885 23RD AVE S E MINNEAPOLIS MN 55414

PID: 1902923240048

Property Overview

Parcel ID1902923240048

Lot Size4,718 sq ft (0.108 ac)

Lot Dimensions (est.)128 ft wide × 37 ft deep

Year Built1931

Property ClassRESIDENTIAL-TWO UNIT

OwnerSTEVEN FREDERICKSON

Assessed Value$379,500

Land Value$76,000

Building Value$303,500

Annual Tax$7,207

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

Como · Minneapolis

Median reported rent1,734/mo

Renter-occupied73.3%

Median home value$337K

Vacancy rate15.1%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1040.01

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 width25 ft

Buildable depth95 ft

Area~2,176 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 2,176 sqft buildable area.

Est. units

Yield on cost

3.4%

Spread

-2.1%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
891 23RD AVE S E MINNEAPOLIS MN 55414	KEITH TOW TRUST & NATHAN TOW	RESIDENTIAL	$215,000	39 ft
883 23RD AVE S E MINNEAPOLIS MN 55414	JOHN O WILD & ELLEN L C WILD	RESIDENTIAL	$299,700	41 ft
895 23RD AVE S E MINNEAPOLIS MN 55414	M R MELROSE & D L MELROSE	RESIDENTIAL	$340,800	81 ft
899 23RD AVE S E MINNEAPOLIS MN 55414	CHARLES ARMSTRONG	RESIDENTIAL	$286,700	123 ft
880 22ND AVE S E MINNEAPOLIS MN 55414	KYLE ANSTETT/KATLYN KELLEY	RESIDENTIAL	$405,400	142 ft
890 22ND AVE S E MINNEAPOLIS MN 55414	DANIEL JOHNSON	RESIDENTIAL	$313,400	144 ft
879 23RD AVE S E MINNEAPOLIS MN 55414	1202 COMO SE LLC	RESIDENTIAL-TWO UNIT	$800,400	145 ft
896 23RD AVE S E MINNEAPOLIS MN 55414	HENNEPIN FORFEITED LAND	VACANT LAND-RESIDENTIAL	$0	159 ft
894 22ND AVE S E MINNEAPOLIS MN 55414	MICHAEL T ERICKSON	RESIDENTIAL	$217,400	159 ft
886 23RD AVE S E MINNEAPOLIS MN 55414	JAMES D CRILL & N RAE PIERCE	RESIDENTIAL	$197,800	165 ft

Property History

Most Recent Sale

Date201507

Price$405,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$7,207