4550 HUMBOLDT AVE N MINNEAPOLIS MN 55412

PID: 1211821330107

Property Overview

Parcel ID1211821330107

Lot Size53,634 sq ft (1.231 ac)

Lot Dimensions (est.)223 ft wide × 241 ft deep

Year Built2006

Property ClassAPARTMENT

OwnerKINGSLEY COMMONS L P

Assessed Value$2,580,800

Land Value$35,800

Building Value$170,700

Annual Tax$12,990

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

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 ↗

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 ↗

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

Lind - Bohanon · Minneapolis

Median reported rent1,200/mo

Renter-occupied30.7%

Median home value$219K

Vacancy rate6.6%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1.02

Market Snapshot

Zip code 55412

Median sale price$247K+2.1% YoY

Median price / sqft$181/sqft

Median days to close30 days

Active listings80

Source: Redfin Data Center (Invalid Date) · Zip 55412

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 width213 ft

Buildable depth201 ft

Area~36,386 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 36,386 sqft buildable area.

Est. units

Yield on cost

4.3%

Spread

-1.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1315 46TH AVE N MINNEAPOLIS MN 55412	CITY OF MPLS PARK/REC BOARD	LAND-COMMERCIAL	$0	155 ft
4524 HUMBOLDT AVE N MINNEAPOLIS MN 55412	CITY OF MINNEAPOLIS	VACANT LAND-APARTMENT	$0	187 ft
4600 HUMBOLDT AVE N MINNEAPOLIS MN 55412	SHINGLE CREEK SENIOR HSING	APARTMENT	$7,807,800	320 ft
4631 FREMONT AVE N MINNEAPOLIS MN 55412	CITY OF MPLS PARK BOARD	LAND-COMMERCIAL	$0	369 ft
4612 FREMONT AVE N MINNEAPOLIS MN 55412	CITY OF MPLS PARK BOARD	LAND-COMMERCIAL	$0	424 ft
4525 HUMBOLDT AVE N MINNEAPOLIS MN 55412	CEVALLOS ENTERPRISES LLC	LAND - INDUSTRIAL	$100,700	425 ft
4520 HUMBOLDT AVE N MINNEAPOLIS MN 55412	TRI STATE LAND CO	RAILROAD	$14,600	445 ft
4525 HUMBOLDT AVE N MINNEAPOLIS MN 55412	TRI STATE LAND CO	RAILROAD	$7,300	447 ft
4500 DUPONT AVE N MINNEAPOLIS MN 55412	MPLS ST P AND S STE M RY	RAILROAD	$618,000	455 ft
4451 DUPONT AVE N MINNEAPOLIS MN 55412	MPLS ST P AND S STE M RY	RAILROAD	$394,100	470 ft

Property History

Most Recent Sale

Date200608

Price$167,121

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$12,990