431 8TH AVE S E MINNEAPOLIS MN 55414

PID: 2402924230160

Property Overview

Parcel ID2402924230160

Lot Size7,692 sq ft (0.177 ac)

Lot Dimensions (est.)124 ft wide × 62 ft deep

Year Built1982

Property ClassCONDOMINIUM

Owner431 8TH AVENUE SOUTHEAST LLC

Assessed Value$236,000

Land Value$46,000

Building Value$190,000

Annual Tax$3,653

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictYes — Fifth Street SE

Development Opportunities

Historic district — Fifth Street SEHigh

Within a Minneapolis HPC district — alterations and new construction require design review; historic tax credits may apply.

Minneapolis Preservation & Landmarks ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

1 permit on record since 2021 · Most recent: Sep 2021 (existres)

ExistresSep 2021Closed

GV Heating and Air Inc

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

Neighborhood Profile

Marcy Holmes · Minneapolis

Median reported rent1,144/mo

Renter-occupied96.6%

Median home value—

Vacancy rate12.5%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 38.01

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

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width111 ft

Buildable depth22 ft

Area~3,826 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 3,826 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
425 8TH AVE S E MINNEAPOLIS MN 55414	NHH PROPERTIES III LLC	CONDOMINIUM	$230,000	0 ft
427 8TH AVE S E MINNEAPOLIS MN 55414	427 8TH AVE SE HOLDINGS LLC	CONDOMINIUM	$208,000	0 ft
429 8TH AVE S E MINNEAPOLIS MN 55414	R MEHTA & B MEHTA	CONDOMINIUM	$212,000	0 ft
MN	Unknown	—	—	0 ft
419 8TH AVE S E MINNEAPOLIS MN 55414	RICHARD F ZEJDLIK	RESIDENTIAL-TWO UNIT	$350,600	59 ft
417 8TH AVE S E MINNEAPOLIS MN 55414	RANDOLPH M ZEJDLIK	RESIDENTIAL-TWO UNIT	$398,100	103 ft
501 8TH AVE S E MINNEAPOLIS MN 55414	501 8TH AVE SE LLC	APARTMENT	$551,100	141 ft
800 5TH ST S E MINNEAPOLIS MN 55414	TWO PEAS IN A POD LLC	RESIDENTIAL-TWO UNIT	$413,400	152 ft
505 8TH AVE S E MINNEAPOLIS MN 55414	SARA JAMES	TRIPLEX	$467,900	184 ft
420 8TH AVE S E MINNEAPOLIS MN 55414	P C ALBERS & S M HALL	RESIDENTIAL	$670,000	207 ft

Property History

Most Recent Sale

Date202207

Price$250,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$3,653