1820 1ST AVE S MINNEAPOLIS MN 55403

PID: 2702924430282

Property Overview

Parcel ID2702924430282

Lot Size10,173 sq ft (0.234 ac)

Lot Dimensions (est.)135 ft wide × 76 ft deep

Year Built1925

Property ClassCONDOMINIUM

OwnerJACK LORGE

Assessed Value$68,400

Land Value$5,000

Building Value$63,400

Annual Tax$674

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictYes — Stevens Square

Development Opportunities

Historic district — Stevens SquareHigh

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

Minneapolis Preservation & Landmarks ↗

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

Steven's Square - Loring Heights · Minneapolis

Median reported rent998/mo

Renter-occupied73.4%

Median home value$169K

Vacancy rate18.2%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1057

Market Snapshot

Zip code 55403

Median sale price$315K+32.9% YoY

Median price / sqft$205/sqft

Median days to close111 days

Active listings62

Source: Redfin Data Center (Invalid Date) · Zip 55403

Zoning

UN3Urban Neighborhood 3

Urban Neighborhood 3 — medium-density residential

Typical Uses

·Apartment buildings
·Mixed-use with neighborhood retail

Max Height50 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width65 ft

Buildable depth96 ft

Area~6,206 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 3-story wood frame (5–12 units) benchmarks for 6,206 sqft buildable area.

Est. units

Yield on cost

4.2%

Spread

-1.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value
1820 1ST AVE S MINNEAPOLIS MN 55403	BENJAMIN CHERNER	CONDOMINIUM	$78,300
1820 1ST AVE S MINNEAPOLIS MN 55403	SCOTT NYSTROM	CONDOMINIUM	$78,300
1820 1ST AVE S MINNEAPOLIS MN 55403	WHITLEY NELSON	CONDOMINIUM	$85,500
1820 1ST AVE S MINNEAPOLIS MN 55403	CHAD T HARTMANN	CONDOMINIUM	$79,200
1820 1ST AVE S MINNEAPOLIS MN 55403	THOMAS KRISTJANSON	CONDOMINIUM	$68,400
1820 1ST AVE S MINNEAPOLIS MN 55403	MATTHEW RICH	CONDOMINIUM	$68,400
1820 1ST AVE S MINNEAPOLIS MN 55403	RACHAEL BERGAN	CONDOMINIUM	$67,500
1820 1ST AVE S MINNEAPOLIS MN 55403	STEVEN J BEAVERS	CONDOMINIUM	$68,400
1820 1ST AVE S MINNEAPOLIS MN 55403	KALPESH JOSHI	CONDOMINIUM	$79,200
1820 1ST AVE S MINNEAPOLIS MN 55403	BENJAMIN CHERNER	CONDOMINIUM	$79,200

Property History

Most Recent Sale

Date202105

Price$89,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$674