402 MADISON ST N E MINNEAPOLIS MN 55413

PID: 1402924430122

Property Overview

Parcel ID1402924430122

Lot Size6,644 sq ft (0.153 ac)

Lot Dimensions (est.)140 ft wide × 48 ft deep

Year Built1987

Property ClassRESIDENTIAL

OwnerMAGGIE SAFARIAN

Assessed Value$669,100

Land Value$210,000

Building Value$459,100

Annual Tax$10,952

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

St. Anthony East · Minneapolis

Median reported rent1,213/mo

Renter-occupied58.9%

Median home value$337K

Vacancy rate3.1%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1031

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 width44 ft

Buildable depth83 ft

Area~3,651 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 3,651 sqft buildable area.

Est. units

Yield on cost

3.9%

Spread

-1.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
406 MADISON ST N E MINNEAPOLIS MN 55413	RICHARD GEISSMAN & TAM HO	RESIDENTIAL	$664,100	51 ft
304 MADISON ST N E MINNEAPOLIS MN 55413	GRETCHEN AG ZETTLER	VACANT LAND-RESIDENTIAL	$86,000	55 ft
410 MADISON ST N E MINNEAPOLIS MN 55413	STEVEN F HODOROWSKI	RESIDENTIAL-TWO UNIT	$493,300	96 ft
304 MADISON ST N E MINNEAPOLIS MN 55413	GRETCHEN ANGELIKA ZETTLER	RESIDENTIAL	$487,500	99 ft
412 MADISON ST N E MINNEAPOLIS MN 55413	MDC 2000 INVESTMENTS INC	RESIDENTIAL	$295,900	133 ft
305 MADISON ST N E MINNEAPOLIS MN 55413	THERESA BORCHARDT	RESIDENTIAL	$9,000	142 ft
300 MADISON ST N E MINNEAPOLIS MN 55413	B G FEILLE & L P FEILLE	RESIDENTIAL	$599,100	156 ft
416 MADISON ST N E MINNEAPOLIS MN 55413	M F DOWNEY & M A DOWNEY	RESIDENTIAL	$430,800	173 ft
305 MADISON ST N E MINNEAPOLIS MN 55413	THERESA BORCHARDT	RESIDENTIAL	$440,000	195 ft
519 3RD AVE N E MINNEAPOLIS MN 55413	CITY OF MINNEAPOLIS	LAND-COMMERCIAL	$0	199 ft

Property History

Most Recent Sale

Date200606

Price$100

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$10,952