3224 48TH AVE S MINNEAPOLIS MN 55406

PID: 0502823230025

Property Overview

Parcel ID0502823230025

Lot Size4,962 sq ft (0.114 ac)

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

Year Built1928

Property ClassRESIDENTIAL

OwnerKEVIN R HILLIARD

Assessed Value$590,400

Land Value$222,000

Building Value$368,400

Annual Tax$11,443

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

8 permits on record since 2018 · $55K total declared value · Most recent: Jun 2023 (res)

ResJun 2023Closed

CenterPoint Energy Resource Corp

ResJun 2023Closed

CenterPoint Energy Resource Corp

ExistresMar 2022Closed

BOEHM HEATING

ResMay 2021Closed

Warners Stellian Co Inc

MiscSep 2018Closed

$8K

AMANA CONSTRUCTION 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 width30 ft

Buildable depth84 ft

Area~2,520 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 2,520 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
3220 48TH AVE S MINNEAPOLIS MN 55406	E HOLMQUIST & A HOLMQUIST	RESIDENTIAL	$470,600	40 ft
3228 48TH AVE S MINNEAPOLIS MN 55406	R M ROTHSTEIN/C H ROTHSTEIN	RESIDENTIAL	$386,100	40 ft
3216 48TH AVE S MINNEAPOLIS MN 55406	ELIZA TOCHER	RESIDENTIAL	$422,500	80 ft
3232 48TH AVE S MINNEAPOLIS MN 55406	GREGORY NEARY & TRACEY NEARY	RESIDENTIAL	$450,200	80 ft
3212 48TH AVE S MINNEAPOLIS MN 55406	C J MCDOUGALL/J N MCDOUGALL	RESIDENTIAL	$461,300	120 ft
3236 48TH AVE S MINNEAPOLIS MN 55406	A S O'CHEA & B M O'SHEA	RESIDENTIAL	$541,500	120 ft
3225 47TH AVE S MINNEAPOLIS MN 55406	ELIZABETH CLEVELAND	RESIDENTIAL	$395,400	138 ft
3229 47TH AVE S MINNEAPOLIS MN 55406	W C SEIFERT & S J PHENIX	RESIDENTIAL	$426,600	143 ft
3221 47TH AVE S MINNEAPOLIS MN 55406	MELONSEED INVESTMENTS LLC	RESIDENTIAL	$347,000	143 ft
3240 48TH AVE S MINNEAPOLIS MN 55406	LEONARD HARVEY THORLEIFSON	RESIDENTIAL	$493,900	155 ft

Property History

Most Recent Sale

Date200306

Price$441,500

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$11,443