3301 40TH AVE S MINNEAPOLIS MN 55406

PID: 0602823130236

Property Overview

Parcel ID0602823130236

Lot Size5,029 sq ft (0.115 ac)

Lot Dimensions (est.)128 ft wide × 39 ft deep

Year Built1922

Property ClassRESIDENTIAL

OwnerS M & S A JOHNSTON JT LV TR

Assessed Value$329,400

Land Value$140,000

Building Value$189,400

Annual Tax$4,862

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

3 permits on record since 2023 · $16K total declared value · Most recent: Nov 2024 (existres)

ExistresNov 2024Closed

Standard Heating and Air Conditioning Inc

MiscSep 2023Closed

$16K

KAUFMAN SHEET METAL ROOFING INC

ResJan 2023Closed

CenterPoint Energy Resource Corp

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

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

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width115 ft

Buildable depth0 ft

Area~2,313 sqft

Lot dimensions are insufficient for the standard setbacks shown.

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 2,313 sqft buildable area.

Est. units

Yield on cost

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3305 40TH AVE S MINNEAPOLIS MN 55406	PAXTON COREY & SARAH COREY	RESIDENTIAL	$351,100	39 ft
3309 40TH AVE S MINNEAPOLIS MN 55406	MARY EILEEN KELLEY	RESIDENTIAL	$340,200	78 ft
3259 40TH AVE S MINNEAPOLIS MN 55406	MICHAEL SEELY/DEANNA MOELLER	RESIDENTIAL	$342,700	104 ft
3313 40TH AVE S MINNEAPOLIS MN 55406	J R CONKLIN & L L CONKLIN	RESIDENTIAL	$337,100	118 ft
3300 41ST AVE S MINNEAPOLIS MN 55406	CINCH PROPERTIES LLC	TRIPLEX	$338,000	142 ft
3251 40TH AVE S MINNEAPOLIS MN 55406	K A LATHAM & D D LATHAM	RESIDENTIAL	$388,500	143 ft
3304 41ST AVE S MINNEAPOLIS MN 55406	3304 41ST AVENUE S LLC	RESIDENTIAL-TWO UNIT	$395,400	147 ft
3317 40TH AVE S MINNEAPOLIS MN 55406	CHRISTINE K BOESE	RESIDENTIAL	$319,700	157 ft
3308 41ST AVE S MINNEAPOLIS MN 55406	SHELDON D SOLBRO & WIFE	RESIDENTIAL	$294,000	161 ft
3256 41ST AVE S MINNEAPOLIS MN 55406	L M STRONG & N B STRONG	RESIDENTIAL	$265,000	177 ft

Property History

Most Recent Sale

Date199303

Price$69,500

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$4,862