3038 40TH AVE S MINNEAPOLIS MN 55406

PID: 0602823120065

Property Overview

Parcel ID0602823120065

Lot Size5,148 sq ft (0.118 ac)

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

Year Built1913

Property ClassRESIDENTIAL

OwnerE A SPOLYAR & S G EAST

Assessed Value$406,100

Land Value$144,000

Building Value$262,100

Annual Tax$6,291

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

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

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 depth89 ft

Area~2,660 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 2,660 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
3034 40TH AVE S MINNEAPOLIS MN 55406	LYDIA A WYATT	RESIDENTIAL	$265,900	40 ft
3042 40TH AVE S MINNEAPOLIS MN 55406	M E & P M KAPLAN	RESIDENTIAL-TWO UNIT	$504,600	41 ft
3030 40TH AVE S MINNEAPOLIS MN 55406	E S O'BRIEN & P S O'BRIEN	RESIDENTIAL	$363,800	80 ft
3026 40TH AVE S MINNEAPOLIS MN 55406	JENNIFER A & PAUL M HABERMAN	RESIDENTIAL	$346,100	120 ft
3039 39TH AVE S MINNEAPOLIS MN 55406	KEITH A WHITE LIVING TRUST	RESIDENTIAL	$333,300	142 ft
3035 39TH AVE S MINNEAPOLIS MN 55406	A BOUTROUS & D BOUTROUS	RESIDENTIAL-TWO UNIT	$385,300	148 ft
3043 39TH AVE S MINNEAPOLIS MN 55406	KENNETH W TOMLINSON	RESIDENTIAL	$260,500	148 ft
3100 40TH AVE S MINNEAPOLIS MN 55406	GENE D DELANO	RESIDENTIAL	$294,600	151 ft
3022 40TH AVE S MINNEAPOLIS MN 55406	J LUTZ & L W MURRAY	RESIDENTIAL	$307,100	160 ft
3031 39TH AVE S MINNEAPOLIS MN 55406	R P SCHAEPE & V R GALBREATH	RESIDENTIAL	$309,200	163 ft

Property History

Most Recent Sale

Date198910

Price$82,150

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$6,291