1088 23RD AVE S E MINNEAPOLIS MN 55414

PID: 1902923210080

Property Overview

Parcel ID1902923210080

Lot Size5,123 sq ft (0.118 ac)

Lot Dimensions (est.)128 ft wide × 40 ft deep

Year Built1922

Property ClassRESIDENTIAL

OwnerSPARROW TRUST

Assessed Value$275,100

Land Value$79,000

Building Value$196,100

Annual Tax$4,259

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

1 permit on record since 2025 · $13K total declared value · Most recent: Sep 2025 (misc)

MiscSep 2025Closed

$13K

MAINTENANCE FREE MINNESOTA INC

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

Neighborhood Profile

Como · Minneapolis

Median reported rent1,416/mo

Renter-occupied87.3%

Median home value$321K

Vacancy rate6.1%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1040.02

Market Snapshot

Zip code 55414

Median sale price$385K+13.2% YoY

Median price / sqft$233/sqft

Median days to close91 days

Active listings36

Source: Redfin Data Center (Invalid Date) · Zip 55414

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 width30 ft

Buildable depth88 ft

Area~2,641 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 2,641 sqft buildable area.

Est. units

Yield on cost

3.5%

Spread

-2.0%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1084 23RD AVE S E MINNEAPOLIS MN 55414	RANDY S STRAUS	RESIDENTIAL	$283,100	40 ft
1092 23RD AVE S E MINNEAPOLIS MN 55414	THOMAS E SCHROEDL	RESIDENTIAL	$202,400	40 ft
1080 23RD AVE S E MINNEAPOLIS MN 55414	ADAM HARDING	RESIDENTIAL	$286,800	80 ft
1096 23RD AVE S E MINNEAPOLIS MN 55414	PB PARNTNERS II LLC	RESIDENTIAL	$242,700	80 ft
1076 23RD AVE S E MINNEAPOLIS MN 55414	PAEN LLC	RESIDENTIAL	$310,600	120 ft
1100 23RD AVE S E MINNEAPOLIS MN 55414	AMY BLICKENSDERFER	RESIDENTIAL	$256,000	120 ft
1089 24TH AVE S E MINNEAPOLIS MN 55414	THUYHANG VU	RESIDENTIAL	$250,800	142 ft
1085 24TH AVE S E MINNEAPOLIS MN 55414	CHASE BUGGETT	RESIDENTIAL	$305,900	146 ft
1093 24TH AVE S E MINNEAPOLIS MN 55414	CAROLINE HOCH	RESIDENTIAL	$324,500	148 ft
1072 23RD AVE S E MINNEAPOLIS MN 55414	PAUL C THOMPSON LIVING TRUST	RESIDENTIAL	$313,000	160 ft

Property History

Most Recent Sale

Date202101

Price$325,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,259