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2518 3rd Street Northeast

2518 3rd Street Northeast, Minneapolis, MN 55418
Multifamily in Marshall Terrace
1 Units For Sale
Unit for sale at 2518 3rd Street NE, Minneapolis, MN 55418

$380,000

  • Loft
  • 2,753 ft²
2518 3rd Street NE, Minneapolis, MN 55418 Listing by Richard S Webb

2518 3rd Street Northeast in Minneapolis, MN was first built in 1927 and is 97 years old. This has been categorized as a residential property type. For those interested in architecture, the building on the property was built in a duplex style. There are a total of 2 floors. There are a total of 8 rooms in the home, of which, 3 are bedrooms. In terms of bathrooms, there are a total of 2 full bathrooms. There are 2 partial bathrooms. 2518 3rd Street Northeast has 1,665 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. The linear feet across the front of the lot is 460 ft and the linear feet between the front and back of the lot is 1,580. In total, the area measurement of the land is 7,405 square feet.

Learn more about the property and building on this page. There is a porch. The home has a gable style roof made of asphalt. For those who need parking, there is a detached garage. There are a total of 2 available parking spaces. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with wood control joints. The quality of the control joints have been graded by the local assessor with a letter grade of C. The condition of the building has been evaluated as average. The exterior walls of the home are made of stucco. As for heating, the home is utilizing a gravity heating system. Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users. Based on our sources, 2518 3rd Street Northeast was last sold in Oct 5, 2023 for $371,000. According to our calculations, that's $222.82 per sqft. Prior to that sales transaction, the property was sold for $268,000 in Dec 18, 2019. Current property owners are expected to pay $4,951 in taxes per year. The property on 2518 3rd Street Northeast was last assessed in 2022. As a result of that assessment, the total value of the property was placed at $307,500. To break that down further, the land itself was valued at $116,000. While improvements to the property were assessed at a total of $191,500. Based on our records, the total market value for this property has been marked the same as the total assessed value as of this moment. Which is nothing out of the ordinary. If possible, try to put down at least 20% towards the down payment during your home purchasing process. While you may be able to buy a home with less than a 20% down payment, your lender may then require you to pay for a private mortgage insurance (PMI). PMI protects the lenders and lowers their financial risk in case the borrower defaults. Generally, you'll need to pay more PMI when your total loan amount is higher. However, certain factor such as your credit score, loan type, loan term, and loan-to-value ratio can all impact your PMI as well.

Building Features

Exterior

Brick Exterior Stone Exterior Stucco Exterior

Parking

Detached Garage
This property description is generated based on publicly available data.

1 Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By
20190712
07/12/2019
3 Bed
2 Bath
2006 ft²
$294,900
bedrooms
3 Bed
bathrooms
2 Bath
square feet
2006 ft²
$268,000 -9.12%
01/02/2020
Renee Wilson

Building Info

Overview

    General

  • Year Built: 1927
  • Effective Year Built: 1927
  • Total Rooms: 8
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: Average
  • Building Quality: C
  • Construction Type: Wood
  • Building Style: Duplex
  • Exterior Walls Type: Stucco
  • Roof Shape Type: Gable
  • Roof Cover Type: Asphalt
  • Floor Count: 2
  • Basement Type: Unspecified basement
  • Basement Area: 1,088
  • Garage Type: Detached
  • Parking Space Count: 2
  • Porch Type: Porch

    Dimensions

  • Lot Size Square Feet: 7,405
  • Lot Size Depth Feet: 1,580
  • Lot Size Frontage Feet: 460
  • Total Building Area: 1,665
  • Gross Building Area: 1,665
  • Building Area: 1,665
  • Building Area Measurement: Total Area

    Heating and Cooling

  • Air Conditioning: unknown
  • Heating: Gravity
  • Heated Square Feet: 1,665
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: B S WRIGHTS ADDN TO MPLS
  • Land Acres: 0.17
  • Standard Land Use Code: Duplex (2 units, any combination)
  • Legal Description 1: 009 012 B S WRIGHTS ADDN TO MPLS 46 X 157.72

