1123 3RD ST N E MINNEAPOLIS MN 55413

PID: 1402924230190

Property Overview

Parcel ID1402924230190

Lot Size6,435 sq ft (0.148 ac)

Lot Dimensions (est.)132 ft wide × 49 ft deep

Year Built1920

Property ClassRESIDENTIAL-TWO UNIT

OwnerTIMOTHY S KENNEDY

Assessed Value$354,600

Land Value$139,000

Building Value$215,600

Annual Tax$5,284

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

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

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width41 ft

Buildable depth86 ft

Area~3,463 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 3-story wood frame (5–12 units) benchmarks for 3,463 sqft buildable area.

Est. units

Yield on cost

4.1%

Spread

-1.4%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1117 3RD ST N E MINNEAPOLIS MN 55413	LORREN STAFFORD/ROSE HELLAT	CONDOMINIUM	$249,000	65 ft
1117 3RD ST N E MINNEAPOLIS MN 55413	JECA HOLDINGS I LLC	CONDOMINIUM	$248,000	65 ft
1117 3RD ST N E MINNEAPOLIS MN 55413	LORREN R STAFFORD	CONDOMINIUM	$252,000	65 ft
MN	Unknown	—	—	65 ft
304 12TH AVE N E MINNEAPOLIS MN 55413	VICTORIA HIDALGO GONZALEZ	RESIDENTIAL-TWO UNIT	$352,800	66 ft
300 12TH AVE N E MINNEAPOLIS MN 55413	J P SANDEEN & LAUREN J MARSH	RESIDENTIAL-TWO UNIT	$413,000	73 ft
306 12TH AVE N E MINNEAPOLIS MN 55413	VALUE HOMES LLC	RESIDENTIAL-TWO UNIT	$238,100	81 ft
308 12TH AVE N E MINNEAPOLIS MN 55413	MARY E FORKENBROCK	RESIDENTIAL	$229,200	97 ft
314 12TH AVE N E MINNEAPOLIS MN 55413	RAYMOND REMODELS LLC	RESIDENTIAL	$341,100	127 ft
228 12TH AVE N E MINNEAPOLIS MN 55413	VALUE HOMES LLC	RESIDENTIAL-TWO UNIT	$254,800	157 ft

Property History

Most Recent Sale

Date199212

Price$63,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$5,284