2905 3RD ST N MINNEAPOLIS MN 55411

PID: 1002924320135

Property Overview

Parcel ID1002924320135

Lot Size6,612 sq ft (0.152 ac)

Lot Dimensions (est.)158 ft wide × 42 ft deep

Year Built1956

Property ClassRESIDENTIAL

OwnerNID LEE & CHRISTINA P HERGN

Assessed Value$164,600

Land Value$14,000

Building Value$150,600

Annual Tax$2,103

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Qualified Census Tract (QCT)High

Within a HUD-designated Qualified Census Tract — LIHTC projects here receive a 30% basis boost, significantly increasing the tax credit allocation for affordable housing development.

HUD — LIHTC Qualified Census Tracts ↗

Potential programs

LIHTC 30% Basis BoostMedium

Affordable housing developments in QCTs receive a 30% increase in eligible basis for Low Income Housing Tax Credits — materially improving project feasibility. Allocated through MHFA.

HUD — LIHTC Qualified Census Tracts ↗

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

Permit History

3 permits on record since 2018 · Most recent: Jun 2019 (existres)

ExistresJun 2019Closed

Home Energy Center Inc

ResNov 2018Closed

B and B Plumbing Inc

ExistresSep 2018Closed

NEIL HEATING AND AIR CONDITIONING INC

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

Neighborhood Profile

Hawthorne · Minneapolis

Median reported rent861/mo

Renter-occupied71.1%

Median home value$185K

Vacancy rate3.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1016

Market Snapshot

Zip code 55411

Median sale price$243K-2.9% YoY

Median price / sqft$140/sqft

Median days to close40 days

Active listings67

Source: Redfin Data Center (Invalid Date) · Zip 55411

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 width32 ft

Buildable depth117 ft

Area~3,758 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 3,758 sqft buildable area.

Est. units

Yield on cost

4.2%

Spread

-1.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2909 3RD ST N MINNEAPOLIS MN 55411	SHANNON B ST.PETERS	LOW INCOME RENTAL	$199,600	35 ft
306 29TH AVE N MINNEAPOLIS MN 55411	RACHEL GRAN	RESIDENTIAL	$170,700	43 ft
2911 3RD ST N MINNEAPOLIS MN 55411	ROBERT ZEMAN	RESIDENTIAL	$116,900	63 ft
2915 3RD ST N MINNEAPOLIS MN 55411	PEONY HILDRETH	RESIDENTIAL-TWO UNIT	$236,200	91 ft
2919 3RD ST N MINNEAPOLIS MN 55411	MAGNOLIA HOMES LLC	VACANT LAND-RESIDENTIAL	$0	126 ft
2831 3RD ST N MINNEAPOLIS MN 55411	HANNA FELEKE	RESIDENTIAL-TWO UNIT	$362,600	153 ft
2923 3RD ST N MINNEAPOLIS MN 55411	LARRICK POTVIN & NALA FORD	RESIDENTIAL	$284,800	167 ft
2906 4TH ST N MINNEAPOLIS MN 55411	GLADYS I LARGO QUITUISACA	RESIDENTIAL-TWO UNIT	$196,400	172 ft
2900 4TH ST N MINNEAPOLIS MN 55411	J JUNG & M JUNG	LOW INCOME RENTAL	$217,200	176 ft
2910 4TH ST N MINNEAPOLIS MN 55411	JSW PROPERTIES LLC	RESIDENTIAL-TWO UNIT	$203,100	178 ft

Property History

Most Recent Sale

Date201902

Price$185,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$2,103