3501 1ST AVE S MINNEAPOLIS MN 55408

PID: 0302824420153

Property Overview

Parcel ID0302824420153

Lot Size3,836 sq ft (0.088 ac)

Lot Dimensions (est.)130 ft wide × 29 ft deep

Year Built1893

Property ClassRESIDENTIAL-TWO UNIT

OwnerLANDMARK COMMUNITY BANK N A

Assessed Value$269,600

Land Value$63,000

Building Value$206,600

Annual Tax$4,178

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

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

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 width117 ft

Buildable depth0 ft

Area~1,484 sqft

Lot dimensions are insufficient for the standard setbacks shown.

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 1,484 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3505 1ST AVE S MINNEAPOLIS MN 55408	RUFUS S CARSON III ET AL	RESIDENTIAL	$387,000	45 ft
3509 1ST AVE S MINNEAPOLIS MN 55408	K E LIDLE & C MATTHIAS	RESIDENTIAL	$377,000	96 ft
3449 1ST AVE S MINNEAPOLIS MN 55408	MATEUSZ TROICKI & M TROICKI	RESIDENTIAL-TWO UNIT	$313,900	97 ft
115 35TH ST E MINNEAPOLIS MN 55408	ROBERTO ONOFRE ESPINOZA	RESIDENTIAL	$219,700	100 ft
3515 1ST AVE S MINNEAPOLIS MN 55408	J AND D APARTMENTS LLC	RESIDENTIAL-TWO UNIT	$392,400	138 ft
3504 STEVENS AVE MINNEAPOLIS MN 55408	JAGNARINE SINGH & S SINGH	RESIDENTIAL	$356,000	152 ft
118 35TH ST E MINNEAPOLIS MN 55408	ABDON MESIAS RIVERA RIVERA	RESIDENTIAL	$339,200	155 ft
3441 1ST AVE S MINNEAPOLIS MN 55408	OLGA TYMOUCH	CONDOMINIUM	$314,000	160 ft
3443 1ST AVE S MINNEAPOLIS MN 55408	NATHAN VOSS	CONDOMINIUM	$295,000	160 ft
3445 1ST AVE S MINNEAPOLIS MN 55408	NANCY YOUNAN/ANDREW BESHARA	CONDOMINIUM	$301,000	160 ft

Property History

Most Recent Sale

Date201212

Price$127,000

TypeCONTRACT FOR DEED

Current Tax Year

Year2026

Tax Due$4,178