3427 1ST AVE S MINNEAPOLIS MN 55408

PID: 0302824420167

Property Overview

Parcel ID0302824420167

Lot Size5,413 sq ft (0.124 ac)

Lot Dimensions (est.)129 ft wide × 42 ft deep

Year Built1909

Property ClassRESIDENTIAL

OwnerSUE A SCHROEDER

Assessed Value$367,000

Land Value$84,000

Building Value$283,000

Annual Tax$5,492

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 2018 · $31K total declared value · Most recent: Oct 2023 (misc)

MiscOct 2023Closed

$20K

KAUFMAN SHEET METAL ROOFING INC

MiscDec 2022Closed

$5K

Minnesota Rusco Inc

RemodelAug 2018Closed

$7K

ALL ENERGY SOLAR 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 depth92 ft

Area~2,845 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 2,845 sqft buildable area.

Est. units

Yield on cost

3.9%

Spread

-1.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3431 1ST AVE S MINNEAPOLIS MN 55408	DANIELLE J CLASEMAN	RESIDENTIAL	$322,000	42 ft
3421 1ST AVE S MINNEAPOLIS MN 55408	DALE PAUL PETERSON	RESIDENTIAL-TWO UNIT	$376,600	43 ft
3419 1ST AVE S MINNEAPOLIS MN 55408	NOAH CHAN & ADELE DAHM	RESIDENTIAL	$312,300	81 ft
3435 1ST AVE S MINNEAPOLIS MN 55408	SHAUN BABCOCK	RESIDENTIAL-TWO UNIT	$369,300	83 ft
3417 1ST AVE S MINNEAPOLIS MN 55408	JOEL PETERSON	RESIDENTIAL	$258,200	116 ft
3439 1ST AVE S MINNEAPOLIS MN 55408	BRANNON IMAMURA	RESIDENTIAL	$276,300	124 ft
3424 STEVENS AVE MINNEAPOLIS MN 55408	ORIOLE JANKEN LLC	APARTMENT	$937,000	145 ft
3430 STEVENS AVE MINNEAPOLIS MN 55408	STAR MANAGEMENT LLC	TRIPLEX	$522,700	149 ft
3415 1ST AVE S MINNEAPOLIS MN 55408	J O D KING & R C KING	RESIDENTIAL-TWO UNIT	$332,900	153 ft
3436 STEVENS AVE MINNEAPOLIS MN 55408	JOHN THRONTON	TRIPLEX	$571,400	164 ft

Property History

Most Recent Sale

Date200601

Price$248,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$5,492