983 18TH AVE S E MINNEAPOLIS MN 55414

PID: 2402924140025

Property Overview

Parcel ID2402924140025

Lot Size5,175 sq ft (0.119 ac)

Lot Dimensions (est.)130 ft wide × 40 ft deep

Year Built1920

Property ClassRESIDENTIAL

OwnerE J BONNES & E A OLSON

Assessed Value$375,100

Land Value$95,000

Building Value$280,100

Annual Tax$8,448

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

2 permits on record since 2021 · Most recent: May 2025 (res)

ResMay 2025Closed

Keppers Plumbing LLC

ResOct 2021Closed

CHAMPION PLUMBING LLC

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

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 width30 ft

Buildable depth89 ft

Area~2,683 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 2,683 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
979 18TH AVE S E MINNEAPOLIS MN 55414	M DYKSTRA & M LAMBRECHT	RESIDENTIAL	$449,900	40 ft
985 18TH AVE S E MINNEAPOLIS MN 55414	RICHARD C ESTREM	RESIDENTIAL-TWO UNIT	$398,800	41 ft
975 18TH AVE S E MINNEAPOLIS MN 55414	421 NE LLC	RESIDENTIAL	$303,800	80 ft
1721 BROOK AVE S E MINNEAPOLIS MN 55414	J STORLEY PROP LLC ET AL	RESIDENTIAL	$422,200	112 ft
971 18TH AVE S E MINNEAPOLIS MN 55414	NANCY JEAN BLACK	RESIDENTIAL	$294,200	119 ft
1728 COMO AVE S E MINNEAPOLIS MN 55414	DEBRA KAY LESTER	RESIDENTIAL	$238,400	146 ft
1724 COMO AVE S E MINNEAPOLIS MN 55414	EKUNDU LLC	RESIDENTIAL	$247,900	150 ft
1734 COMO AVE S E MINNEAPOLIS MN 55414	MARKS FAMILY LLC	RESIDENTIAL	$288,600	152 ft
1717 BROOK AVE S E MINNEAPOLIS MN 55414	DONALD G MACEACHERN ETAL	RESIDENTIAL	$281,100	156 ft
965 18TH AVE S E MINNEAPOLIS MN 55414	DB-BOYS LLC	RESIDENTIAL	$418,900	157 ft

Property History

Most Recent Sale

Date202604

Price$313,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$8,448