723 THOMAS AVE N MINNEAPOLIS MN 55411

PID: 2002924130080

Property Overview

Parcel ID2002924130080

Lot Size10,351 sq ft (0.238 ac)

Lot Dimensions (est.)129 ft wide × 80 ft deep

Year Built1954

Property ClassRESIDENTIAL

OwnerT XIONG & T YANG

Assessed Value$215,600

Land Value$31,000

Building Value$184,600

Annual Tax$2,944

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

No permits found in Minneapolis open data for this parcel.

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 width70 ft

Buildable depth89 ft

Area~6,250 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 6,250 sqft buildable area.

Est. units

Yield on cost

4.1%

Spread

-1.4%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
727 THOMAS AVE N MINNEAPOLIS MN 55411	J M BEEBE & J J CHERMAK	RESIDENTIAL-TWO UNIT	$261,700	60 ft
715 THOMAS AVE N MINNEAPOLIS MN 55411	MARCUS BROWN	RESIDENTIAL	$160,000	60 ft
2605 8TH AVE N MINNEAPOLIS MN 55411	DALEHA PATTERSON	RESIDENTIAL	$214,400	100 ft
711 THOMAS AVE N MINNEAPOLIS MN 55411	AUGUST ELI BLANCHETT	RESIDENTIAL	$218,800	100 ft
707 THOMAS AVE N MINNEAPOLIS MN 55411	TIMOTHY JAY FULLER	RESIDENTIAL	$183,300	140 ft
722 UPTON AVE N MINNEAPOLIS MN 55411	ANNA GENETTE JACOBSEN	RESIDENTIAL	$226,300	141 ft
716 UPTON AVE N MINNEAPOLIS MN 55411	CURTIS L BUCKANAGA ETAL	RESIDENTIAL	$200,900	146 ft
730 UPTON AVE N MINNEAPOLIS MN 55411	730 UPTON AVENUE LLC	RESIDENTIAL-TWO UNIT	$398,600	162 ft
710 UPTON AVE N MINNEAPOLIS MN 55411	CAROL J RUCKER	RESIDENTIAL	$195,200	169 ft
701 THOMAS AVE N MINNEAPOLIS MN 55411	CITY/LAKES COMMUNITY LAND TR	—	$209,500	181 ft

Property History

Most Recent Sale

Date199705

Price$57,900

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$2,944