3400 24TH AVE S MINNEAPOLIS MN 55406

PID: 0102824310093

Property Overview

Parcel ID0102824310093

Lot Size3,596 sq ft (0.083 ac)

Lot Dimensions (est.)86 ft wide × 42 ft deep

Year Built1949

Property ClassRESIDENTIAL

OwnerGERALD H FORNWALD

Assessed Value$235,000

Land Value$86,000

Building Value$149,000

Annual Tax$3,452

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

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 ↗

Potential programs

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 ↗

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

Permit History

3 permits on record since 2023 · $5K total declared value · Most recent: Jul 2025 (res)

ResJul 2025Closed

Warners Stellian Co Inc

MiscNov 2023Closed

$5K

NORTHRUP REMODELING

ResJan 2023Closed

CenterPoint Energy Resource Corp

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

Neighborhood Profile

Corcoran · Minneapolis

Median reported rent1,426/mo

Renter-occupied41.7%

Median home value$261K

Vacancy rate3.7%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1087

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

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 width73 ft

Buildable depth2 ft

Area~1,322 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 1,322 sqft buildable area.

Est. units

Yield on cost

2.7%

Spread

-2.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3404 24TH AVE S MINNEAPOLIS MN 55406	MARGARET E LAFFERTY	RESIDENTIAL	$259,100	48 ft
2321 34TH ST E MINNEAPOLIS MN 55406	COMMUNITY HOUSING RESOURCES	RESIDENTIAL	$0	68 ft
3408 24TH AVE S MINNEAPOLIS MN 55406	DANE MCFARLANE	RESIDENTIAL	$389,200	108 ft
2317 34TH ST E MINNEAPOLIS MN 55406	DAVID JALMER GUSTAFSON	RESIDENTIAL	$241,400	109 ft
3344 24TH AVE S MINNEAPOLIS MN 55406	KAREN M SORMAN	RESIDENTIAL	$183,500	121 ft
3412 24TH AVE S MINNEAPOLIS MN 55406	CAROL J SCHWARTZ	RESIDENTIAL	$347,700	153 ft
3340 24TH AVE S MINNEAPOLIS MN 55406	ROBERT LICARI	RESIDENTIAL	$387,700	160 ft
2311 34TH ST E MINNEAPOLIS MN 55406	DEANN C H KAUTZMANN	RESIDENTIAL	$246,400	180 ft
3401 24TH AVE S MINNEAPOLIS MN 55406	H NGUYEN & B HUYNH	RESIDENTIAL	$242,000	184 ft
3403 24TH AVE S MINNEAPOLIS MN 55406	KACIE PERRIZO/ANDREW PERRIZO	RESIDENTIAL	$292,600	186 ft

Property History

Most Recent Sale

Date200905

Price$71,440

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$3,452