ParcelLens
Property Intelligence · Twin Cities
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Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.
Metro Council — Livable Communities ↗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 ↗Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.
Minneapolis — 4d Affordable Housing Incentive ↗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 ↗Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.
Metro Council — Livable Communities ↗Signals are based on public datasets; program eligibility requires verification.
6 permits on record since 2022 · $6K total declared value · Most recent: Dec 2025 (res)
CenterPoint Energy Resource Corp
CenterPoint Energy Resource Corp
CenterPoint Energy Resource Corp
CenterPoint Energy Resource Corp
CenterPoint Energy Resource Corp
Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.
Prospect Park - East River Road · Minneapolis
ACS rents reflect current tenant leases and may differ from new market rents.
Source: 2022 ACS 5-Year Estimates · Census Tract 1256
Zip code 55414
Source: Redfin Data Center (Invalid Date) · Zip 55414
Urban Neighborhood 2 — moderate-density residential
Setbacks
Estimated Buildable Footprint
Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.
Back-of-envelope estimate based on small multifamily (2–4 units, wood frame) benchmarks for 3,552 sqft buildable area.
| Address | Owner | Class | Assessed Value | Distance |
|---|---|---|---|---|
| 49 MELBOURNE AVE S E MINNEAPOLIS MN 55414 | BRIAN J MALLOY | RESIDENTIAL | $387,700 | 50 ft |
| 55 MELBOURNE AVE S E MINNEAPOLIS MN 55414 | MICHAEL T EHLENZ | APARTMENT | $674,000 | 50 ft |
| 59 MELBOURNE AVE S E MINNEAPOLIS MN 55414 | T J LEIVERMANN & T HANKS | RESIDENTIAL | $414,400 | 93 ft |
| 43 MELBOURNE AVE S E MINNEAPOLIS MN 55414 | GINA FRUNCILLO | RESIDENTIAL-TWO UNIT | $558,600 | 100 ft |
| 61 MELBOURNE AVE S E MINNEAPOLIS MN 55414 | ANDREW S THIBODEAU | RESIDENTIAL | $383,800 | 131 ft |
| 2007 FRANKLIN AVE S E MINNEAPOLIS MN 55414 | S M WILLGING & K L WELLS | RESIDENTIAL | $302,200 | 141 ft |
| 2011 FRANKLIN AVE S E MINNEAPOLIS MN 55414 | CAROLYN MAIER | RESIDENTIAL | $376,600 | 142 ft |
| 41 MELBOURNE AVE S E MINNEAPOLIS MN 55414 | A W WIRTZFELD & R M PANTON | RESIDENTIAL | $452,100 | 150 ft |
| 2003 FRANKLIN AVE S E MINNEAPOLIS MN 55414 | A MEIER & S WERNER | RESIDENTIAL | $478,100 | 150 ft |
| 2015 FRANKLIN AVE S E MINNEAPOLIS MN 55414 | J M JUNGERS & J R KEVILLE | RESIDENTIAL | $386,400 | 152 ft |
Most Recent Sale
Current Tax Year