4412 46TH AVE S MINNEAPOLIS MN 55406

PID: 0702823440240

Property Overview

Parcel ID0702823440240

Lot Size7,602 sq ft (0.175 ac)

Lot Dimensions (est.)126 ft wide × 60 ft deep

Year Built1927

Property ClassAPARTMENT

Owner4412 46TH AVE SOUTH LLC

Assessed Value$467,000

Land Value$121,700

Building Value$345,300

Annual Tax$8,835

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

11 permits on record since 2017 · Most recent: Apr 2025 (commercial minor)

Commercial MinorApr 2025Expired

Kelly Plumbing and Heating Inc

ResMay 2024Closed

CenterPoint Energy Resource Corp

ResMar 2024Closed

CenterPoint Energy Resource Corp

ResMar 2024Closed

CenterPoint Energy Resource Corp

ResFeb 2024Closed

CenterPoint Energy Resource Corp

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

Neighborhood Profile

Hiawatha · Minneapolis

Median reported rent1,554/mo

Renter-occupied38.8%

Median home value$306K

Vacancy rate5.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1105

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 width50 ft

Buildable depth87 ft

Area~4,333 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 4,333 sqft buildable area.

Est. units

Yield on cost

3.9%

Spread

-1.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
4416 46TH AVE S MINNEAPOLIS MN 55406	Q M BUNNELL & B R BUNNELL	RESIDENTIAL	$329,100	50 ft
4404 46TH AVE S MINNEAPOLIS MN 55406	LYNN BOECK	RESIDENTIAL	$307,000	60 ft
4420 46TH AVE S MINNEAPOLIS MN 55406	OLIVIA C YOSHIOKA-MAXWELL	RESIDENTIAL	$427,300	90 ft
4400 46TH AVE S MINNEAPOLIS MN 55406	TRITON PROPERTIES LLC	RESIDENTIAL	$382,000	111 ft
4424 46TH AVE S MINNEAPOLIS MN 55406	E A PETERSON & H DAVIS	RESIDENTIAL	$366,000	130 ft
4415 45TH AVE S MINNEAPOLIS MN 55406	J & R GEORGE	RESIDENTIAL	$354,500	141 ft
4409 45TH AVE S MINNEAPOLIS MN 55406	ANN DECKER BYRNE	RESIDENTIAL	$350,200	143 ft
4417 45TH AVE S MINNEAPOLIS MN 55406	DOANE-BLALOCK REV LIV TRUST	RESIDENTIAL	$375,000	150 ft
4405 45TH AVE S MINNEAPOLIS MN 55406	B R PAULSON & J R HARTWIG	RESIDENTIAL	$795,100	156 ft
4421 45TH AVE S MINNEAPOLIS MN 55406	K HAYES & JOHN M MATSUNAGA	RESIDENTIAL	$366,400	168 ft

Property History

Most Recent Sale

Date200706

Price$430,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$8,835