3508 1ST AVE S MINNEAPOLIS MN 55408

PID: 0302824420126

Property Overview

Parcel ID0302824420126

Lot Size5,274 sq ft (0.121 ac)

Lot Dimensions (est.)125 ft wide × 42 ft deep

Year Built1912

Property ClassRESIDENTIAL

OwnerJENNA SELLS & JARED SELLS

Assessed Value$342,300

Land Value$89,000

Building Value$253,300

Annual Tax$5,079

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

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

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 width32 ft

Buildable depth86 ft

Area~2,738 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 2,738 sqft buildable area.

Est. units

Yield on cost

4.1%

Spread

-1.4%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3504 1ST AVE S MINNEAPOLIS MN 55408	M ROACH & K ROACH & T ROACH	RESIDENTIAL	$154,500	42 ft
3512 1ST AVE S MINNEAPOLIS MN 55408	L MITCHELL & G MITCHELL	RESIDENTIAL	$365,000	42 ft
3516 1ST AVE S MINNEAPOLIS MN 55408	MELROSE LLC	RESIDENTIAL	$386,000	84 ft
3500 1ST AVE S MINNEAPOLIS MN 55408	WILLIAM MERZ	APARTMENT	$617,000	87 ft
3520 1ST AVE S MINNEAPOLIS MN 55408	PAUL W FLING/KATHRYN L FLING	RESIDENTIAL	$429,000	126 ft
3509 NICOLLET AVE MINNEAPOLIS MN 55408	TED M MAZUREK	RESIDENTIAL	$328,400	137 ft
3515 NICOLLET AVE MINNEAPOLIS MN 55408	KELLY J DUZAN	RESIDENTIAL	$284,600	144 ft
3501 NICOLLET AVE MINNEAPOLIS MN 55408	ANICCA LLC	COMMERCIAL-PREFERRED	$685,000	152 ft
3517 NICOLLET AVE MINNEAPOLIS MN 55408	CHUMLONG MCLAIN	RESIDENTIAL	$273,900	161 ft
3524 1ST AVE S MINNEAPOLIS MN 55408	I GONZALES-MORENO ET AL	RESIDENTIAL	$249,100	168 ft

Property History

Most Recent Sale

Date202201

Price$348,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$5,079