3316 48TH AVE S MINNEAPOLIS MN 55406

PID: 0502823230106

Property Overview

Parcel ID0502823230106

Lot Size5,000 sq ft (0.115 ac)

Lot Dimensions (est.)125 ft wide × 40 ft deep

Year Built1954

Property ClassRESIDENTIAL

OwnerSARAH BRADY SHAW

Assessed Value$416,000

Land Value$224,000

Building Value$192,000

Annual Tax$6,312

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

7 permits on record since 2017 · $44K total declared value · Most recent: Nov 2024 (existres)

ExistresNov 2024Closed

Hero Home Services LLC

ExistresNov 2024Closed

Hero Home Services LLC

ResJul 2019Closed

BONFES PLUMBING HEATING AND AIR SERVICE INC

MiscJun 2019Closed

$6K

PELLA NORTHLAND

AdditionJul 2018Closed

$22K

Minneapolis Garage Builders, 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 depth85 ft

Area~2,549 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 2,549 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
3312 48TH AVE S MINNEAPOLIS MN 55406	MARK NELSON TRUST	RESIDENTIAL	$680,200	40 ft
3320 48TH AVE S MINNEAPOLIS MN 55406	R KRUPSKE & J MILLS	RESIDENTIAL	$502,700	40 ft
3308 48TH AVE S MINNEAPOLIS MN 55406	JULIE ANN PAPULAS MALIA	RESIDENTIAL-TWO UNIT	$454,100	80 ft
3324 48TH AVE S MINNEAPOLIS MN 55406	BETH A THOMPSON	RESIDENTIAL	$406,900	80 ft
3304 48TH AVE S MINNEAPOLIS MN 55406	GARY M & SUSAN D OSGOOD	RESIDENTIAL	$365,100	120 ft
3317 47TH AVE S MINNEAPOLIS MN 55406	D J MCCONNELL & B R BOLAND	RESIDENTIAL	$432,200	137 ft
3328 48TH AVE S MINNEAPOLIS MN 55406	JERED NYQUIST/SHAWN HAGHIGHI	RESIDENTIAL	$615,700	140 ft
3313 47TH AVE S MINNEAPOLIS MN 55406	M P FASTNER & MEGAN R BABB	RESIDENTIAL	$492,600	142 ft
3321 47TH AVE S MINNEAPOLIS MN 55406	CAROLIN G FAYTLE	RESIDENTIAL	$481,200	143 ft
3309 47TH AVE S MINNEAPOLIS MN 55406	M THOMSON & E LIM	RESIDENTIAL	$415,400	158 ft

Property History

Most Recent Sale

Date198804

Price$84,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$6,312