3024 42ND AVE S MINNEAPOLIS MN 55406

PID: 0602823120021

Property Overview

Parcel ID0602823120021

Lot Size5,075 sq ft (0.116 ac)

Lot Dimensions (est.)126 ft wide × 40 ft deep

Year Built1908

Property ClassRESIDENTIAL

OwnerSHANNON E WELCH

Assessed Value$276,600

Land Value$136,000

Building Value$140,600

Annual Tax$3,977

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

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

7 permits on record since 2018 · $24K total declared value · Most recent: May 2026 (existres)

ExistresMay 2026Inspection

BOEHM HEATING

ResJun 2023Closed

CenterPoint Energy Resource Corp

MiscAug 2022Closed

$17K

MINNESOTA EXTERIORS INC

MiscMay 2021Closed

$7K

MINNESOTA EXTERIORS INC

ResJul 2020Closed

Warners Stellian Co Inc

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

Neighborhood Profile

Cooper · Minneapolis

Median reported rent1,309/mo

Renter-occupied16.5%

Median home value$339K

Vacancy rate5.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1076

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 width30 ft

Buildable depth87 ft

Area~2,604 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 2,604 sqft buildable area.

Est. units

Yield on cost

3.4%

Spread

-2.1%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3028 42ND AVE S MINNEAPOLIS MN 55406	MARY J JOHNSON TRUST	RESIDENTIAL	$327,700	40 ft
3020 42ND AVE S MINNEAPOLIS MN 55406	RENEE MARIE FARROW	RESIDENTIAL	$266,600	40 ft
3032 42ND AVE S MINNEAPOLIS MN 55406	WILLIAM KLEIN	RESIDENTIAL	$304,800	80 ft
3016 42ND AVE S MINNEAPOLIS MN 55406	MICHAEL A POLLEY/J M POLLEY	RESIDENTIAL	$296,600	80 ft
3038 42ND AVE S MINNEAPOLIS MN 55406	JOHN MEYER	RESIDENTIAL	$308,300	120 ft
3012 42ND AVE S MINNEAPOLIS MN 55406	SCOTT M ANDERSON	RESIDENTIAL-TWO UNIT	$315,400	120 ft
3025 41ST AVE S MINNEAPOLIS MN 55406	LISA URMAN	RESIDENTIAL	$278,600	140 ft
3023 41ST AVE S MINNEAPOLIS MN 55406	PETER DANBURY	RESIDENTIAL	$381,100	146 ft
3031 41ST AVE S MINNEAPOLIS MN 55406	JEAN OCKULY	RESIDENTIAL	$330,300	146 ft
3008 42ND AVE S MINNEAPOLIS MN 55406	ANTONINA S KATAYAMA	RESIDENTIAL	$304,200	160 ft

Property History

Most Recent Sale

Date198910

Price$64,900

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$3,977