3221 RUSSELL AVE N MINNEAPOLIS MN 55412

PID: 0802924140010

Property Overview

Parcel ID0802924140010

Lot Size5,106 sq ft (0.117 ac)

Lot Dimensions (est.)127 ft wide × 40 ft deep

Year Built1999

Property ClassRESIDENTIAL

OwnerTE PROPERTIES 1 LLC

Assessed Value$246,300

Land Value$31,000

Building Value$215,300

Annual Tax$3,778

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Potential programs

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

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

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Minneapolis

Median reported rent2,095/mo

Renter-occupied19.2%

Median home value$227K

Vacancy rate4.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1007

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

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 width30 ft

Buildable depth88 ft

Area~2,629 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 2,629 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3225 RUSSELL AVE N MINNEAPOLIS MN 55412	MICHAEL ANDERSON	RESIDENTIAL	$137,000	40 ft
3217 RUSSELL AVE N MINNEAPOLIS MN 55412	JOHNNY HYATT	RESIDENTIAL	$190,400	40 ft
3229 RUSSELL AVE N MINNEAPOLIS MN 55412	DANIEL HOFFSTROM	RESIDENTIAL	$168,000	80 ft
3213 RUSSELL AVE N MINNEAPOLIS MN 55412	FELICIA BENNETT	RESIDENTIAL	$256,300	80 ft
3233 RUSSELL AVE N MINNEAPOLIS MN 55412	E G PARRA & M D BAUTCH	RESIDENTIAL	$292,600	120 ft
3220 SHERIDAN AVE N MINNEAPOLIS MN 55412	CAG MINNESOTA FUND II LLC	RESIDENTIAL	$167,000	141 ft
3216 SHERIDAN AVE N MINNEAPOLIS MN 55412	JENNIFER HINCK	RESIDENTIAL	$198,000	147 ft
3224 SHERIDAN AVE N MINNEAPOLIS MN 55412	ALEXANDER ROSS & JULIE ROSS	RESIDENTIAL	$194,900	147 ft
2406 LOWRY AVE N MINNEAPOLIS MN 55411	DEQO HASSAN	RESIDENTIAL	$187,000	154 ft
3237 RUSSELL AVE N MINNEAPOLIS MN 55412	KATELYN MOLDAN	RESIDENTIAL	$152,000	160 ft

Property History

Most Recent Sale

Date202101

Price$215,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$3,778