3631 1ST AVE S MINNEAPOLIS MN 55409

PID: 0302824430057

Property Overview

Parcel ID0302824430057

Lot Size4,920 sq ft (0.113 ac)

Lot Dimensions (est.)131 ft wide × 38 ft deep

Year Built1925

Property ClassRESIDENTIAL

OwnerE M LEE & C S ERICKSON

Assessed Value$311,400

Land Value$115,000

Building Value$196,400

Annual Tax$4,561

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

King Field · 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 55409

Median sale price$379K-21.6% YoY

Median price / sqft$218/sqft

Median days to close56 days

Active listings21

Source: Redfin Data Center (Invalid Date) · Zip 55409

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 width28 ft

Buildable depth89 ft

Area~2,508 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 2,508 sqft buildable area.

Est. units

Yield on cost

3.6%

Spread

-1.9%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3627 1ST AVE S MINNEAPOLIS MN 55409	BNKRS TRST CO/CA N.A. TRSTEE	RESIDENTIAL-TWO UNIT	$335,200	38 ft
3635 1ST AVE S MINNEAPOLIS MN 55409	JENNY INVESTMENTS LLC	LOW INCOME RENTAL	$534,000	50 ft
3625 1ST AVE S MINNEAPOLIS MN 55409	NICOLLET HOLDING LLC	RESIDENTIAL	$297,000	88 ft
3639 1ST AVE S MINNEAPOLIS MN 55409	WEST EDGE INVESTMENTS LLC	TRIPLEX	$314,700	106 ft
3621 1ST AVE S MINNEAPOLIS MN 55409	PETER K MCKOWN	RESIDENTIAL	$186,900	131 ft
3626 STEVENS AVE MINNEAPOLIS MN 55409	SHARI A MATZELLE LIVING TR	RESIDENTIAL-TWO UNIT	$417,900	144 ft
3632 STEVENS AVE MINNEAPOLIS MN 55409	ERIC HARVEY & LAUREN HARVEY	RESIDENTIAL	$284,400	145 ft
3624 STEVENS AVE MINNEAPOLIS MN 55409	DEVON LAMB & JESSICA LAMB	RESIDENTIAL	$560,000	156 ft
3636 STEVENS AVE MINNEAPOLIS MN 55409	THIEN NGUYEN	RESIDENTIAL	$179,000	156 ft
3619 1ST AVE S MINNEAPOLIS MN 55409	S N MILLER & K E MILLER	RESIDENTIAL	$329,100	157 ft

Property History

Most Recent Sale

Date202204

Price$287,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,561