3225 40TH AVE S MINNEAPOLIS MN 55406

PID: 0602823130054

Property Overview

Parcel ID0602823130054

Lot Size5,135 sq ft (0.118 ac)

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

Year Built1921

Property ClassRESIDENTIAL

OwnerS R SANDERS & K GRABAU

Assessed Value$312,000

Land Value$141,000

Building Value$171,000

Annual Tax$4,570

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

5 permits on record since 2018 · $23K total declared value · Most recent: Feb 2024 (remodel)

RemodelFeb 2024Closed

$5K

CENTAURI SYSTEMS LLC

MiscJul 2023Closed

$18K

KAUFMAN SHEET METAL ROOFING INC

ResOct 2022Closed

Norblom Plumbing Co

ExistresFeb 2019Closed

Standard Heating and Air Conditioning Inc

ExistresJun 2018Closed

LIFETIME RADON SOLUTIONS 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 depth88 ft

Area~2,650 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 2,650 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
3229 40TH AVE S MINNEAPOLIS MN 55406	ELLEN TANSEY	RESIDENTIAL	$368,000	40 ft
3221 40TH AVE S MINNEAPOLIS MN 55406	B EVESLAGE & J MEIDINGER	RESIDENTIAL	$470,900	40 ft
3235 40TH AVE S MINNEAPOLIS MN 55406	CITY/LAKES COMMUNITY LAND TR	—	$309,200	80 ft
3217 40TH AVE S MINNEAPOLIS MN 55406	MALLORY CHABRE/DUNCAN DAHL	RESIDENTIAL	$308,000	80 ft
3237 40TH AVE S MINNEAPOLIS MN 55406	CRAIG A RYMER ET AL	RESIDENTIAL	$322,000	120 ft
3215 40TH AVE S MINNEAPOLIS MN 55406	JANE G HENDERSON	RESIDENTIAL	$359,200	120 ft
3224 41ST AVE S MINNEAPOLIS MN 55406	KATHERINE D LAFORTUNE	RESIDENTIAL-TWO UNIT	$430,900	142 ft
3226 41ST AVE S MINNEAPOLIS MN 55406	MARIA G & ANDREW J DANSEY	RESIDENTIAL	$333,200	147 ft
3220 41ST AVE S MINNEAPOLIS MN 55406	KEITH R MAURER	RESIDENTIAL	$356,000	148 ft
3241 40TH AVE S MINNEAPOLIS MN 55406	G A SIMON & P M SIMON	RESIDENTIAL	$298,000	160 ft

Property History

Most Recent Sale

Date199910

Price$130,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,570