302 48TH ST E MINNEAPOLIS MN 55419

PID: 1502824110017

Property Overview

Parcel ID1502824110017

Lot Size8,101 sq ft (0.186 ac)

Lot Dimensions (est.)61 ft wide × 134 ft deep

Year Built1908

Property ClassTRIPLEX

OwnerREALLYFASTREALTY LLC

Assessed Value$241,600

Land Value$145,000

Building Value$96,600

Annual Tax$4,861

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

14 permits on record since 2021 · $286K total declared value · Most recent: Jun 2025 (res)

ResJun 2025Inspection

DEN-MARK PLUMBING INC

RemodelJan 2025Inspection

$25K

Truform Builders LTD

ResNov 2024Closed

Mr. Plumbing and Drains LLC

RemodelOct 2024Closed

$4K

JBL Builders

Commercial MinorJul 2024Closed

Mr. Plumbing and Drains LLC

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

Neighborhood Profile

Field · Minneapolis

Median reported rent1,858/mo

Renter-occupied11.4%

Median home value$326K

Vacancy rate2.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1109

Market Snapshot

Zip code 55419

Median sale price$494K-4.7% YoY

Median price / sqft$270/sqft

Median days to close29 days

Active listings30

Source: Redfin Data Center (Invalid Date) · Zip 55419

Zoning

UN1Urban Neighborhood 1

Urban Neighborhood 1 — low-density residential

Typical Uses

·Single-family homes
·Duplexes
·Accessory dwelling units

Max Height35 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width50 ft

Buildable depth95 ft

Area~4,758 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 sfr / adu benchmarks for 4,758 sqft buildable area.

Est. units

Yield on cost

2.4%

Spread

-3.1%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
4745 3RD AVE S MINNEAPOLIS MN 55419	ELIZABETH BUSCH	RESIDENTIAL	$327,300	71 ft
300 48TH ST E MINNEAPOLIS MN 55419	BITNER BYRNE REV LIVING TR	RESIDENTIAL	$420,600	71 ft
304 48TH ST E MINNEAPOLIS MN 55419	A ROSE & K S ROSE	RESIDENTIAL	$364,800	78 ft
4741 3RD AVE S MINNEAPOLIS MN 55419	SALVADOR CHYEREZ	RESIDENTIAL	$462,600	93 ft
4744 CLINTON AVE MINNEAPOLIS MN 55419	NANCY J ASHER REVOCAB TRUST	RESIDENTIAL	$275,200	117 ft
4737 3RD AVE S MINNEAPOLIS MN 55419	K M HARRINGTON & R H CHANG	RESIDENTIAL	$240,600	132 ft
4740 CLINTON AVE MINNEAPOLIS MN 55419	JOSHUA M FRIBERG	RESIDENTIAL	$227,100	138 ft
322 48TH ST E MINNEAPOLIS MN 55419	J W HILL III & S DREILING	RESIDENTIAL	$413,800	140 ft
4736 CLINTON AVE MINNEAPOLIS MN 55419	BOBBIE J CARTER	RESIDENTIAL	$336,000	166 ft
4733 3RD AVE S MINNEAPOLIS MN 55419	J S & A M GRUBISICH	RESIDENTIAL	$397,900	171 ft

Property History

Most Recent Sale

Date202004

Price$221,550

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,861