3023 47TH AVE S MINNEAPOLIS MN 55406

PID: 0502823220052

Property Overview

Parcel ID0502823220052

Lot Size4,960 sq ft (0.114 ac)

Lot Dimensions (est.)124 ft wide × 40 ft deep

Year Built1918

Property ClassRESIDENTIAL

OwnerL F WOODS & M WOODS

Assessed Value$321,500

Land Value$142,000

Building Value$179,500

Annual Tax$4,304

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 ↗

Potential programs

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

1 permit on record since 2023 · $25K total declared value · Most recent: Nov 2023 (misc)

MiscNov 2023Closed

$25K

ENTIRE EXTERIORS LLC

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 width30 ft

Buildable depth84 ft

Area~2,519 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 2,519 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
3027 47TH AVE S MINNEAPOLIS MN 55406	J U GUERRA & K L R GUERRA	RESIDENTIAL	$384,600	40 ft
3019 47TH AVE S MINNEAPOLIS MN 55406	JUSTIN ENERSON/ERIN ANDERSON	RESIDENTIAL	$370,300	50 ft
3031 47TH AVE S MINNEAPOLIS MN 55406	J P AND P A KOSMOSKI JT TR	RESIDENTIAL	$589,000	85 ft
3011 47TH AVE S MINNEAPOLIS MN 55406	BARBARA J SHIN	RESIDENTIAL	$390,000	110 ft
3037 47TH AVE S MINNEAPOLIS MN 55406	I E HOUGARD/J A HOUGARD ETAL	RESIDENTIAL-TWO UNIT	$474,800	135 ft
3026 48TH AVE S MINNEAPOLIS MN 55406	K E MATCHETT & J LIPMAN	RESIDENTIAL-TWO UNIT	$635,800	139 ft
3020 48TH AVE S MINNEAPOLIS MN 55406	MARK F CARLSON	RESIDENTIAL-TWO UNIT	$636,700	141 ft
3030 48TH AVE S MINNEAPOLIS MN 55406	JOHN M FOX	RESIDENTIAL-TWO UNIT	$385,300	154 ft
3014 48TH AVE S MINNEAPOLIS MN 55406	ANDREW VANVICK & LYNN PHAM	RESIDENTIAL	$573,700	159 ft
3034 48TH AVE S MINNEAPOLIS MN 55406	GREGORY S WALLIN	RESIDENTIAL-TWO UNIT	$385,300	175 ft

Property History

Most Recent Sale

Date198408

Price$68,400

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$4,304