1617 3RD ST N E MINNEAPOLIS MN 55413

PID: 1402924220094

Property Overview

Parcel ID1402924220094

Lot Size3,875 sq ft (0.089 ac)

Lot Dimensions (est.)155 ft wide × 25 ft deep

Year Built1900

Property ClassRESIDENTIAL

OwnerLUIS J ALVARADO

Assessed Value$218,200

Land Value$115,000

Building Value$103,200

Annual Tax$3,000

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Potential programs

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

No permits found in Minneapolis open data for this parcel.

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 width15 ft

Buildable depth115 ft

Area~1,726 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 1,726 sqft buildable area.

Est. units

Yield on cost

3.0%

Spread

-2.5%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1615 3RD ST N E MINNEAPOLIS MN 55413	TAYLOR G HOCH	RESIDENTIAL-TWO UNIT	$342,000	25 ft
1619 3RD ST N E MINNEAPOLIS MN 55413	CEL MONTON LLC	RESIDENTIAL	$319,000	38 ft
1613 3RD ST N E MINNEAPOLIS MN 55413	JEREMIAH ALBRECHT ET AL	RESIDENTIAL	$692,100	60 ft
1623 3RD ST N E MINNEAPOLIS MN 55413	MAGDALENA OSORIO	RESIDENTIAL	$299,000	96 ft
308 17TH AVE N E MINNEAPOLIS MN 55413	PATRICK M HORAN	RESIDENTIAL	$54,000	96 ft
1609 3RD ST N E MINNEAPOLIS MN 55413	PARKER DESAUTEL	RESIDENTIAL-TWO UNIT	$372,300	97 ft
1607 3RD ST N E MINNEAPOLIS MN 55413	ALISON LETITIA KRANTZ	RESIDENTIAL	$267,900	125 ft
1605 3RD ST N E MINNEAPOLIS MN 55413	BRANDON OLSON	RESIDENTIAL-TWO UNIT	$310,500	150 ft
312 17TH AVE N E MINNEAPOLIS MN 55413	ABDI AHMED MOHAMED	VACANT LAND-RESIDENTIAL	$13,000	159 ft
1616 UNIVERSITY AVE N E MINNEAPOLIS MN 55413	PEACE FROM MIND LLC	RESIDENTIAL-TWO UNIT	$422,200	175 ft

Property History

Most Recent Sale

Date201105

Price$27,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$3,000