3608 1ST AVE S MINNEAPOLIS MN 55409

PID: 0302824430071

Property Overview

Parcel ID0302824430071

Lot Size3,148 sq ft (0.072 ac)

Lot Dimensions (est.)126 ft wide × 25 ft deep

Year Built1909

Property ClassRESIDENTIAL

OwnerHONEY MARIE PENA

Assessed Value$184,400

Land Value$90,000

Building Value$94,400

Annual Tax$2,855

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

1 permit on record since 2021 · Most recent: Mar 2021 (res)

ResMar 2021Closed

CenterPoint Energy Resource Corp

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

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 width15 ft

Buildable depth86 ft

Area~1,289 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 1,289 sqft buildable area.

Est. units

Yield on cost

2.7%

Spread

-2.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3610 1ST AVE S MINNEAPOLIS MN 55409	J RAMIREZ & R RAMIREZ-CORTES	RESIDENTIAL-TWO UNIT	$299,500	28 ft
3604 1ST AVE S MINNEAPOLIS MN 55409	EDWIN R QUIZHPI-CUZCO	RESIDENTIAL-TWO UNIT	$431,200	37 ft
3614 1ST AVE S MINNEAPOLIS MN 55409	LILLIAN M ROVICK	RESIDENTIAL-TWO UNIT	$354,900	65 ft
3600 1ST AVE S MINNEAPOLIS MN 55409	ANDREW SCOTT & LISA SCOTT	RESIDENTIAL-TWO UNIT	$373,200	88 ft
3616 1ST AVE S MINNEAPOLIS MN 55409	VICTORIA MAYO PENA	RESIDENTIAL	$216,600	100 ft
3618 1ST AVE S MINNEAPOLIS MN 55409	SAEID NADIMI	RESIDENTIAL	$334,100	125 ft
3609 NICOLLET AVE MINNEAPOLIS MN 55409	TRUYEN MINH NGUYEN	COMMERCIAL-PREFERRED	$625,000	138 ft
3613 NICOLLET AVE MINNEAPOLIS MN 55409	MADISON AVE HOMES LLC	LOW INCOME RENTAL	$190,300	147 ft
3601 NICOLLET AVE MINNEAPOLIS MN 55409	DC NICOLLET DEVELOPMENT LLC	LOW INCOME RENTAL	$7,000,000	151 ft
3615 NICOLLET AVE MINNEAPOLIS MN 55409	MICHAEL WILEY	RESIDENTIAL	$120,000	157 ft

Property History

Current Tax Year

Year2026

Tax Due$2,855