5331 48TH AVE S MINNEAPOLIS MN 55417

PID: 1702823330435

Property Overview

Parcel ID1702823330435

Lot Size768 sq ft (0.018 ac)

Lot Dimensions (est.)76 ft wide × 10 ft deep

Year Built0

Property ClassVACANT LAND-APARTMENT

OwnerOAKS ML LLC

Assessed Value$11,300

Land Value$11,300

Building Value$0

Annual Tax$255

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

Minnehaha · Minneapolis

Median reported rent1,555/mo

Renter-occupied20.2%

Median home value$286K

Vacancy rate11.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 119.98

Market Snapshot

Zip code 55417

Median sale price$371K-4.4% YoY

Median price / sqft$244/sqft

Median days to close34 days

Active listings28

Source: Redfin Data Center (Invalid Date) · Zip 55417

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 width1 ft

Buildable depth30 ft

Area~50 sqft

Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.

Development Feasibility

Potentially Feasible

Back-of-envelope estimate based on sfr / adu benchmarks for 50 sqft buildable area.

Est. units

Yield on cost

43.7%

Spread

+38.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
5333 48TH AVE S MINNEAPOLIS MN 55417	MARK IRIS	RESIDENTIAL	$248,000	28 ft
5337 48TH AVE S MINNEAPOLIS MN 55417	DEBRA PIKE	RESIDENTIAL	$339,200	69 ft
5341 48TH AVE S MINNEAPOLIS MN 55417	CAROLE JEAN JORE	RESIDENTIAL	$352,000	111 ft
5310 MINNEHAHA AVE MINNEAPOLIS MN 55417	OAKS ML LLC	APARTMENT	$14,067,000	135 ft
5345 48TH AVE S MINNEAPOLIS MN 55417	ANDREW I PRESNAIL	RESIDENTIAL	$266,400	152 ft
5336 48TH AVE S MINNEAPOLIS MN 55417	L S BURGETT & K A GRAY	RESIDENTIAL	$241,000	158 ft
5340 48TH AVE S MINNEAPOLIS MN 55417	PATRICK THOMAS O'CONNOR	RESIDENTIAL	$320,900	161 ft
5332 48TH AVE S MINNEAPOLIS MN 55417	JEFFREY R NEWCOMER	RESIDENTIAL	$275,300	166 ft
5342 MINNEHAHA AVE MINNEAPOLIS MN 55417	MILEN CORP	LAND-COMMERCIAL	$81,900	169 ft
5344 48TH AVE S MINNEAPOLIS MN 55417	BARBARA J HEIMANN	RESIDENTIAL	$212,500	173 ft

Property History

Current Tax Year

Year2026

Tax Due$255