5000 3RD AVE S MINNEAPOLIS MN 55419

PID: 1502824420036

Property Overview

Parcel ID1502824420036

Lot Size10,749 sq ft (0.247 ac)

Lot Dimensions (est.)134 ft wide × 80 ft deep

Year Built1931

Property ClassRESIDENTIAL

OwnerB R SCHALK & M KOTTKE

Assessed Value$693,600

Land Value$243,000

Building Value$450,600

Annual Tax$11,795

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

3 permits on record since 2003 · $300K total declared value · Most recent: Feb 2024 (res)

ResFeb 2024Closed

CenterPoint Energy Resource Corp

ExistresSep 2018Closed

Pronto Heating & Air Conditioning Inc

Building Re-inspectionMar 2003

$300K

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

Neighborhood Profile

Field · Minneapolis

Median reported rent1,682/mo

Renter-occupied6.3%

Median home value$446K

Vacancy rate4.8%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1116

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

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width121 ft

Buildable depth40 ft

Area~6,319 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 6,319 sqft buildable area.

Est. units

Yield on cost

2.9%

Spread

-2.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
5010 3RD AVE S MINNEAPOLIS MN 55419	E FREESMEIER & D LEITER	RESIDENTIAL	$481,900	67 ft
4952 3RD AVE S MINNEAPOLIS MN 55419	P R HALLER/L LAU HALLER JL T	RESIDENTIAL	$432,300	121 ft
5003 2ND AVE S MINNEAPOLIS MN 55419	MARIA GEIGLE & STAVEN BRUCE	RESIDENTIAL	$553,000	134 ft
5020 3RD AVE S MINNEAPOLIS MN 55419	JIM YOUNGBLUT & BRENDA ROTH	RESIDENTIAL	$1,170,000	148 ft
5011 2ND AVE S MINNEAPOLIS MN 55419	BRIAN P KARALUS	RESIDENTIAL	$729,300	157 ft
4948 3RD AVE S MINNEAPOLIS MN 55419	PAMELA D FRICKE CRUZ	RESIDENTIAL	$408,300	163 ft
4951 2ND AVE S MINNEAPOLIS MN 55419	ANNE LIFTON	RESIDENTIAL	$301,000	183 ft
5001 3RD AVE S MINNEAPOLIS MN 55419	S VEERAMACHANENI ET AL	RESIDENTIAL	$538,500	197 ft
4944 3RD AVE S MINNEAPOLIS MN 55419	AGNARS SVALBE	RESIDENTIAL	$226,400	205 ft
5019 2ND AVE S MINNEAPOLIS MN 55419	J E RUCKER III & S C RUCKER	RESIDENTIAL	$792,100	210 ft

Property History

Most Recent Sale

Date202009

Price$660,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$11,795