Ownership

  • Current Owner : THOMAS KEVIN
  • Previous Owner : IAN D SCHWARTZ REVOCABLE TRUST
  • Owner Before Previous Owner: LIPETZKY MICHAEL J
  • Owner Before Previous Owner 2: LIPETZKY AMY N
  • Is Owner Occupied: Owner-occupied property

Neighborhood

  • School District Name: Minneapolis Public School District
  • School Tax School District: MINNEAPOLIS
  • Census Tract: 100500

Zoning

  • Zoning: R2B

Geography

  • Assessors Map Reference: MB:05660
  • District: 01
  • Parcel: 11-029-24-23-0092
  • Block: 12
  • Lot: 9
  • Meridian: SEC 11 QTR 23 TWN 029 RNG 24
  • Municipality: MINNEAPOLIS
  • Latitude: 45.0139
  • Longitude: -93.265

    Address

  • Full Address: 2518 3rd St Ne
  • Address - House Number: 2518
  • Street Segment Direction: NE
  • Address - Street Name: 3rd
  • Address - Suffix Type: St
  • State: MN
  • City Name: Minneapolis
  • Carrier Code: C023
  • 4-Digit Zip Code: 3429
  • Zip Code: 55418

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $4,951

    Appraisal Valuation

  • Standard Deviation: 0.0879
  • Valuation Date: Oct 25, 2023
  • Confidence Score: 92
  • Final Value: 378,947
  • High Value: 412,274
  • Low Value: 345,620

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $374,099
  • First Open Lien Mortgage Lender: NEW AMERICAN FUNDING
  • First Open Lien Mortgage Recording Date: Oct 18, 2023
  • First Open Lien Mortgage Loan Amount: $374,099
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: FHA
  • First Open Lien Mortgage Loan Due Date: Nov 01, 2053

    Market Valuation

  • Market Total Value: $307,500
  • Market Land Value: $116,000
  • Market Improvement Value: $191,500

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $307,500
  • Assessed Land Value: $116,000
  • Assessed Improvements Value: $191,500

    Sales

  • Current Sale Contract Date: Oct 05, 2023
  • Current Sale Recording Date: Oct 18, 2023
  • Current Sale Transaction ID: 11915160023
  • Current Sale Price: $371,000
  • Current Sale Document Type: Deed
  • Current Sale Input Document Number: 11238991
  • Previous Sale Recording Date: Jan 02, 2020
  • Previous Sale Contract Date: Dec 18, 2019
  • Previous Sale Amount: $268,000
  • Previous Sale Document Type: Warranty Deed

    Last Sale Mortgage

  • First Mortgage Lender: NEW AMERICAN FUNDING
  • First Mortgage Transaction Date: Oct 18, 2023
  • First Mortgage Loan Amount: $374,099
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: FHA
  • First Mortgage Loan Due Date: Nov 01, 2053

    Previous Mortgages

  • Previous Mortgage Lender: FRANDSEN BANK & TRUST
  • Previous Mortgage Transaction Date: Jan 02, 2020
  • Previous Mortgage Financing Type: Adjustable Rate
  • Previous Mortgage Loan Amount: $214,400
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: New Conventional
  • Previous Mortgage Loan Due Date: Jan 01, 2050

About Northeast Minneapolis



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Frequently Asked Questions

What neighborhood is 2518 3rd Street Northeast located in?
The 2518 3rd Street Northeast is a multifamily located in the neighborhood of Marshall Terrace in Northeast Minneapolis, Minneapolis.
How many listings are currently for sale in 2518 3rd Street Northeast?
There is a listing currently on the market for sale.
What is the average sales price for listings in 2518 3rd Street Northeast?
The average sales price for units in 2518 3rd Street Northeast is $294,900 , or $147/sqft. currently.

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