3552 40TH AVE S MINNEAPOLIS MN 55406

PID: 0602823420159

Property Overview

Parcel ID0602823420159

Lot Size5,150 sq ft (0.118 ac)

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

Year Built1927

Property ClassRESIDENTIAL

OwnerALEXANDER ARTHUR FERNAN

Assessed Value$283,400

Land Value$142,000

Building Value$141,400

Annual Tax$4,092

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

4 permits on record since 2020 · $12K total declared value · Most recent: Dec 2023 (existres)

ExistresDec 2023Closed

Pronto Heating & Air Conditioning Inc

MiscNov 2023Closed

$12K

Clear Cut Xteriors LLC

ExistresFeb 2021Closed

STAFFORD HOME SERVICE

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 width115 ft

Buildable depth0 ft

Area~2,396 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 2,396 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3548 40TH AVE S MINNEAPOLIS MN 55406	MARY IFFERT	RESIDENTIAL	$324,400	40 ft
3544 40TH AVE S MINNEAPOLIS MN 55406	ADAM J DAKE ET AL	RESIDENTIAL	$367,700	79 ft
3600 40TH AVE S MINNEAPOLIS MN 55406	H & S IZEK	RESIDENTIAL	$243,300	106 ft
3540 40TH AVE S MINNEAPOLIS MN 55406	N E DRALLETTE & K E MARBLE	RESIDENTIAL	$254,100	119 ft
3555 39TH AVE S MINNEAPOLIS MN 55406	STEVEN J LOEDING	RESIDENTIAL	$422,200	142 ft
3551 39TH AVE S MINNEAPOLIS MN 55406	E HEPNER & J H HEPNER	RESIDENTIAL	$341,000	147 ft
3604 40TH AVE S MINNEAPOLIS MN 55406	J A SILER & D LANDEEN	RESIDENTIAL	$294,100	147 ft
3536 40TH AVE S MINNEAPOLIS MN 55406	DEBORAH K SODT	RESIDENTIAL	$335,400	158 ft
3547 39TH AVE S MINNEAPOLIS MN 55406	H M JOHNSON & C W BRAUNGER	RESIDENTIAL	$292,000	162 ft
3601 39TH AVE S MINNEAPOLIS MN 55406	MAXWELL H TONG	RESIDENTIAL	$376,300	178 ft

Property History

Most Recent Sale

Date202303

Price$290,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,092