5624 32ND AVE S MINNEAPOLIS MN 55417

PID: 1902823230045

Property Overview

Parcel ID1902823230045

Lot Size5,976 sq ft (0.137 ac)

Lot Dimensions (est.)149 ft wide × 40 ft deep

Year Built1927

Property ClassRESIDENTIAL

OwnerJ SORENSON & J FRANKLIN

Assessed Value$322,800

Land Value$127,000

Building Value$195,800

Annual Tax$4,733

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Qualified Census Tract (QCT)High

Within a HUD-designated Qualified Census Tract — LIHTC projects here receive a 30% basis boost, significantly increasing the tax credit allocation for affordable housing development.

HUD — LIHTC Qualified Census Tracts ↗

Potential programs

LIHTC 30% Basis BoostMedium

Affordable housing developments in QCTs receive a 30% increase in eligible basis for Low Income Housing Tax Credits — materially improving project feasibility. Allocated through MHFA.

HUD — LIHTC Qualified Census Tracts ↗

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 rent1,094/mo

Renter-occupied49.4%

Median home value$326K

Vacancy rate4.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 121.01

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

UN1Urban Neighborhood 1

Urban Neighborhood 1 — low-density residential

Typical Uses

·Single-family homes
·Duplexes
·Accessory dwelling units

Max Height35 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width30 ft

Buildable depth109 ft

Area~3,282 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 3,282 sqft buildable area.

Est. units

Yield on cost

2.2%

Spread

-3.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
5620 32ND AVE S MINNEAPOLIS MN 55417	LYNN C ROVERUD	RESIDENTIAL	$277,800	40 ft
5628 32ND AVE S MINNEAPOLIS MN 55417	CARRIE WALLS/JOSEPH BOGNAR	RESIDENTIAL	$255,000	40 ft
5616 32ND AVE S MINNEAPOLIS MN 55417	KAETCHEN ALEEN HAUGEN	RESIDENTIAL	$289,000	80 ft
5632 32ND AVE S MINNEAPOLIS MN 55417	MARIA R GUAMAN CABRERA	RESIDENTIAL	$352,800	80 ft
5612 32ND AVE S MINNEAPOLIS MN 55417	T J OWENS & C E SIMS OWENS	RESIDENTIAL	$659,000	120 ft
5608 32ND AVE S MINNEAPOLIS MN 55417	CHRISTOPHER J HALLORAN	RESIDENTIAL	$399,400	160 ft
5625 31ST AVE S MINNEAPOLIS MN 55417	SCOTT W ZEMPEL	RESIDENTIAL	$272,000	163 ft
5621 31ST AVE S MINNEAPOLIS MN 55417	LISA F STONE/RICHARD L STONE	RESIDENTIAL	$394,000	167 ft
5629 31ST AVE S MINNEAPOLIS MN 55417	D SENGUPTA & S SENGUPTA	RESIDENTIAL	$357,400	168 ft
5617 31ST AVE S MINNEAPOLIS MN 55417	CAROLYN E BEATTY	RESIDENTIAL	$357,400	181 ft

Property History

Most Recent Sale

Date200307

Price$192,749

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,733