1623 3RD ST N E MINNEAPOLIS MN 55413

PID: 1402924220166

Property Overview

Parcel ID1402924220166

Lot Size3,875 sq ft (0.089 ac)

Lot Dimensions (est.)77 ft wide × 50 ft deep

Year Built1900

Property ClassRESIDENTIAL

OwnerMAGDALENA OSORIO

Assessed Value$299,000

Land Value$115,000

Building Value$184,000

Annual Tax$4,354

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

Front Street

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

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width64 ft

Buildable depth10 ft

Area~1,386 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 1,386 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1619 3RD ST N E MINNEAPOLIS MN 55413	CEL MONTON LLC	RESIDENTIAL	$319,000	63 ft
308 17TH AVE N E MINNEAPOLIS MN 55413	PATRICK M HORAN	RESIDENTIAL	$54,000	77 ft
1617 3RD ST N E MINNEAPOLIS MN 55413	LUIS J ALVARADO	RESIDENTIAL	$218,200	96 ft
1615 3RD ST N E MINNEAPOLIS MN 55413	TAYLOR G HOCH	RESIDENTIAL-TWO UNIT	$342,000	119 ft
301 17TH AVE N E MINNEAPOLIS MN 55413	M3 PROPS LLC	APARTMENT	$1,610,000	132 ft
1613 3RD ST N E MINNEAPOLIS MN 55413	JEREMIAH ALBRECHT ET AL	RESIDENTIAL	$692,100	152 ft
312 17TH AVE N E MINNEAPOLIS MN 55413	ABDI AHMED MOHAMED	VACANT LAND-RESIDENTIAL	$13,000	171 ft
1709 3RD ST N E MINNEAPOLIS MN 55413	SASHA LINDQUIST	RESIDENTIAL	$242,700	184 ft
1624 3RD ST NE MINNEAPOLIS MN 55413	DOUGLAS & ELENA KALLEVIG TRS	RESIDENTIAL-TWO UNIT	$358,700	187 ft
1609 3RD ST N E MINNEAPOLIS MN 55413	PARKER DESAUTEL	RESIDENTIAL-TWO UNIT	$372,300	189 ft

Property History

Most Recent Sale

Date201212

Price$123,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,354