT	$388,300	98 ft
505 LAKE ST W MINNEAPOLIS MN 55408	505 W LAKE LLC	COMMERCIAL-PREFERRED	$840,000	112 ft
3024 HARRIET AVE MINNEAPOLIS MN 55408	T T LOWERY & A B CURD	RESIDENTIAL-TWO UNIT	$381,800	142 ft
3015 HARRIET AVE MINNEAPOLIS MN 55408	NORTHBAY HOLDINGS LLC	LAND-COMMERCIAL	$118,300	156 ft
3013 HARRIET AVE MINNEAPOLIS MN 55408	NORTHBAY HOLDINGS LLC	LAND-COMMERCIAL	$118,300	156 ft
3017 HARRIET AVE MINNEAPOLIS MN 55408	PATRICK WILLIAMS	RESIDENTIAL	$417,400	162 ft
429 LAKE ST W MINNEAPOLIS MN 55408	NORTHBAY HOLDINGS LLC	COMMERCIAL-PREFERRED	$475,200	162 ft

Property History

Current Tax Year

Year2026

Tax Due$6,400