1223 THOMAS AVE N MINNEAPOLIS MN 55411

PID: 2002924120004

Property Overview

Parcel ID2002924120004

Lot Size7,722 sq ft (0.177 ac)

Lot Dimensions (est.)129 ft wide × 60 ft deep

Year Built1912

Property ClassRESIDENTIAL

OwnerA & B MC FARLANE JR

Assessed Value$389,000

Land Value$28,000

Building Value$361,000

Annual Tax$5,995

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

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

1 permit on record since 2017 · Most recent: Mar 2017 (res)

ResMar 2017Closed

Urban Pine Plumbing and Mechanical Inc

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

Neighborhood Profile

Willard - Hay · Minneapolis

Median reported rent1,203/mo

Renter-occupied33.4%

Median home value$254K

Vacancy rate1.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 32

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~4,433 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 4,433 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
1217 THOMAS AVE N MINNEAPOLIS MN 55411	FRED LEE ROLL	RESIDENTIAL	$293,200	60 ft
1229 THOMAS AVE N MINNEAPOLIS MN 55411	R BRADLEY/D HELGREN-BRADLEY	RESIDENTIAL	$433,000	70 ft
1211 THOMAS AVE N MINNEAPOLIS MN 55411	THE GOENS LIVING TRUST	RESIDENTIAL	$249,000	120 ft
1235 THOMAS AVE N MINNEAPOLIS MN 55411	CHARLENE F TATE	RESIDENTIAL	$179,200	140 ft
1220 UPTON AVE N MINNEAPOLIS MN 55411	LAURA A & GLENN KIDD III	RESIDENTIAL	$291,500	142 ft
1216 UPTON AVE N MINNEAPOLIS MN 55411	JOYCE E PICKLE TRUST	RESIDENTIAL	$368,600	154 ft
1228 UPTON AVE N MINNEAPOLIS MN 55411	S W ALLEYNE & N G BAUKNIGHT	RESIDENTIAL	$312,100	155 ft
2520 FARWELL PL MINNEAPOLIS MN 55411	D & P HAUKOM	RESIDENTIAL	$242,600	163 ft
1205 THOMAS AVE N MINNEAPOLIS MN 55411	ARIANNE ZAGER	RESIDENTIAL	$345,500	180 ft
1234 UPTON AVE N MINNEAPOLIS MN 55411	JAMES WASHINGTON	RESIDENTIAL	$249,300	183 ft

Property History

Current Tax Year

Year2026

Tax Due$5,995