1203 3RD ST N E MINNEAPOLIS MN 55413

PID: 1402924230093

Property Overview

Parcel ID1402924230093

Lot Size1,600 sq ft (0.037 ac)

Lot Dimensions (est.)66 ft wide × 24 ft deep

Year Built1900

Property ClassRESIDENTIAL-TWO UNIT

OwnerJACOB OIE

Assessed Value$214,700

Land Value$66,000

Building Value$148,700

Annual Tax$2,942

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

5 permits on record since 2017 · $31K total declared value · Most recent: Oct 2017 (res)

ResOct 2017Closed

FIRESIDE HEARTH AND HOME

ResSep 2017Closed

UPTOWN PLUMBING HEATING AND COOLING

RemodelSep 2017Closed

$30K

Dennis R Coverston

AdditionJul 2017Closed

$1K

Dennis R Coverston

ResJun 2017Closed

Ray N Welter Heating Co

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

UN3Urban Neighborhood 3

Urban Neighborhood 3 — medium-density residential

Typical Uses

·Apartment buildings
·Mixed-use with neighborhood retail

Max Height50 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.)10 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width51 ft

Buildable depth0 ft

Area~240 sqft

Lot dimensions are insufficient for the standard setbacks shown.

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 240 sqft buildable area.

Est. units

Yield on cost

8.2%

Spread

+2.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1201 3RD ST N E MINNEAPOLIS MN 55413	SEAN FOSTER	RESIDENTIAL	$209,000	20 ft
1203 3RD ST N E MINNEAPOLIS MN 55413	LORI A VAN HOLMES ET AL	RESIDENTIAL	$255,500	33 ft
311 12TH AVE N E MINNEAPOLIS MN 55413	A BARTOLETTI & L D MITTON	RESIDENTIAL	$537,800	82 ft
1205 3RD ST N E MINNEAPOLIS MN 55413	A M KEMPER & K M JOHNS	RESIDENTIAL-TWO UNIT	$480,000	95 ft
1200 3RD ST N E MINNEAPOLIS MN 55413	BRIAN VARNER	RESIDENTIAL	$184,700	132 ft
300 12TH AVE N E MINNEAPOLIS MN 55413	J P SANDEEN & LAUREN J MARSH	RESIDENTIAL-TWO UNIT	$413,000	134 ft
313 12TH AVE N E MINNEAPOLIS MN 55413	BRADLEY W & RONDA L DUNHAM	RESIDENTIAL-TWO UNIT	$505,300	138 ft
304 12TH AVE N E MINNEAPOLIS MN 55413	VICTORIA HIDALGO GONZALEZ	RESIDENTIAL-TWO UNIT	$352,800	145 ft
1206 3RD ST N E MINNEAPOLIS MN 55413	JAMIE L SWANSON	RESIDENTIAL	$236,200	146 ft
306 12TH AVE N E MINNEAPOLIS MN 55413	VALUE HOMES LLC	RESIDENTIAL-TWO UNIT	$238,100	159 ft

Property History

Most Recent Sale

Date202110

Price$289,900

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$2,942