1028 22ND AVE S E MINNEAPOLIS MN 55414

PID: 1902923210136

Property Overview

Parcel ID1902923210136

Lot Size12,613 sq ft (0.290 ac)

Lot Dimensions (est.)128 ft wide × 98 ft deep

Year Built1909

Property ClassRESIDENTIAL

OwnerTHEODORE JAMES LOCKWOOD

Assessed Value$238,000

Land Value$100,000

Building Value$138,000

Annual Tax$3,332

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

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 rent1,416/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 width35 ft

Buildable depth240 ft

Area~7,660 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 7,660 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
1030 22ND AVE S E MINNEAPOLIS MN 55414	EERIC GUTIERREZ	RESIDENTIAL-TWO UNIT	$337,800	75 ft
1036 22ND AVE S E MINNEAPOLIS MN 55414	K & R STRATEGIC INVESTMENTS	RESIDENTIAL	$317,500	115 ft
1023 23RD AVE S E MINNEAPOLIS MN 55414	GORDON J OLSON	RESIDENTIAL	$202,900	130 ft
1027 23RD AVE S E MINNEAPOLIS MN 55414	FREDERIK K BETHKE ET AL	RESIDENTIAL	$316,600	136 ft
1019 23RD AVE S E MINNEAPOLIS MN 55414	GORDON J OLSON	RESIDENTIAL	$246,700	137 ft
1031 23RD AVE S E MINNEAPOLIS MN 55414	D PURCELL & K PURCELL	RESIDENTIAL	$275,100	153 ft
1015 23RD AVE S E MINNEAPOLIS MN 55414	SANDRA VEE	RESIDENTIAL-TWO UNIT	$252,600	154 ft
1040 22ND AVE S E MINNEAPOLIS MN 55414	PARADYGM PROPS OF T C LLC	RESIDENTIAL	$274,700	155 ft
1035 23RD AVE S E MINNEAPOLIS MN 55414	KLP REAL ESTATE LLC	RESIDENTIAL	$267,000	178 ft
1011 23RD AVE S E MINNEAPOLIS MN 55414	JOHN GEYEN	RESIDENTIAL-TWO UNIT	$301,700	184 ft

Property History

Most Recent Sale

Date200507

Price$500

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$3,332