3245 48TH AVE S MINNEAPOLIS MN 55406

PID: 0502823230129

Property Overview

Parcel ID0502823230129

Lot Size7,813 sq ft (0.179 ac)

Lot Dimensions (est.)124 ft wide × 63 ft deep

Year Built1926

Property ClassRESIDENTIAL

OwnerS & S TRUAX

Assessed Value$531,700

Land Value$269,000

Building Value$262,700

Annual Tax$3,587

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

3 permits on record since 2020 · Most recent: Jun 2023 (res)

ResJun 2023Closed

CenterPoint Energy Resource Corp

ResApr 2020Closed

Warners Stellian Co Inc

ResFeb 2020Closed

Urban Pine Plumbing and Mechanical 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 width53 ft

Buildable depth84 ft

Area~4,450 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 4,450 sqft buildable area.

Est. units

Yield on cost

3.6%

Spread

-1.9%

Loading map…

Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3249 48TH AVE S MINNEAPOLIS MN 55406	C A CARLSON & M B MALOTKY	LOW INCOME RENTAL	$425,600	50 ft
3237 48TH AVE S MINNEAPOLIS MN 55406	M L OSTLUND & D L BATTLES	RESIDENTIAL	$486,100	66 ft
3253 48TH AVE S MINNEAPOLIS MN 55406	G H H JOHNSON & N G JOHNSON	RESIDENTIAL	$437,100	88 ft
3233 48TH AVE S MINNEAPOLIS MN 55406	SARAH ENGELHARDT	RESIDENTIAL-TWO UNIT	$422,700	120 ft
3229 48TH AVE S MINNEAPOLIS MN 55406	DONNA MARIE J ANDERSON	RESIDENTIAL	$387,500	160 ft
3244 48TH AVE S MINNEAPOLIS MN 55406	P L HARPER/M E BOGUE-HARPER	RESIDENTIAL	$540,000	184 ft
3248 48TH AVE S MINNEAPOLIS MN 55406	T SAGEDAHL & H LUDDEN	RESIDENTIAL	$560,400	188 ft
3240 48TH AVE S MINNEAPOLIS MN 55406	LEONARD HARVEY THORLEIFSON	RESIDENTIAL	$493,900	189 ft
3240 LENA SMITH BLVD MINNEAPOLIS MN 55406	J E BLACKFORD & H I BREDESON	RESIDENTIAL-TWO UNIT	$638,700	189 ft
3236 LENA SMITH BLVD MINNEAPOLIS MN 55406	KATARINA WRZOS/BRYAN JEPSON	RESIDENTIAL	$699,000	195 ft

Property History

Current Tax Year

Year2026

Tax Due$3,587