3847 THOMAS AVE N MINNEAPOLIS MN 55412

PID: 0502924420058

Property Overview

Parcel ID0502924420058

Lot Size6,264 sq ft (0.144 ac)

Lot Dimensions (est.)127 ft wide × 50 ft deep

Year Built1939

Property ClassAPARTMENT

OwnerCHRISTIAN W BIORN

Assessed Value$353,000

Land Value$12,400

Building Value$75,900

Annual Tax$5,844

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

1 permit on record since 2022 · $10K total declared value · Most recent: Oct 2022 (commfdrr)

CommfdrrOct 2022Closed

$10K

Aaztec Heating and Air Conditioning Inc

Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.

Neighborhood Profile

Victory · Minneapolis

Median reported rent1,398/mo

Renter-occupied17.2%

Median home value$256K

Vacancy rate3.9%

ACS rents reflect current tenant leases and may differ from new market rents.

Source: 2022 ACS 5-Year Estimates · Census Tract 3

Market Snapshot

Zip code 55412

Median sale price$225K-2.2% YoY

Median price / sqft$172/sqft

Median days to close31 days

Active listings67

Source: Redfin Data Center (Invalid Date) · Zip 55412

Zoning

UN1Urban Neighborhood 1

Urban Neighborhood 1 — low-density residential

Typical Uses

·Single-family homes
·Duplexes
·Accessory dwelling units

Max Height35 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width39 ft

Buildable depth88 ft

Area~781 sqft

Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.

Development Feasibility

Marginal

Back-of-envelope estimate based on sfr / adu benchmarks for 781 sqft buildable area.

Est. units

Yield on cost

5.1%

Spread

-0.4%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3851 THOMAS AVE N MINNEAPOLIS MN 55412	MICHAEL LABRIOLA	TRIPLEX	$391,800	47 ft
3841 THOMAS AVE N MINNEAPOLIS MN 55412	SAMARANI REALTY LLC	APARTMENT	$536,000	59 ft
3855 THOMAS AVE N MINNEAPOLIS MN 55412	JOSHUA NELSON & ELLEN NELSON	RESIDENTIAL	$512,000	91 ft
3835 THOMAS AVE N MINNEAPOLIS MN 55412	DAVID HUTCHINSON	APARTMENT	$346,000	118 ft
3846 UPTON AVE N MINNEAPOLIS MN 55412	LUIS CORDERO-CHAVARRIA ET AL	RESIDENTIAL	$257,800	139 ft
3842 UPTON AVE N MINNEAPOLIS MN 55412	DANIELLE TERRAE BROWN	RESIDENTIAL	$360,500	143 ft
3850 UPTON AVE N MINNEAPOLIS MN 55412	MARCUS NEIL TOLBERT	RESIDENTIAL	$294,400	148 ft
3838 UPTON AVE N MINNEAPOLIS MN 55412	R S LARSON & A U DAVIS	RESIDENTIAL	$232,400	159 ft
3831 THOMAS AVE N MINNEAPOLIS MN 55412	ATM PROPERTIES LLC	LOW INCOME RENTAL	$317,000	164 ft
3854 UPTON AVE N MINNEAPOLIS MN 55412	VERONICA E TUCKER	RESIDENTIAL	$306,800	168 ft

Property History

Current Tax Year

Year2026

Tax Due$5,844