437 2ND ST N E MINNEAPOLIS MN 55413

PID: 1402924340088

Property Overview

Parcel ID1402924340088

Lot Size8,190 sq ft (0.188 ac)

Lot Dimensions (est.)140 ft wide × 59 ft deep

Year Built1891

Property ClassAPARTMENT

OwnerLEE SWITZENBERG

Assessed Value$561,000

Land Value$284,100

Building Value$276,900

Annual Tax$10,655

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

1 permit on record since 2024 · $41K total declared value · Most recent: Jun 2024 (roofwind)

RoofwindJun 2024Closed

$41K

Mayday Restoration

Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.

Neighborhood Profile

St. Anthony West · Minneapolis

Median reported rent1,674/mo

Renter-occupied50.5%

Median home value$467K

Vacancy rate12.7%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1036

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 width125 ft

Buildable depth19 ft

Area~4,283 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 4,283 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
433 2ND ST N E MINNEAPOLIS MN 55413	M UHLENKAMP & P GEHL	RESIDENTIAL	$407,500	68 ft
208 5TH AVE N E MINNEAPOLIS MN 55413	RAINERD OLSON/ LINDA B OLSON	RESIDENTIAL	$342,200	83 ft
429 2ND ST N E MINNEAPOLIS MN 55413	ANDREA KIEPE JACOB	RESIDENTIAL-TWO UNIT	$498,500	118 ft
501 2ND ST N E MINNEAPOLIS MN 55413	ST MARON MARONITE CATH CH	RESIDENTIAL-TWO UNIT	$517,800	134 ft
423 2ND ST N E MINNEAPOLIS MN 55413	CHRISTOPHER B LINDE	RESIDENTIAL-TWO UNIT	$558,300	169 ft
438 UNIVERSITY AVE N E MINNEAPOLIS MN 55413	PHUONG BAILEY/MARC S BAILEY	APARTMENT	$558,000	186 ft
438 2ND ST N E MINNEAPOLIS MN 55413	MOSI PROPERTIES LLC	RESIDENTIAL-TWO UNIT	$418,200	195 ft
432 UNIVERSITY AVE N E MINNEAPOLIS MN 55413	TONY R LIPA	RESIDENTIAL-TWO UNIT	$481,100	198 ft
509 2ND ST N E MINNEAPOLIS MN 55413	SCOTT VETSCH	RESIDENTIAL	$402,200	200 ft
419 2ND ST N E MINNEAPOLIS MN 55413	ARMANDO S MITCHELL	RESIDENTIAL	$305,100	217 ft

Property History

Most Recent Sale

Date201204

Price$253,000

TypeQUIT CLAIM DEED

Current Tax Year

Year2026

Tax Due$10,655