2523 THOMAS AVE N MINNEAPOLIS MN 55411

PID: 1702924120036

Property Overview

Parcel ID1702924120036

Lot Size7,711 sq ft (0.177 ac)

Lot Dimensions (est.)128 ft wide × 60 ft deep

Year Built1900

Property ClassRESIDENTIAL

OwnerASHRAF LLC

Assessed Value$164,000

Land Value$25,000

Building Value$139,000

Annual Tax$4,987

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

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

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

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 width50 ft

Buildable depth89 ft

Area~4,423 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 4,423 sqft buildable area.

Est. units

Yield on cost

4.0%

Spread

-1.5%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2519 THOMAS AVE N MINNEAPOLIS MN 55411	EARL GRAY	RESIDENTIAL	$203,000	50 ft
2531 THOMAS AVE N MINNEAPOLIS MN 55411	CHRISTOPHER MICHET	RESIDENTIAL	$253,800	56 ft
2509 THOMAS AVE N MINNEAPOLIS MN 55411	NATHAN ALLAN EASTMAN	RESIDENTIAL	$358,000	95 ft
2522 UPTON AVE N MINNEAPOLIS MN 55411	T CHANG & X VANG	RESIDENTIAL	$178,400	142 ft
2507 THOMAS AVE N MINNEAPOLIS MN 55411	KATHLEEN SCOTT	RESIDENTIAL	$179,900	144 ft
2530 UPTON AVE N MINNEAPOLIS MN 55411	JASON GRIETENS/TESIA PENNIE	RESIDENTIAL	$248,300	151 ft
2518 UPTON AVE N MINNEAPOLIS MN 55411	DONNA MARIE SWAMMI	RESIDENTIAL	$223,800	153 ft
2601 THOMAS AVE N MINNEAPOLIS MN 55411	LINDA J LOWERY	RESIDENTIAL	$186,800	162 ft
2510 UPTON AVE N MINNEAPOLIS MN 55411	VINCENT RENTAL PROP LLC	LOW INCOME RENTAL	$144,000	172 ft
2522 THOMAS AVE N MINNEAPOLIS MN 55411	A KRUEGER & N DUPRE	RESIDENTIAL	$217,000	188 ft

Property History

Most Recent Sale

Date200811

Price$20,100

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,987