3229 47TH AVE S MINNEAPOLIS MN 55406

PID: 0502823230033

Property Overview

Parcel ID0502823230033

Lot Size4,962 sq ft (0.114 ac)

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

Year Built1940

Property ClassRESIDENTIAL

OwnerW C SEIFERT & S J PHENIX

Assessed Value$426,600

Land Value$222,000

Building Value$204,600

Annual Tax$6,489

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

3 permits on record since 2021 · $37K total declared value · Most recent: Jun 2025 (misc)

MiscJun 2025Expired

$26K

RENEWAL BY ANDERSEN CORP

ExistresJul 2022Closed

SEDGWICK HEATING & AIR CONDITIONING

MiscJul 2021Closed

$11K

DS BAHR 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
3233 47TH AVE S MINNEAPOLIS MN 55406	B S TURNER & K A MATHEWS	RESIDENTIAL	$497,800	40 ft
3225 47TH AVE S MINNEAPOLIS MN 55406	ELIZABETH CLEVELAND	RESIDENTIAL	$395,400	40 ft
3235 47TH AVE S MINNEAPOLIS MN 55406	J I GUSDAL & S M HAGANDER	RESIDENTIAL-TWO UNIT	$414,700	79 ft
3221 47TH AVE S MINNEAPOLIS MN 55406	MELONSEED INVESTMENTS LLC	RESIDENTIAL	$347,000	80 ft
3239 47TH AVE S MINNEAPOLIS MN 55406	J E BREDESON & H BREDESON	RESIDENTIAL-TWO UNIT	$498,000	115 ft
3217 47TH AVE S MINNEAPOLIS MN 55406	KEVIN R HILLIARD	RESIDENTIAL-TWO UNIT	$493,200	120 ft
3228 48TH AVE S MINNEAPOLIS MN 55406	R M ROTHSTEIN/C H ROTHSTEIN	RESIDENTIAL	$386,100	138 ft
3224 48TH AVE S MINNEAPOLIS MN 55406	KEVIN R HILLIARD	RESIDENTIAL	$590,400	143 ft
3232 48TH AVE S MINNEAPOLIS MN 55406	GREGORY NEARY & TRACEY NEARY	RESIDENTIAL	$450,200	143 ft
3245 47TH AVE S MINNEAPOLIS MN 55406	P STREBE/J D STREBE	RESIDENTIAL	$474,600	155 ft

Property History

Most Recent Sale

Date199404

Price$95,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$6,489