3416 PARK TER MINNEAPOLIS MN 55406

PID: 0502823320068

Property Overview

Parcel ID0502823320068

Lot Size4,900 sq ft (0.112 ac)

Lot Dimensions (est.)107 ft wide × 46 ft deep

Year Built1935

Property ClassRESIDENTIAL

OwnerSTEVEN VINGE & CAROLE BROAD

Assessed Value$479,300

Land Value$263,000

Building Value$216,300

Annual Tax$7,372

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

5 permits on record since 2019 · $72K total declared value · Most recent: Jun 2024 (misc)

MiscJun 2024Closed

$10K

SIGNATURE HOME SERVICES LLC

RemodelJun 2021Closed

$21K

PAUL POPE BUILDERS LLC

ResSep 2020Closed

Johnson Plumbing and Heating Co

RemodelAug 2020Closed

$39K

PAUL POPE BUILDERS LLC

RemodelJan 2019Closed

$3K

AFFORDABLE EGRESS WINDOWS & BASEMENT WATERPROOFI

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

Neighborhood Profile

Howe · Minneapolis

Median reported rent984/mo

Renter-occupied4.6%

Median home value$373K

Vacancy rate0.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1090

Market Snapshot

Zip code 55406

Median sale price$340K+3.0% YoY

Median price / sqft$248/sqft

Median days to close21 days

Active listings39

Source: Redfin Data Center (Invalid Date) · Zip 55406

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 width42 ft

Buildable depth54 ft

Area~2,295 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 2,295 sqft buildable area.

Est. units

Yield on cost

3.5%

Spread

-2.0%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3412 PARK TER MINNEAPOLIS MN 55406	KARINA QUEVEDO	RESIDENTIAL	$473,900	50 ft
3420 PARK TER MINNEAPOLIS MN 55406	RYAN SCHEIFE & JULIE Z FORTE	RESIDENTIAL	$642,200	52 ft
3417 46TH AVE S MINNEAPOLIS MN 55406	P J HANSEN & M C HANSEN	RESIDENTIAL	$473,000	98 ft
3408 PARK TER MINNEAPOLIS MN 55406	M C PLANTE & J R TOWNSEND	RESIDENTIAL	$538,900	101 ft
3424 PARK TER MINNEAPOLIS MN 55406	PETER HUCKFELDT ET AL	RESIDENTIAL	$560,800	104 ft
3421 46TH AVE S MINNEAPOLIS MN 55406	C M LITTLE & S LEE	RESIDENTIAL	$460,700	108 ft
3415 46TH AVE S MINNEAPOLIS MN 55406	E RONNING & C HJELMBERG	RESIDENTIAL	$384,000	111 ft
3425 46TH AVE S MINNEAPOLIS MN 55406	R B MCMASTER & S A MCMASTER	RESIDENTIAL	$517,300	131 ft
3409 46TH AVE S MINNEAPOLIS MN 55406	MICHELE M MURPHY TRUST	RESIDENTIAL	$465,700	141 ft
3428 PARK TER MINNEAPOLIS MN 55406	SECOND STRIPE LLC	RESIDENTIAL	$401,600	143 ft

Property History

Most Recent Sale

Date201709

Price$431,750

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$7,372