2223 12TH AVE S MINNEAPOLIS MN 55404

PID: 3502924120192

Property Overview

Parcel ID3502924120192

Lot Size6,456 sq ft (0.148 ac)

Lot Dimensions (est.)70 ft wide × 93 ft deep

Year Built1986

Property ClassRESIDENTIAL-ZERO LOT LINE

OwnerT D F BERZAT ETAL SUBJ/LE

Assessed Value$252,300

Land Value$44,000

Building Value$208,300

Annual Tax$3,572

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Opportunity ZoneHigh

Within a federally designated Qualified Opportunity Zone — investors may qualify for capital gains deferrals via a Qualified Opportunity Fund.

HUD Opportunity Zones ↗

Green Zone — SouthHigh

Located in the Minneapolis South Green Zone — priority access to Great Streets financing, energy cost-share programs, and CPED gap financing.

Minneapolis Green Zones ↗

High-Frequency Transit (5-min walk)High

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 ↗

Area of Concentrated PovertyHigh

In an ACP50 area — a Minneapolis priority designation that increases scoring for Great Streets gap financing, Affordable Housing Trust Fund, and other CPED programs.

Minneapolis — Affordable Housing Trust Fund ↗

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

Great Streets Gap FinancingMedium

Below-market loans for commercial real estate development and rehabilitation on eligible corridors; priority given to Green Zone and ACP50 locations.

Minneapolis Great Streets — Gap Financing ↗

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 ↗

Met Council Livable Communities GrantMedium

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 ↗

Environmental Response FundMedium

Grants and loans for contamination assessment and cleanup on eligible redevelopment sites; does not indicate known contamination.

Minneapolis — Brownfield Grants ↗

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

Permit History

3 permits on record since 2021 · $15K total declared value · Most recent: Nov 2022 (existres)

ExistresNov 2022Closed

Ray N Welter Heating Co

MiscOct 2022Closed

$15K

Roof Ninja Services

ResMar 2021Closed

Warners Stellian Co Inc

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

Neighborhood Profile

Ventura Village · Minneapolis

Median reported rent825/mo

Renter-occupied90.5%

Median home value$262K

Vacancy rate14.2%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1060

Market Snapshot

Zip code 55404

Median sale price$306K+16.4% YoY

Median price / sqft$167/sqft

Median days to close92 days

Active listings57

Source: Redfin Data Center (Invalid Date) · Zip 55404

Zoning

UN2Urban Neighborhood 2

Urban Neighborhood 2 — moderate-density residential

Typical Uses

·Duplexes
·Triplexes
·Small apartment buildings (≤4 units)

Max Height35 ft

Development Potential

Estimated · verify frontage

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 width57 ft

Buildable depth53 ft

Area~3,369 sqft

Corner-lot envelopes may require contextual setback review and should be treated as planning estimates.

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 3,369 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
2221 12TH AVE S MINNEAPOLIS MN 55404	M A POINDEXTER & M A CARTER	RESIDENTIAL-ZERO LOT LINE	$221,300	59 ft
2223 11TH AVE S MINNEAPOLIS MN 55404	D B PAUL & M K PAUL	RESIDENTIAL-ZERO LOT LINE	$250,500	107 ft
2221 11TH AVE S MINNEAPOLIS MN 55404	RUDY MO MONOPOLY R/E LLC	RESIDENTIAL-ZERO LOT LINE	$254,500	107 ft
2217 11TH AVE S MINNEAPOLIS MN 55404	BELGIE ARGAW YIMER	RESIDENTIAL-ZERO LOT LINE	$247,800	109 ft
2217 12TH AVE S MINNEAPOLIS MN 55404	LUCIA VASQUEZ-REYES	RESIDENTIAL-ZERO LOT LINE	$236,100	113 ft
2215 11TH AVE S MINNEAPOLIS MN 55404	KAFI BARRE & AHMED ABDI	RESIDENTIAL-ZERO LOT LINE	$252,200	118 ft
2301 11TH AVE S MINNEAPOLIS MN 55404	DAVID HODGES	RESIDENTIAL-ZERO LOT LINE	$252,400	119 ft
2215 12TH AVE S MINNEAPOLIS MN 55404	ESTHER R SCHAK	RESIDENTIAL-ZERO LOT LINE	$245,000	135 ft
2211 11TH AVE S MINNEAPOLIS MN 55404	ASHA ARNEJA	RESIDENTIAL-ZERO LOT LINE	$242,700	137 ft
2303 11TH AVE S MINNEAPOLIS MN 55404	JACOB PROPERTIES CORPORATION	RESIDENTIAL-ZERO LOT LINE	$257,500	143 ft

Property History

Most Recent Sale

Date200002

Price$75,500

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$3,572