2503 THOMAS AVE N MINNEAPOLIS MN 55411

PID: 1702924120029

Property Overview

Parcel ID1702924120029

Lot Size6,427 sq ft (0.148 ac)

Lot Dimensions (est.)128 ft wide × 50 ft deep

Year Built1922

Property ClassRESIDENTIAL-TWO UNIT

OwnerJIANWEI QIU

Assessed Value$272,900

Land Value$23,000

Building Value$249,900

Annual Tax$5,159

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

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 ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

2 permits on record since 2018 · $400 total declared value · Most recent: Apr 2018 (res)

ResApr 2018Closed

NOWTHEN PLUMBING INC

RemodelApr 2018Closed

$400

Jianwei Qiu

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

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 width40 ft

Buildable depth89 ft

Area~3,540 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 3,540 sqft buildable area.

Est. units

Yield on cost

3.9%

Spread

-1.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2421 THOMAS AVE N MINNEAPOLIS MN 55411	FARZANA KHAN	RESIDENTIAL-TWO UNIT	$193,100	43 ft
2507 THOMAS AVE N MINNEAPOLIS MN 55411	KATHLEEN SCOTT	RESIDENTIAL	$179,900	50 ft
2419 THOMAS AVE N MINNEAPOLIS MN 55411	JERRY LEE HAYES	RESIDENTIAL-TWO UNIT	$275,500	80 ft
2509 THOMAS AVE N MINNEAPOLIS MN 55411	NATHAN ALLAN EASTMAN	RESIDENTIAL	$358,000	99 ft
2415 THOMAS AVE N MINNEAPOLIS MN 55411	DANIEL J GROHS	RESIDENTIAL	$206,000	118 ft
2506 UPTON AVE N MINNEAPOLIS MN 55411	HARVEY E BIRTH	RESIDENTIAL	$217,300	143 ft
2519 THOMAS AVE N MINNEAPOLIS MN 55411	EARL GRAY	RESIDENTIAL	$203,000	144 ft
2502 UPTON AVE N MINNEAPOLIS MN 55411	BRANDON VUE	RESIDENTIAL	$203,000	144 ft
2508 UPTON AVE N MINNEAPOLIS MN 55411	BOEVI T LAWSON-AHLUIVI	RESIDENTIAL	$187,000	154 ft
2426 UPTON AVE N MINNEAPOLIS MN 55411	BRENDA SEYMORE/PAUL SEYMORE	RESIDENTIAL	$210,700	155 ft

Property History

Most Recent Sale

Date201712

Price$120,100

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$5,159