1223 5TH ST N E MINNEAPOLIS MN 55413

PID: 1402924240197

Property Overview

Parcel ID1402924240197

Lot Size8,291 sq ft (0.190 ac)

Lot Dimensions (est.)138 ft wide × 60 ft deep

Year Built1907

Property ClassTRIPLEX

OwnerSORAYA SCOTT & NEIL SCOTT

Assessed Value$559,300

Land Value$163,000

Building Value$396,300

Annual Tax$10,621

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

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 rent647/mo

Renter-occupied60.8%

Median home value$341K

Vacancy rate7.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1025

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 width50 ft

Buildable depth98 ft

Area~4,907 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 4,907 sqft buildable area.

Est. units

Yield on cost

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1227 5TH ST N E MINNEAPOLIS MN 55413	N P STANOCH & J STANOCH	RESIDENTIAL	$305,900	50 ft
1217 5TH ST N E MINNEAPOLIS MN 55413	REHN P HASSELL	RESIDENTIAL	$377,400	60 ft
1231 5TH ST N E MINNEAPOLIS MN 55413	JONATHAN J DAHL	RESIDENTIAL	$379,000	90 ft
1211 5TH ST N E MINNEAPOLIS MN 55413	M CASTELLAN & M SETO	RESIDENTIAL-TWO UNIT	$369,100	110 ft
1235 5TH ST N E MINNEAPOLIS MN 55413	PETER NGUYEN	COMMERCIAL-PREFERRED	$256,000	133 ft
1207 5TH ST N E MINNEAPOLIS MN 55413	Z P WACHOWIAK & L M GORMAN	RESIDENTIAL	$415,800	150 ft
1222 6TH ST N E MINNEAPOLIS MN 55413	1222 6TH STREET NE LLC	RESIDENTIAL-TWO UNIT	$542,900	152 ft
1218 6TH ST N E MINNEAPOLIS MN 55413	PHILIP S CHARBONEAU	RESIDENTIAL	$300,500	155 ft
1226 6TH ST N E MINNEAPOLIS MN 55413	ROSELEE BUECHLER	RESIDENTIAL	$360,900	160 ft
1214 6TH ST N E MINNEAPOLIS MN 55413	SAMUEL BRAMEL & CECILIA HALL	RESIDENTIAL	$338,200	167 ft

Property History

Most Recent Sale

Date201507

Price$295,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$10,621