3841 THOMAS AVE N MINNEAPOLIS MN 55412

PID: 0502924420059

Property Overview

Parcel ID0502924420059

Lot Size8,524 sq ft (0.196 ac)

Lot Dimensions (est.)127 ft wide × 67 ft deep

Year Built1963

Property ClassAPARTMENT

OwnerSAMARANI REALTY LLC

Assessed Value$536,000

Land Value$68,100

Building Value$467,900

Annual Tax$10,084

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

3 permits on record since 2017 · $25K total declared value · Most recent: Jan 2020 (commercial multi-family)

Commercial Multi-FamilyJan 2020Closed

$8K

STAFFORD HOME SERVICE

RoofwindNov 2018Closed

$17K

BARNHOUSE EXTERIORS LLC

RemodelMar 2017Closed

$500

Samarani Realty LLC

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$247K+2.1% YoY

Median price / sqft$181/sqft

Median days to close30 days

Active listings80

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 width58 ft

Buildable depth85 ft

Area~4,955 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 sfr / adu benchmarks for 4,955 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
3847 THOMAS AVE N MINNEAPOLIS MN 55412	CHRISTIAN W BIORN	APARTMENT	$353,000	59 ft
3835 THOMAS AVE N MINNEAPOLIS MN 55412	DAVID HUTCHINSON	APARTMENT	$346,000	59 ft
3831 THOMAS AVE N MINNEAPOLIS MN 55412	ATM PROPERTIES LLC	LOW INCOME RENTAL	$317,000	105 ft
3851 THOMAS AVE N MINNEAPOLIS MN 55412	MICHAEL LABRIOLA	TRIPLEX	$391,800	106 ft
3838 UPTON AVE N MINNEAPOLIS MN 55412	R S LARSON & A U DAVIS	RESIDENTIAL	$232,400	141 ft
3842 UPTON AVE N MINNEAPOLIS MN 55412	DANIELLE TERRAE BROWN	RESIDENTIAL	$360,500	142 ft
3827 THOMAS AVE N MINNEAPOLIS MN 55412	LYLE D NIX JR	RESIDENTIAL	$190,500	148 ft
3855 THOMAS AVE N MINNEAPOLIS MN 55412	JOSHUA NELSON & ELLEN NELSON	RESIDENTIAL	$512,000	150 ft
3834 UPTON AVE N MINNEAPOLIS MN 55412	KRISTY MARTIN	RESIDENTIAL	$224,200	152 ft
3846 UPTON AVE N MINNEAPOLIS MN 55412	LUIS CORDERO-CHAVARRIA ET AL	RESIDENTIAL	$257,800	155 ft

Property History

Most Recent Sale

Date201005

Price$200,812

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$10,084