3404 24TH AVE S MINNEAPOLIS MN 55406

PID: 0102824310094

Property Overview

Parcel ID0102824310094

Lot Size4,680 sq ft (0.107 ac)

Lot Dimensions (est.)86 ft wide × 55 ft deep

Year Built1949

Property ClassRESIDENTIAL

OwnerMARGARET E LAFFERTY

Assessed Value$259,100

Land Value$100,000

Building Value$159,100

Annual Tax$3,907

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 2017 · Most recent: Jan 2023 (res)

ResJan 2023Closed

CenterPoint Energy Resource Corp

ExistresJun 2020Closed

Standard Heating and Air Conditioning Inc

ResApr 2017Closed

Norblom Plumbing Co

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

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width44 ft

Buildable depth47 ft

Area~2,036 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 2,036 sqft buildable area.

Est. units

Yield on cost

3.5%

Spread

-2.0%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3400 24TH AVE S MINNEAPOLIS MN 55406	GERALD H FORNWALD	RESIDENTIAL	$235,000	48 ft
2321 34TH ST E MINNEAPOLIS MN 55406	COMMUNITY HOUSING RESOURCES	RESIDENTIAL	$0	66 ft
3408 24TH AVE S MINNEAPOLIS MN 55406	DANE MCFARLANE	RESIDENTIAL	$389,200	66 ft
2317 34TH ST E MINNEAPOLIS MN 55406	DAVID JALMER GUSTAFSON	RESIDENTIAL	$241,400	108 ft
3412 24TH AVE S MINNEAPOLIS MN 55406	CAROL J SCHWARTZ	RESIDENTIAL	$347,700	108 ft
3416 24TH AVE S MINNEAPOLIS MN 55406	D M UNG & S UNG	RESIDENTIAL	$321,900	154 ft
3344 24TH AVE S MINNEAPOLIS MN 55406	KAREN M SORMAN	RESIDENTIAL	$183,500	169 ft
2311 34TH ST E MINNEAPOLIS MN 55406	DEANN C H KAUTZMANN	RESIDENTIAL	$246,400	185 ft
3407 24TH AVE S MINNEAPOLIS MN 55406	A J PAGEL & L C WILHELM	RESIDENTIAL	$300,600	185 ft
3403 24TH AVE S MINNEAPOLIS MN 55406	KACIE PERRIZO/ANDREW PERRIZO	RESIDENTIAL	$292,600	185 ft

Property History

Most Recent Sale

Date200703

Price$179,900

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$3,907