2639 MADISON ST N E MINNEAPOLIS MN 55418

PID: 1102924130021

Property Overview

Parcel ID1102924130021

Lot Size5,506 sq ft (0.126 ac)

Lot Dimensions (est.)116 ft wide × 47 ft deep

Year Built1947

Property ClassRESIDENTIAL

OwnerSTEVE SALCHERT

Assessed Value$243,700

Land Value$125,000

Building Value$118,700

Annual Tax$3,681

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

Development Opportunities

Area of Concentrated PovertyHigh

In an ACP50 area — a Minneapolis priority designation that increases scoring for Great Streets gap financing, Affordable Housing Trust Fund, and other CPED programs.

Minneapolis — Affordable Housing Trust Fund ↗

Potential programs

Great Streets Gap FinancingMedium

Below-market loans for commercial real estate development and rehabilitation on eligible corridors; priority given to Green Zone and ACP50 locations.

Minneapolis Great Streets — Gap Financing ↗

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 rent1,204/mo

Renter-occupied56.0%

Median home value$293K

Vacancy rate8.5%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1018

Market Snapshot

Zip code 55418

Median sale price$345K-3.1% YoY

Median price / sqft$222/sqft

Median days to close36 days

Active listings42

Source: Redfin Data Center (Invalid Date) · Zip 55418

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 width37 ft

Buildable depth77 ft

Area~2,848 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 2,848 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
2643 MADISON ST N E MINNEAPOLIS MN 55418	ALEX PATRICK JOHNSON	RESIDENTIAL	$254,300	47 ft
2635 MADISON ST N E MINNEAPOLIS MN 55418	NICHOLAS KRAUSE	RESIDENTIAL	$271,000	50 ft
2647 MADISON ST N E MINNEAPOLIS MN 55418	JEFFREY S OLSON	RESIDENTIAL	$219,200	94 ft
2631 MADISON ST N E MINNEAPOLIS MN 55418	SUGARLAND PROPERTIES LLC	RESIDENTIAL	$252,700	96 ft
2638 HOWARD ST N E MINNEAPOLIS MN 55418	C WILLRETT & L RICH	RESIDENTIAL	$226,000	130 ft
2627 MADISON ST N E MINNEAPOLIS MN 55418	MIGUEL ANGEL TUBA ET AL	RESIDENTIAL	$231,100	136 ft
2642 HOWARD ST N E MINNEAPOLIS MN 55418	DAVID C WESTCOTT	RESIDENTIAL	$235,100	138 ft
2634 HOWARD ST N E MINNEAPOLIS MN 55418	DANIEL A DOCKERY	RESIDENTIAL	$265,000	139 ft
2651 MADISON ST N E MINNEAPOLIS MN 55418	SUZANNE LEWIS	RESIDENTIAL	$233,000	142 ft
2646 HOWARD ST N E MINNEAPOLIS MN 55418	G & M PAMPUCH	RESIDENTIAL	$230,000	160 ft

Property History

Most Recent Sale

Date201911

Price$160,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$3,681