411 FRANKLIN AVE W MINNEAPOLIS MN 55405

PID: 3402924220027

Property Overview

Parcel ID3402924220027

Lot Size2,404 sq ft (0.055 ac)

Lot Dimensions (est.)37 ft wide × 65 ft deep

Year Built1903

Property ClassRESIDENTIAL-TWO UNIT

OwnerZ FAMILY PROPERTIES L L C

Assessed Value$260,700

Land Value$75,000

Building Value$185,700

Annual Tax$4,951

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

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

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Minneapolis

Median reported rent1,175/mo

Renter-occupied89.6%

Median home value$389K

Vacancy rate8.6%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 68

Market Snapshot

Zip code 55405

Median sale price$530K+73.8% YoY

Median price / sqft$270/sqft

Median days to close45 days

Active listings39

Source: Redfin Data Center (Invalid Date) · Zip 55405

Zoning

RM1Residence Goods and Services

Residential Mixed-Use 1 — low-density mixed residential

Typical Uses

·Apartments
·Townhomes
·Neighborhood-scale retail on ground floor

Max Height45 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width27 ft

Buildable depth25 ft

Area~676 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 sfr / adu benchmarks for 676 sqft buildable area.

Est. units

Yield on cost

4.3%

Spread

-1.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
415 FRANKLIN AVE W MINNEAPOLIS MN 55405	TYLER JORDAN WADE	RESIDENTIAL-TWO UNIT	$317,600	41 ft
2009 HARRIET AVE MINNEAPOLIS MN 55405	TULU'S PLACE LLC	APARTMENT	$911,000	78 ft
419 FRANKLIN AVE W MINNEAPOLIS MN 55405	LHF CAPITAL LLC	RESIDENTIAL-TWO UNIT	$312,200	86 ft
2000 GRAND AVE S MINNEAPOLIS MN 55405	ANNA IBRAHIM/ANDREW LOMAX	APARTMENT	$786,000	95 ft
2004 GRAND AVE S MINNEAPOLIS MN 55405	GRAND HOUSE LLC	RESIDENTIAL	$452,100	100 ft
2008 GRAND AVE S MINNEAPOLIS MN 55405	MARK BRENDALE ET AL	RESIDENTIAL	$343,000	120 ft
2013 HARRIET AVE MINNEAPOLIS MN 55405	KENNETH J KNOLL	RESIDENTIAL-TWO UNIT	$369,200	123 ft
2012 GRAND AVE S MINNEAPOLIS MN 55405	ANDREW OTTO/RACHEL KARGLEDER	TRIPLEX	$446,600	148 ft
2017 HARRIET AVE MINNEAPOLIS MN 55405	MPLS UPTOWN RENTALS 2017 LLC	RESIDENTIAL-TWO UNIT	$444,600	161 ft
428 FRANKLIN AVE W MINNEAPOLIS MN 55405	JCDMTC LLC	RESIDENTIAL-TWO UNIT	$625,900	173 ft

Property History

Most Recent Sale

Date201810

Price$285,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,951