2962 RIVER PKWY W MINNEAPOLIS MN 55406

PID: 3202923330008

Property Overview

Parcel ID3202923330008

Lot Size10,047 sq ft (0.231 ac)

Lot Dimensions (est.)211 ft wide × 48 ft deep

Year Built1951

Property ClassRESIDENTIAL

OwnerVANDA R NIEMI

Assessed Value$513,000

Land Value$285,000

Building Value$228,000

Annual Tax$7,981

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

5 permits on record since 2019 · $42K total declared value · Most recent: Jan 2024 (res)

ResJan 2024Closed

Urban Pine Plumbing and Mechanical Inc

ResFeb 2022Closed

Glacier Plumbing Inc

RemodelFeb 2022Closed

$25K

AMBERWOOD CONSTRUCTION INC

ExistresJul 2019Closed

$2K

Heating and Cooling Two Inc

MiscJun 2019Closed

$15K

AMBERWOOD CONSTRUCTION INC

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

Neighborhood Profile

Cooper · Minneapolis

Median reported rent1,309/mo

Renter-occupied16.5%

Median home value$339K

Vacancy rate5.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1076

Market Snapshot

Zip code 55406

Median sale price$340K+3.0% YoY

Median price / sqft$248/sqft

Median days to close21 days

Active listings39

Source: Redfin Data Center (Invalid Date) · Zip 55406

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 width201 ft

Buildable depth8 ft

Area~6,425 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 6,425 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
2956 RIVER PKWY W MINNEAPOLIS MN 55406	J T LEONE & M C TOMKO	RESIDENTIAL	$475,000	50 ft
2966 RIVER PKWY W MINNEAPOLIS MN 55406	JANINE BYERS	RESIDENTIAL-TWO UNIT	$473,300	50 ft
2972 RIVER PKWY W MINNEAPOLIS MN 55406	DAVID MULLER & KELLI MULLER	CONDOMINIUM	$434,000	101 ft
2974 RIVER PKWY W MINNEAPOLIS MN 55406	K BALDONADO & M BALDONADO	CONDOMINIUM	$419,000	101 ft
2972 RIVER PKWY W MINNEAPOLIS MN 55406	DAVID MULLER & KELLI MULLER	CONDO GARAGE/MISCELLANEOUS	$22,600	101 ft
2974 RIVER PKWY W MINNEAPOLIS MN 55406	K BALDONADO & M BALDONADO	CONDO GARAGE/MISCELLANEOUS	$22,600	101 ft
MN	Unknown	—	—	101 ft
2950 RIVER PKWY W MINNEAPOLIS MN 55406	J A REIMERS & E R REIMERS	RESIDENTIAL	$871,200	110 ft
2946 RIVER PKWY W MINNEAPOLIS MN 55406	R KOTNIK & Z KOTNIK	RESIDENTIAL	$835,600	179 ft
2939 46TH AVE S MINNEAPOLIS MN 55406	MARK GIBSON	RESIDENTIAL	$417,700	232 ft

Property History

Most Recent Sale

Date200807

Price$100

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$7,981