3028 JAMES AVE S MINNEAPOLIS MN 55408

PID: 0402824220037

Property Overview

Parcel ID0402824220037

Lot Size5,905 sq ft (0.136 ac)

Lot Dimensions (est.)129 ft wide × 46 ft deep

Year Built1929

Property ClassAPARTMENT

OwnerHERO HOMES MN PARTNERS LLC

Assessed Value$1,160,000

Land Value$369,600

Building Value$790,400

Annual Tax$21,944

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

2 permits on record since 2017 · $7K total declared value · Most recent: May 2025 (remodel)

RemodelMay 2025Inspection

$6K

Boundary Waters Construction

Commercial Multi-FamilySep 2017Closed

$1K

Farr Plumbing and Heating LLC

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

Neighborhood Profile

East Bde Maka Ska · Minneapolis

Median reported rent1,601/mo

Renter-occupied66.9%

Median home value$643K

Vacancy rate7.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1080

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 depth88 ft

Area~3,181 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 3,181 sqft buildable area.

Est. units

Yield on cost

3.5%

Spread

-2.0%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3024 JAMES AVE S MINNEAPOLIS MN 55408	A EGGUM & K S GOMEZ	RESIDENTIAL	$488,700	46 ft
3032 JAMES AVE S MINNEAPOLIS MN 55408	SAEID R MESHKAT	RESIDENTIAL	$410,500	46 ft
3020 JAMES AVE S MINNEAPOLIS MN 55408	DANGKHOA LAM/MINH NGOC LAM	TRIPLEX	$644,500	92 ft
3036 JAMES AVE S MINNEAPOLIS MN 55408	JAMES PHAMILE LLC	RESIDENTIAL-TWO UNIT	$637,000	92 ft
3040 JAMES AVE S MINNEAPOLIS MN 55408	JASON G TRIEMERT & YAN JIA	APARTMENT	$786,000	138 ft
3016 JAMES AVE S MINNEAPOLIS MN 55408	SARAH L LATTA	CONDOMINIUM	$139,000	138 ft
3016 JAMES AVE S MINNEAPOLIS MN 55408	LYNN F ANNIS	CONDOMINIUM	$244,000	138 ft
3016 JAMES AVE S MINNEAPOLIS MN 55408	ERIC COHEN	CONDOMINIUM	$274,000	138 ft
3016 JAMES AVE S MINNEAPOLIS MN 55408	JAMES WHITE	CONDOMINIUM	$274,000	138 ft
3016 JAMES AVE S MINNEAPOLIS MN 55408	MARCUS O FILIPOVICH	CONDOMINIUM	$276,000	138 ft

Property History

Most Recent Sale

Date202404

Price$849,500

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$21,944