3028 47TH AVE S MINNEAPOLIS MN 55406

PID: 0502823220028

Property Overview

Parcel ID0502823220028

Lot Size7,440 sq ft (0.171 ac)

Lot Dimensions (est.)124 ft wide × 60 ft deep

Year Built1925

Property ClassTRIPLEX

OwnerOLGA TOLLE-RODRIGUES

Assessed Value$553,200

Land Value$55,800

Building Value$126,800

Annual Tax$4,903

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 2021 · Most recent: Apr 2025 (res)

ResApr 2025Closed

4Front Energy Solutions Inc

ResMar 2021Closed

Urban Pine Plumbing and Mechanical Inc

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

Neighborhood Profile

Cooper · Minneapolis

Median reported rent1,309/mo

Renter-occupied16.5%

Median home value$339K

Vacancy rate5.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1076

Market Snapshot

Zip code 55406

Median sale price$340K+3.0% YoY

Median price / sqft$248/sqft

Median days to close21 days

Active listings39

Source: Redfin Data Center (Invalid Date) · Zip 55406

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 width50 ft

Buildable depth84 ft

Area~4,198 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 4,198 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
3030 47TH AVE S MINNEAPOLIS MN 55406	MATHILDA O WOLSKE	RESIDENTIAL	$355,000	50 ft
3022 47TH AVE S MINNEAPOLIS MN 55406	JEAN MENDENHALL	RESIDENTIAL	$389,400	64 ft
3034 47TH AVE S MINNEAPOLIS MN 55406	SUSAN PATTERSON	RESIDENTIAL	$385,900	92 ft
3038 47TH AVE S MINNEAPOLIS MN 55406	L P & D J LITECKY TRSTS	RESIDENTIAL	$357,900	133 ft
3020 47TH AVE S MINNEAPOLIS MN 55406	J M CARRILLO & M M WINKER	RESIDENTIAL	$463,000	134 ft
3031 46TH AVE S MINNEAPOLIS MN 55406	JAMES F & JUNE M STUHR	RESIDENTIAL-TWO UNIT	$451,700	138 ft
3027 46TH AVE S MINNEAPOLIS MN 55406	A G HERRICK & C J HERRICK	RESIDENTIAL	$427,400	141 ft
3035 46TH AVE S MINNEAPOLIS MN 55406	J A WOLFF & C F HOLLENDER	RESIDENTIAL	$317,400	146 ft
3023 46TH AVE S MINNEAPOLIS MN 55406	M J MEDVEC & P K MEDVEC	RESIDENTIAL	$378,700	155 ft
3039 46TH AVE S MINNEAPOLIS MN 55406	CHARLES D & SARAH R HOWLAND	RESIDENTIAL	$406,500	165 ft

Property History

Most Recent Sale

Date202111

Price$591,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,903