3201 48TH AVE S MINNEAPOLIS MN 55406

PID: 0502823230018

Property Overview

Parcel ID0502823230018

Lot Size4,962 sq ft (0.114 ac)

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

Year Built1925

Property ClassRESIDENTIAL

OwnerCAROL BECKER/VICCI KORMAN TR

Assessed Value$406,500

Land Value$222,000

Building Value$184,500

Annual Tax$6,152

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

4 permits on record since 2020 · $12K total declared value · Most recent: Dec 2023 (existres)

ExistresDec 2023Closed

Standard Heating and Air Conditioning Inc

MiscOct 2023Closed

$10K

EXCEL ROOFING

ResJun 2023Closed

CenterPoint Energy Resource Corp

MiscDec 2020Closed

$2K

MON-RAY 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

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width111 ft

Buildable depth0 ft

Area~2,269 sqft

Lot dimensions are insufficient for the standard setbacks shown.

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 2,269 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3205 48TH AVE S MINNEAPOLIS MN 55406	K & T ANDERSON	RESIDENTIAL	$367,800	40 ft
3209 48TH AVE S MINNEAPOLIS MN 55406	PAUL E JENSEN	RESIDENTIAL	$483,300	80 ft
3215 48TH AVE S MINNEAPOLIS MN 55406	CHARLES L BOYD JR REVOC TR	RESIDENTIAL	$472,800	120 ft
3200 LENA SMITH BLVD MINNEAPOLIS MN 55406	ERIK & KIERSTEN ROMSAAS	RESIDENTIAL	$677,000	151 ft
3217 48TH AVE S MINNEAPOLIS MN 55406	KEVEN K ROUNDS	RESIDENTIAL	$298,000	160 ft
3204 LENA SMITH BLVD MINNEAPOLIS MN 55406	STEPHEN MENYA & LEAH MENYA	RESIDENTIAL	$553,800	163 ft
3208 LENA SMITH BLVD MINNEAPOLIS MN 55406	ROBERT E QUIRK ETAL	RESIDENTIAL	$593,000	184 ft
3200 48TH AVE S MINNEAPOLIS MN 55406	VICTOR YU	RESIDENTIAL	$385,900	184 ft
3204 48TH AVE S MINNEAPOLIS MN 55406	JAYSEN DURDA & JAMES DURDA	RESIDENTIAL	$383,700	188 ft
3221 48TH AVE S MINNEAPOLIS MN 55406	ASTERIX MANAGEMENT LLC	RESIDENTIAL-TWO UNIT	$449,700	200 ft

Property History

Most Recent Sale

Date201108

Price$100

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$6,152