3544 1ST AVE S MINNEAPOLIS MN 55408

PID: 0302824420101

Property Overview

Parcel ID0302824420101

Lot Size5,154 sq ft (0.118 ac)

Lot Dimensions (est.)125 ft wide × 41 ft deep

Year Built1915

Property ClassRESIDENTIAL-TWO UNIT

OwnerJOE HOFFMAN

Assessed Value$346,100

Land Value$88,000

Building Value$258,100

Annual Tax$6,572

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

2 permits on record since 2025 · Most recent: Feb 2025 (res)

ResFeb 2025Inspection

Ryan Plumbing And Heating Co

ExistresJan 2025Inspection

The Snelling Co Inc

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

Neighborhood Profile

Lyndale · Minneapolis

Median reported rent1,194/mo

Renter-occupied53.6%

Median home value$326K

Vacancy rate10.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1093

Market Snapshot

Zip code 55408

Median sale price$390K+6.8% YoY

Median price / sqft$243/sqft

Median days to close62 days

Active listings73

Source: Redfin Data Center (Invalid Date) · Zip 55408

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 width31 ft

Buildable depth86 ft

Area~2,656 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 2,656 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
3540 1ST AVE S MINNEAPOLIS MN 55408	MICHAEL DIAZ & INGELMAN DIAZ	RESIDENTIAL-TWO UNIT	$350,700	41 ft
3548 1ST AVE S MINNEAPOLIS MN 55408	COMMUNITY HOUSING RESOURCES	RESIDENTIAL	$0	41 ft
3536 1ST AVE S MINNEAPOLIS MN 55408	D BEARD & T KELLY	RESIDENTIAL	$330,400	82 ft
3552 1ST AVE S MINNEAPOLIS MN 55408	RRE VENTURES LLC	RESIDENTIAL	$253,000	82 ft
3532 1ST AVE S MINNEAPOLIS MN 55408	K H REINFELD & P A REINFELD	RESIDENTIAL	$297,800	123 ft
3545 NICOLLET AVE MINNEAPOLIS MN 55408	AMERCO REAL ESTATE COMPANY	COMMERCIAL-PREFERRED	$577,500	139 ft
100 36TH ST E MINNEAPOLIS MN 55408	JASON M & CHRISTA S ERNO	RESIDENTIAL	$156,000	156 ft
3537 NICOLLET AVE MINNEAPOLIS MN 55408	LYNDALE NGHBRHD ASSOC	RESIDENTIAL	$208,600	159 ft
3528 1ST AVE S MINNEAPOLIS MN 55408	OWEN P JUSTICE	RESIDENTIAL	$405,700	165 ft
3533 NICOLLET AVE MINNEAPOLIS MN 55408	FRIDA DOUGLASS	RESIDENTIAL-TWO UNIT	$315,000	184 ft

Property History

Most Recent Sale

Date202201

Price$235,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$6,572