1517 3RD ST N E MINNEAPOLIS MN 55413

PID: 1402924220082

Property Overview

Parcel ID1402924220082

Lot Size10,890 sq ft (0.250 ac)

Lot Dimensions (est.)165 ft wide × 66 ft deep

Year Built1912

Property ClassRESIDENTIAL

OwnerC P DYKSTRA & L J SMITH

Assessed Value$597,000

Land Value$183,000

Building Value$414,000

Annual Tax$9,583

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

5 permits on record since 2020 · $188K total declared value · Most recent: May 2025 (res)

ResMay 2025Inspection

Warners Stellian Co Inc

ExistresMar 2024Closed

Hilliard Heating & Cooling Inc

AccessoryDec 2023Inspection

$188K

MYERS CONSTRUCTION MGMT INC

ResDec 2023Inspection

Lynn J Smith

ResApr 2020Closed

Linn Star Transfer Inc

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

Neighborhood Profile

Sheridan · Minneapolis

Median reported rent1,466/mo

Renter-occupied71.3%

Median home value$320K

Vacancy rate11.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 24

Market Snapshot

Zip code 55413

Median sale price$350K+2.9% YoY

Median price / sqft$213/sqft

Median days to close69 days

Active listings27

Source: Redfin Data Center (Invalid Date) · Zip 55413

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 width56 ft

Buildable depth125 ft

Area~6,997 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 6,997 sqft buildable area.

Est. units

Yield on cost

4.0%

Spread

-1.5%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1523 3RD ST N E MINNEAPOLIS MN 55413	SHALOM L WEATHERSPOON ET AL	APARTMENT	$419,000	66 ft
1507 3RD ST N E MINNEAPOLIS MN 55413	BARBARA J KNOX SUBJ/L E	RESIDENTIAL-TWO UNIT	$512,600	66 ft
1525 3RD ST N E MINNEAPOLIS MN 55413	PAUL D FRANCIS JR ET AL	RESIDENTIAL	$393,000	132 ft
305 15TH AVE N E MINNEAPOLIS MN 55413	JOSE CANO & MAXIMINA ARTEAGE	RESIDENTIAL	$363,600	142 ft
311 15TH AVE N E MINNEAPOLIS MN 55413	JASON D MILLENACKER ET AL	RESIDENTIAL	$372,000	147 ft
1512 UNIVERSITY AVE N E MINNEAPOLIS MN 55413	MICHAEL J SCHRAM	RESIDENTIAL	$217,000	165 ft
1516 UNIVERSITY AVE N E MINNEAPOLIS MN 55413	ALEXANDER P HOOVER	RESIDENTIAL-TWO UNIT	$351,700	165 ft
1510 UNIVERSITY AVE N E MINNEAPOLIS MN 55413	T MICHIEKA & A MICHIEKA	RESIDENTIAL	$216,400	174 ft
1518 UNIVERSITY AVE N E MINNEAPOLIS MN 55413	ROBERTA L KAHLE	RESIDENTIAL	$236,500	178 ft
317 15TH AVE N E MINNEAPOLIS MN 55413	NORTHEAST APARTMENTS LLC	APARTMENT	$1,340,000	208 ft

Property History

Most Recent Sale

Date201903

Price$470,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$9,583