3501 37TH AVE S MINNEAPOLIS MN 55406

PID: 0602823310077

Property Overview

Parcel ID0602823310077

Lot Size5,092 sq ft (0.117 ac)

Lot Dimensions (est.)127 ft wide × 40 ft deep

Year Built1914

Property ClassRESIDENTIAL

OwnerARI KELLEY & KARA SPAFFORD

Assessed Value$323,000

Land Value$126,000

Building Value$197,000

Annual Tax$4,755

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

1 permit on record since 2020 · Most recent: Feb 2020 (res)

ResFeb 2020Closed

CenterPoint Energy Resource Corp

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

Neighborhood Profile

Howe · Minneapolis

Median reported rent1,217/mo

Renter-occupied9.9%

Median home value$292K

Vacancy rate0.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1089

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 width114 ft

Buildable depth0 ft

Area~2,357 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 2,357 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
3505 37TH AVE S MINNEAPOLIS MN 55406	J E CRANTS & V A ZAWISTOWSKI	RESIDENTIAL	$303,500	40 ft
3511 37TH AVE S MINNEAPOLIS MN 55406	J P ALLINDER TR ET AL	RESIDENTIAL	$301,700	80 ft
3515 37TH AVE S MINNEAPOLIS MN 55406	CATHY KOSKI	RESIDENTIAL	$291,100	120 ft
3500 38TH AVE S MINNEAPOLIS MN 55406	ALYSSA N WETZEL/NED W MOORE	RESIDENTIAL	$370,800	141 ft
3504 38TH AVE S MINNEAPOLIS MN 55406	TIMOTHY Q MCINDOO	RESIDENTIAL	$257,600	146 ft
3519 37TH AVE S MINNEAPOLIS MN 55406	RICHARD L ALM ETAL	RESIDENTIAL	$374,000	160 ft
3508 38TH AVE S MINNEAPOLIS MN 55406	ERIC P LUNDGREN	RESIDENTIAL	$276,300	161 ft
3512 38TH AVE S MINNEAPOLIS MN 55406	R G KARELS & J A RYAN-KARELS	RESIDENTIAL-TWO UNIT	$371,300	184 ft
3500 37TH AVE S MINNEAPOLIS MN 55406	XIANGJI CHEN & ZIFANG PAN	RESIDENTIAL	$306,700	187 ft
3504 37TH AVE S MINNEAPOLIS MN 55406	S A GRIMM & M ANDERSON	RESIDENTIAL	$364,100	192 ft

Property History

Most Recent Sale

Date202405

Price$335,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,755