3322 PENN AVE N MINNEAPOLIS MN 55412

PID: 0902924230220

Property Overview

Parcel ID0902924230220

Lot Size4,985 sq ft (0.114 ac)

Lot Dimensions (est.)127 ft wide × 39 ft deep

Year Built1929

Property ClassAPARTMENT

OwnerFRANCIS SYLVESTER POOK

Assessed Value$332,000

Land Value$34,700

Building Value$297,300

Annual Tax$8,340

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

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Minneapolis

Median reported rent1,590/mo

Renter-occupied27.3%

Median home value$193K

Vacancy rate7.6%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1008

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

RM1Residence Goods and Services

Residential Mixed-Use 1 — low-density mixed residential

Typical Uses

·Apartments
·Townhomes
·Neighborhood-scale retail on ground floor

Max Height45 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width29 ft

Buildable depth88 ft

Area~2,543 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 2,543 sqft buildable area.

Est. units

Yield on cost

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3318 PENN AVE N MINNEAPOLIS MN 55412	ROBERT DEHOFF & ANN DEHOFF	LOW INCOME RENTAL	$337,000	39 ft
3326 PENN AVE N MINNEAPOLIS MN 55412	LOGAN MEYER	RESIDENTIAL-TWO UNIT	$292,900	39 ft
3328 PENN AVE N MINNEAPOLIS MN 55412	JASON W WALLACE	RESIDENTIAL-TWO UNIT	$226,200	78 ft
3310 PENN AVE N MINNEAPOLIS MN 55412	PPL AFFIRMATION HOUSE LLC	LOW INCOME RENTAL	$879,000	98 ft
3334 PENN AVE N MINNEAPOLIS MN 55412	EMMANUEL DONABY	RESIDENTIAL-TWO UNIT	$263,700	118 ft
3323 OLIVER AVE N MINNEAPOLIS MN 55412	ANTOINETTE M SZYMANSKI	RESIDENTIAL	$186,500	138 ft
3327 OLIVER AVE N MINNEAPOLIS MN 55412	H & P M JEFFERSON	RESIDENTIAL	$196,800	143 ft
3319 OLIVER AVE N MINNEAPOLIS MN 55412	LAURO LLAUCA	RESIDENTIAL	$161,400	144 ft
3338 PENN AVE N MINNEAPOLIS MN 55412	E BELL & B JOHNSON	RESIDENTIAL	$182,300	157 ft
3331 OLIVER AVE N MINNEAPOLIS MN 55412	S GORECKI & S J GORECKI	RESIDENTIAL	$176,300	158 ft

Property History

Most Recent Sale

Date202603

Price$300,000

TypeEXCLUDED FROM RATIO STUDIES

Current Tax Year

Year2026

Tax Due$8,340