508 2ND ST N E MINNEAPOLIS MN 55413

PID: 1402924340120

Property Overview

Parcel ID1402924340120

Lot Size10,229 sq ft (0.235 ac)

Lot Dimensions (est.)176 ft wide × 58 ft deep

Year Built1913

Property ClassAPARTMENT

OwnerSHIV NATH TANDON

Assessed Value$541,000

Land Value$352,300

Building Value$188,700

Annual Tax$20,052

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 ↗

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 ↗

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

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

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width52 ft

Buildable depth125 ft

Area~6,503 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 6,503 sqft buildable area.

Est. units

Yield on cost

4.0%

Spread

-1.5%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
512 2ND ST N E MINNEAPOLIS MN 55413	ROBIN COTTON & ERIN RUPP	RESIDENTIAL-TWO UNIT	$425,500	50 ft
500 2ND ST N E MINNEAPOLIS MN 55413	D K BOUQUET & G BOUQUET	RESIDENTIAL	$599,300	68 ft
147 5TH AVE N E MINNEAPOLIS MN 55413	D J WIERING & L L WIERING	VACANT LAND-RESIDENTIAL	$21,000	88 ft
140 6TH AVE N E MINNEAPOLIS MN 55413	140 SIXTH AVE NE LLC	APARTMENT	$878,000	110 ft
143 5TH AVE N E MINNEAPOLIS MN 55413	DWIGHT WIERING	RESIDENTIAL-TWO UNIT	$509,000	143 ft
505 MAIN ST N E MINNEAPOLIS MN 55413	KLP 503 LLC	APARTMENT	$1,266,100	167 ft
513 MAIN ST N E MINNEAPOLIS MN 55413	MARY ANN SHERMAN	RESIDENTIAL	$459,400	170 ft
438 2ND ST N E MINNEAPOLIS MN 55413	MOSI PROPERTIES LLC	RESIDENTIAL-TWO UNIT	$418,200	188 ft
148 5TH AVE N E MINNEAPOLIS MN 55413	C R WEST ET AL SUBJ/LE	RESIDENTIAL	$233,400	193 ft
521 MAIN ST N E MINNEAPOLIS MN 55413	FIVE TWENTY ONE LLC	APARTMENT	$5,365,500	199 ft

Property History

Most Recent Sale

Date198502

Price$109,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$20,052