2342 THOMAS AVE N MINNEAPOLIS MN 55411

PID: 1702924110127

Property Overview

Parcel ID1702924110127

Lot Size5,274 sq ft (0.121 ac)

Lot Dimensions (est.)128 ft wide × 41 ft deep

Year Built1938

Property ClassRESIDENTIAL

OwnerNANCY M TOLEY

Assessed Value$195,800

Land Value$16,000

Building Value$179,800

Annual Tax$2,614

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 ↗

Area of Concentrated PovertyHigh

In an ACP50 area — a Minneapolis priority designation that increases scoring for Great Streets gap financing, Affordable Housing Trust Fund, and other CPED programs.

Minneapolis — Affordable Housing Trust Fund ↗

Potential programs

Great Streets Gap FinancingMedium

Below-market loans for commercial real estate development and rehabilitation on eligible corridors; priority given to Green Zone and ACP50 locations.

Minneapolis Great Streets — Gap Financing ↗

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

Willard - Hay · Minneapolis

Median reported rent1,168/mo

Renter-occupied38.0%

Median home value$240K

Vacancy rate9.1%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1020

Market Snapshot

Zip code 55411

Median sale price$243K-2.9% YoY

Median price / sqft$140/sqft

Median days to close40 days

Active listings67

Source: Redfin Data Center (Invalid Date) · Zip 55411

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 width31 ft

Buildable depth89 ft

Area~2,747 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 2,747 sqft buildable area.

Est. units

Yield on cost

4.3%

Spread

-1.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2338 THOMAS AVE N MINNEAPOLIS MN 55411	ANNA MARIE PRICHARD	RESIDENTIAL	$264,000	40 ft
2346 THOMAS AVE N MINNEAPOLIS MN 55411	KANIA JOHNSON	RESIDENTIAL	$237,700	40 ft
2334 THOMAS AVE N MINNEAPOLIS MN 55411	B J NIGHTINGALE ET AL	RESIDENTIAL	$253,000	81 ft
2348 THOMAS AVE N MINNEAPOLIS MN 55411	ROBERT BANGASSER	RESIDENTIAL-TWO UNIT	$315,700	82 ft
2330 THOMAS AVE N MINNEAPOLIS MN 55411	ROSA A ORELLANA	RESIDENTIAL	$197,700	121 ft
2352 THOMAS AVE N MINNEAPOLIS MN 55411	CITY OF LAKES COMM LAND TRST	—	$153,000	122 ft
2343 SHERIDAN AVE N MINNEAPOLIS MN 55411	JORDAN CARROLL	RESIDENTIAL	$242,000	142 ft
2339 SHERIDAN AVE N MINNEAPOLIS MN 55411	JOHN BINEK	RESIDENTIAL	$237,200	148 ft
2347 SHERIDAN AVE N MINNEAPOLIS MN 55411	SUSAN KATHLEEN WILLIAMSON	RESIDENTIAL	$235,900	152 ft
2356 THOMAS AVE N MINNEAPOLIS MN 55411	CARPATHIAN HOLDINGS LLC	LOW INCOME RENTAL	$240,500	159 ft

Property History

Current Tax Year

Year2026

Tax Due$2,614