4555 28TH AVE S MINNEAPOLIS MN 55406

PID: 1202824440016

Property Overview

Parcel ID1202824440016

Lot Size5,070 sq ft (0.116 ac)

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

Year Built2003

Property ClassRESIDENTIAL

OwnerT M LAHTI & G M VATH

Assessed Value$529,000

Land Value$136,000

Building Value$393,000

Annual Tax$8,455

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

1 permit on record since 2003 · $182K total declared value · Most recent: Apr 2003 (binb)

BinbApr 2003

$182K

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

Neighborhood Profile

Minneapolis

Median reported rent1,733/mo

Renter-occupied14.2%

Median home value$372K

Vacancy rate2.6%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1111

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

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

Front Street

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

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)10 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width112 ft

Buildable depth0 ft

Area~2,169 sqft

Lot dimensions are insufficient for the standard setbacks shown.

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 2,169 sqft buildable area.

Est. units

Yield on cost

3.2%

Spread

-2.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
4553 28TH AVE S MINNEAPOLIS MN 55406	JOSEPH D SMITH JR	RESIDENTIAL	$275,200	40 ft
4549 28TH AVE S MINNEAPOLIS MN 55406	MIRANDA SOUKUP	RESIDENTIAL	$490,600	80 ft
4601 28TH AVE S MINNEAPOLIS MN 55406	D NGUYEN & K S TOV	RESIDENTIAL-TWO UNIT	$443,300	100 ft
4545 28TH AVE S MINNEAPOLIS MN 55406	PHILLIP & SARABETH MANTIA	RESIDENTIAL	$337,900	120 ft
4558 29TH AVE S MINNEAPOLIS MN 55406	JONATHAN OLSON	RESIDENTIAL	$258,400	140 ft
4605 28TH AVE S MINNEAPOLIS MN 55406	R J & E K PAULY	RESIDENTIAL-TWO UNIT	$460,300	140 ft
4552 29TH AVE S MINNEAPOLIS MN 55406	JACOB A SOPER	RESIDENTIAL	$371,100	146 ft
4541 28TH AVE S MINNEAPOLIS MN 55406	N STOCK & K B TABER	RESIDENTIAL	$418,800	160 ft
4548 29TH AVE S MINNEAPOLIS MN 55406	D P PORETTI & G J PORETTI	RESIDENTIAL	$488,200	161 ft
4600 29TH AVE S MINNEAPOLIS MN 55406	A P FULLER & K N SEAGER	RESIDENTIAL	$552,800	174 ft

Property History

Most Recent Sale

Date200206

Price$80,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$8,455