3824 48TH AVE S MINNEAPOLIS MN 55406

PID: 0802823220044

Property Overview

Parcel ID0802823220044

Lot Size5,261 sq ft (0.121 ac)

Lot Dimensions (est.)124 ft wide × 43 ft deep

Year Built1940

Property ClassRESIDENTIAL

OwnerLUCAS S RIEDI ET AL

Assessed Value$508,900

Land Value$228,000

Building Value$280,900

Annual Tax$7,896

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

2 permits on record since 2020 · $15K total declared value · Most recent: Apr 2023 (misc)

MiscApr 2023Closed

$15K

GATES GENERAL CONTRACTORS INC

ExistresAug 2020Closed

BONFES PLUMBING HEATING AND AIR SERVICE INC

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

Neighborhood Profile

Howe · 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

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width111 ft

Buildable depth3 ft

Area~2,472 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 2,472 sqft buildable area.

Est. units

Yield on cost

3.4%

Spread

-2.1%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3820 48TH AVE S MINNEAPOLIS MN 55406	IAN OLSON & DANIELLE SAILER	RESIDENTIAL	$579,700	43 ft
3816 48TH AVE S MINNEAPOLIS MN 55406	MARTIN A SPELTZ	RESIDENTIAL	$461,800	85 ft
3812 48TH AVE S MINNEAPOLIS MN 55406	LARRY J LUNDBERG	RESIDENTIAL	$272,000	127 ft
3825 47TH AVE S MINNEAPOLIS MN 55406	ROBERT T PAGE	RESIDENTIAL	$431,500	137 ft
3821 47TH AVE S MINNEAPOLIS MN 55406	CRAIG A HAFFERMAN ET AL	RESIDENTIAL	$489,900	144 ft
4800 DOWLING ST MINNEAPOLIS MN 55406	LOREN WILLIAMS	RESIDENTIAL	$509,600	150 ft
3817 47TH AVE S MINNEAPOLIS MN 55406	JAMES M HAGEN ET AL	RESIDENTIAL	$771,000	162 ft
3808 48TH AVE S MINNEAPOLIS MN 55406	KIM O THI TONG & KIM N TONG	RESIDENTIAL	$367,000	170 ft
3815 47TH AVE S MINNEAPOLIS MN 55406	GREEN HOME LLC	VACANT LAND-RESIDENTIAL	$228,000	188 ft
4804 DOWLING ST MINNEAPOLIS MN 55406	ANN T LAUGHLIN	RESIDENTIAL	$453,200	190 ft

Property History

Most Recent Sale

Date200809

Price$290,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$7,896