3320 48TH AVE S MINNEAPOLIS MN 55406

PID: 0502823230107

Property Overview

Parcel ID0502823230107

Lot Size5,000 sq ft (0.115 ac)

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

Year Built1941

Property ClassRESIDENTIAL

OwnerR KRUPSKE & J MILLS

Assessed Value$502,700

Land Value$224,000

Building Value$278,700

Annual Tax$7,768

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

7 permits on record since 2019 · $29K total declared value · Most recent: Jun 2025 (misc)

MiscJun 2025Expired

$17K

SCHERER BROTHERS LUMBER CO

ExistresMay 2025Closed

ST PAUL PLUMBING AND HEATING CO INC

ResJun 2023Closed

CenterPoint Energy Resource Corp

ExistresJun 2020Closed

BOYS MECHANICAL INC

ExistresSep 2019Closed

PRACTICAL SYSTEMS AND DUCTWORK HEATING AND COOLING

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
3316 48TH AVE S MINNEAPOLIS MN 55406	SARAH BRADY SHAW	RESIDENTIAL	$416,000	40 ft
3324 48TH AVE S MINNEAPOLIS MN 55406	BETH A THOMPSON	RESIDENTIAL	$406,900	40 ft
3312 48TH AVE S MINNEAPOLIS MN 55406	MARK NELSON TRUST	RESIDENTIAL	$680,200	80 ft
3328 48TH AVE S MINNEAPOLIS MN 55406	JERED NYQUIST/SHAWN HAGHIGHI	RESIDENTIAL	$615,700	100 ft
3308 48TH AVE S MINNEAPOLIS MN 55406	JULIE ANN PAPULAS MALIA	RESIDENTIAL-TWO UNIT	$454,100	120 ft
3321 47TH AVE S MINNEAPOLIS MN 55406	CAROLIN G FAYTLE	RESIDENTIAL	$481,200	137 ft
3317 47TH AVE S MINNEAPOLIS MN 55406	D J MCCONNELL & B R BOLAND	RESIDENTIAL	$432,200	142 ft
3325 47TH AVE S MINNEAPOLIS MN 55406	J A PAULING & E PAULING	RESIDENTIAL	$413,700	143 ft
3313 47TH AVE S MINNEAPOLIS MN 55406	M P FASTNER & MEGAN R BABB	RESIDENTIAL	$492,600	158 ft
3329 47TH AVE S MINNEAPOLIS MN 55406	J R JOHNSON & J F MCCLUSKEY	RESIDENTIAL	$392,400	159 ft

Property History

Most Recent Sale

Date202307

Price$590,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$7,768