2011 CENTRAL AVE N E MINNEAPOLIS MN 55418

PID: 1202924330209

Property Overview

Parcel ID1202924330209

Lot Size5,396 sq ft (0.124 ac)

Lot Dimensions (est.)45 ft wide × 119 ft deep

Year Built0

Property ClassVACANT LAND-APARTMENT

OwnerGASPARRE NEW BOSTON SQ LLC

Assessed Value$86,300

Land Value$86,300

Building Value$0

Annual Tax$1,639

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

1 permit on record since 2006 · $57K total declared value · Most recent: Jul 2006 (building re-inspection)

Building Re-inspectionJul 2006

$57K

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

Neighborhood Profile

Windom Park · Minneapolis

Median reported rent1,259/mo

Renter-occupied70.2%

Median home value$289K

Vacancy rate11.6%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1019

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

UN3Urban Neighborhood 3

Urban Neighborhood 3 — medium-density residential

Typical Uses

·Apartment buildings
·Mixed-use with neighborhood retail

Max Height50 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width35 ft

Buildable depth79 ft

Area~257 sqft

Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.

Development Feasibility

Potentially Feasible

Back-of-envelope estimate based on sfr / adu benchmarks for 257 sqft buildable area.

Est. units

Yield on cost

6.9%

Spread

+1.4%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2014 POLK ST N E MINNEAPOLIS MN 55418	JOEL MERKENS	RESIDENTIAL-TWO UNIT	$384,600	93 ft
2018 POLK ST N E MINNEAPOLIS MN 55418	BRADY MILLER	RESIDENTIAL	$368,600	101 ft
2010 POLK ST N E MINNEAPOLIS MN 55418	TARA J SCHMOLL	RESIDENTIAL	$292,400	101 ft
2015 CENTRAL AVE N E MINNEAPOLIS MN 55418	GASPARRE NEW BOSTON SQ LLC	APARTMENT	$12,969,000	106 ft
948 22ND AVE N E MINNEAPOLIS MN 55418	GASPARRE NEW BOSTON SQ LLC	VACANT LAND-APARTMENT	$40,800	110 ft
953 20TH AVE N E MINNEAPOLIS MN 55418	JINGHAI NIU & YALE ZHANG	RESIDENTIAL-TWO UNIT	$259,000	112 ft
952 22ND AVE N E MINNEAPOLIS MN 55418	GEORGE MILBERG	RESIDENTIAL-TWO UNIT	$259,900	117 ft
954 22ND AVE N E MINNEAPOLIS MN 55418	JENNICA KRUSE	RESIDENTIAL	$198,000	133 ft
957 20TH AVE N E MINNEAPOLIS MN 55418	ANDERSON MILFORT	RESIDENTIAL-TWO UNIT	$270,200	134 ft
958 22ND AVE N E MINNEAPOLIS MN 55418	JOHN B & PAMELA J SUNT	RESIDENTIAL	$290,000	169 ft

Property History

Current Tax Year

Year2026

Tax Due$1,639