3015 40TH AVE S MINNEAPOLIS MN 55406

PID: 0602823120033

Property Overview

Parcel ID0602823120033

Lot Size5,134 sq ft (0.118 ac)

Lot Dimensions (est.)128 ft wide × 40 ft deep

Year Built1914

Property ClassRESIDENTIAL

OwnerG P WEIBEL & T L WEIBEL

Assessed Value$271,900

Land Value$144,000

Building Value$127,900

Annual Tax$4,281

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

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 depth88 ft

Area~2,649 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 2,649 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
3011 40TH AVE S MINNEAPOLIS MN 55406	C SCHISLER & S MCCULLOCH	RESIDENTIAL	$385,000	40 ft
3019 40TH AVE S MINNEAPOLIS MN 55406	BRADLEY CLIFTON WHITSITT	RESIDENTIAL	$326,700	40 ft
3023 40TH AVE S MINNEAPOLIS MN 55406	INNOCENT ONSONGO & RINAL RAY	RESIDENTIAL	$584,000	80 ft
3027 40TH AVE S MINNEAPOLIS MN 55406	BONNIE S G ESPLIE	RESIDENTIAL	$333,800	120 ft
4001 LAKE ST E MINNEAPOLIS MN 55406	4001 E LAKE STREET LLC	COMMERCIAL-PREFERRED	$463,000	125 ft
3012 41ST AVE S MINNEAPOLIS MN 55406	B D HIGBEE & K A VAN NELSON	RESIDENTIAL	$302,100	141 ft
4009 LAKE ST E MINNEAPOLIS MN 55406	7 OAKS LLC	COMMERCIAL-PREFERRED	$410,000	143 ft
3016 41ST AVE S MINNEAPOLIS MN 55406	LISA D GERARD	RESIDENTIAL	$292,500	147 ft
3008 41ST AVE S MINNEAPOLIS MN 55406	NORA POWERS/MERCEDES PLENDL	RESIDENTIAL	$338,400	148 ft
3031 40TH AVE S MINNEAPOLIS MN 55406	MELISSA A MACKIMM	RESIDENTIAL	$301,900	161 ft

Property History

Current Tax Year

Year2026

Tax Due$4,281