3420 FREMONT AVE S MINNEAPOLIS MN 55408

PID: 0402824420092

Property Overview

Parcel ID0402824420092

Lot Size5,416 sq ft (0.124 ac)

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

Year Built1923

Property ClassRESIDENTIAL-TWO UNIT

OwnerNORDIC LIGHT PROPERTIES LLC

Assessed Value$586,000

Land Value$196,000

Building Value$390,000

Annual Tax$11,129

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

4 permits on record since 2017 · $32K total declared value · Most recent: Jul 2022 (misc)

MiscJul 2022Closed

$21K

ALL ELEMENTS INC

MiscJul 2021Closed

$11K

Minnesota Rusco Inc

ResAug 2020Closed

Fineline Mechanical Services Inc

ExistresMay 2017Closed

CENTERPOINT ENERGY

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

Neighborhood Profile

South Uptown · Minneapolis

Median reported rent1,188/mo

Renter-occupied69.2%

Median home value$289K

Vacancy rate4.9%

ACS rents reflect current tenant leases and may differ from new market rents.

Source: 2022 ACS 5-Year Estimates · Census Tract 1092

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 depth89 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

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3416 FREMONT AVE S MINNEAPOLIS MN 55408	LOIS A STROMVALL	RESIDENTIAL-TWO UNIT	$554,500	42 ft
3424 FREMONT AVE S MINNEAPOLIS MN 55408	PATRICK J GARRY/DENISE GARRY	TRIPLEX	$573,000	42 ft
3412 FREMONT AVE S MINNEAPOLIS MN 55408	C BAKER & B SNAWDER	RESIDENTIAL	$491,000	84 ft
3428 FREMONT AVE S MINNEAPOLIS MN 55408	KATHERINE JUNE DOBIE	RESIDENTIAL	$409,700	84 ft
3408 FREMONT AVE S MINNEAPOLIS MN 55408	J J PETERSON & K M PETERSON	RESIDENTIAL	$402,800	126 ft
3432 FREMONT AVE S MINNEAPOLIS MN 55408	IVY APRIL HANSON	RESIDENTIAL	$453,400	126 ft
3421 GIRARD AVE S MINNEAPOLIS MN 55408	CCP PROPERTIES LLC	RESIDENTIAL-TWO UNIT	$585,000	140 ft
3425 GIRARD AVE S MINNEAPOLIS MN 55408	D J SEAL & K L SEAL	RESIDENTIAL-TWO UNIT	$574,800	147 ft
3417 GIRARD AVE S MINNEAPOLIS MN 55408	THOMAS C GALLAGHER	RESIDENTIAL-TWO UNIT	$533,200	147 ft
3413 GIRARD AVE S MINNEAPOLIS MN 55408	HENGXI YANG & LIANG GONG	RESIDENTIAL-TWO UNIT	$637,700	163 ft

Property History

Most Recent Sale

Date202012

Price$565,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$11,129