5040 NICOLLET AVE MINNEAPOLIS MN 55419

PID: 1502824310099

Property Overview

Parcel ID1502824310099

Lot Size7,420 sq ft (0.170 ac)

Lot Dimensions (est.)140 ft wide × 53 ft deep

Year Built1940

Property ClassRESIDENTIAL-TWO UNIT

OwnerSTEPHANIE FRENCH

Assessed Value$485,800

Land Value$195,000

Building Value$290,800

Annual Tax$9,191

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

Minneapolis

Median reported rent1,486/mo

Renter-occupied21.5%

Median home value$519K

Vacancy rate7.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1115

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

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 width43 ft

Buildable depth100 ft

Area~4,299 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 4,299 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
5044 NICOLLET AVE MINNEAPOLIS MN 55419	LAURA WALLACK	RESIDENTIAL-TWO UNIT	$539,900	53 ft
5038 NICOLLET AVE MINNEAPOLIS MN 55419	MARY M DUBOW	RESIDENTIAL-TWO UNIT	$532,500	53 ft
5048 NICOLLET AVE MINNEAPOLIS MN 55419	GERALDINE ANYANWU	RESIDENTIAL-TWO UNIT	$496,100	106 ft
5032 NICOLLET AVE MINNEAPOLIS MN 55419	JOHN THOMAS MANZAVRAKOS	RESIDENTIAL-TWO UNIT	$435,000	106 ft
16 ELMWOOD PL W MINNEAPOLIS MN 55419	E & J OLLILA	RESIDENTIAL	$747,000	157 ft
5028 NICOLLET AVE MINNEAPOLIS MN 55419	K M S PIEDRA & A P S PIEDRA	RESIDENTIAL-TWO UNIT	$536,900	159 ft
5050 NICOLLET AVE MINNEAPOLIS MN 55419	JOSEPH ROBERT MIKLAUSICH	RESIDENTIAL	$416,200	160 ft
20 ELMWOOD PL W MINNEAPOLIS MN 55419	TODD SMITH & JILL SMITH	RESIDENTIAL	$965,000	204 ft
5017 BELMONT AVE S MINNEAPOLIS MN 55419	CATHERINE M BISHOP TRUST	RESIDENTIAL	$935,000	205 ft
5024 NICOLLET AVE MINNEAPOLIS MN 55419	OSWALDO E AREVALO FARFAN	RESIDENTIAL-TWO UNIT	$533,900	212 ft

Property History

Most Recent Sale

Date201012

Price$207,300

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$9,191