1086 12TH AVE S E MINNEAPOLIS MN 55414

PID: 2402924120048

Property Overview

Parcel ID2402924120048

Lot Size5,297 sq ft (0.122 ac)

Lot Dimensions (est.)132 ft wide × 40 ft deep

Year Built1911

Property ClassRESIDENTIAL-TWO UNIT

OwnerT S EDMAN & T L SPEAKE

Assessed Value$395,300

Land Value$94,000

Building Value$301,300

Annual Tax$7,507

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

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 depth92 ft

Area~2,771 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 2,771 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
1082 12TH AVE S E MINNEAPOLIS MN 55414	K A FELBECK & J H ECKHART	RESIDENTIAL	$169,800	40 ft
1088 12TH AVE S E MINNEAPOLIS MN 55414	KRISTIN T DOOLEY	RESIDENTIAL	$299,900	40 ft
1078 12TH AVE S E MINNEAPOLIS MN 55414	PB PARTNERS LLC	RESIDENTIAL	$287,700	80 ft
1094 12TH AVE S E MINNEAPOLIS MN 55414	MICHAEL A WILSON	RESIDENTIAL	$297,200	81 ft
1074 12TH AVE S E MINNEAPOLIS MN 55414	IRINA VANASEK	RESIDENTIAL	$298,700	120 ft
1098 12TH AVE S E MINNEAPOLIS MN 55414	CHRISTOPHER D BECKER	RESIDENTIAL	$258,100	121 ft
1085 13TH AVE S E MINNEAPOLIS MN 55414	POWDERHORN BUILDINGS LLC	RESIDENTIAL	$223,700	131 ft
1089 13TH AVE S E MINNEAPOLIS MN 55414	ANTON WINTER	RESIDENTIAL	$348,100	137 ft
1081 13TH AVE S E MINNEAPOLIS MN 55414	WAYNE 1081 LLC	RESIDENTIAL-TWO UNIT	$428,000	138 ft
1095 13TH AVE S E MINNEAPOLIS MN 55414	DANIEL G KORDIAK	RESIDENTIAL	$390,400	154 ft

Property History

Most Recent Sale

Date202106

Price$469,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$7,507