3820 42ND AVE S MINNEAPOLIS MN 55406

PID: 0702823120005

Property Overview

Parcel ID0702823120005

Lot Size5,023 sq ft (0.115 ac)

Lot Dimensions (est.)125 ft wide × 40 ft deep

Year Built1960

Property ClassAPARTMENT

OwnerHIAWATHA HILLS LLC

Assessed Value$467,000

Land Value$80,000

Building Value$387,000

Annual Tax$8,869

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Howe · Minneapolis

Median reported rent1,127/mo

Renter-occupied37.3%

Median home value$308K

Vacancy rate0.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1104

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

UN3Urban Neighborhood 3

Urban Neighborhood 3 — medium-density residential

Typical Uses

·Apartment buildings
·Mixed-use with neighborhood retail

Max Height50 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width30 ft

Buildable depth86 ft

Area~2,566 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 2,566 sqft buildable area.

Est. units

Yield on cost

3.6%

Spread

-1.9%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3816 42ND AVE S MINNEAPOLIS MN 55406	CHARLOTTE A LILLA	RESIDENTIAL	$324,700	40 ft
3824 42ND AVE S MINNEAPOLIS MN 55406	KARLA NAGY & ZSOLT NAGY	RESIDENTIAL	$331,800	40 ft
3812 42ND AVE S MINNEAPOLIS MN 55406	LOREN S WILLIAMS	RESIDENTIAL	$305,000	80 ft
3828 42ND AVE S MINNEAPOLIS MN 55406	S A JOHNSON & J J JOHNSON	RESIDENTIAL	$333,000	80 ft
3808 42ND AVE S MINNEAPOLIS MN 55406	KOK-KONG LEE	RESIDENTIAL	$278,000	120 ft
3832 42ND AVE S MINNEAPOLIS MN 55406	ERIC WOJCHIK	RESIDENTIAL	$286,900	120 ft
3821 41ST AVE S MINNEAPOLIS MN 55406	LAURA A JENSEN	RESIDENTIAL	$253,700	141 ft
3817 41ST AVE S MINNEAPOLIS MN 55406	ANNA KRECH	RESIDENTIAL	$294,700	146 ft
3825 41ST AVE S MINNEAPOLIS MN 55406	CHAD J TIMM	RESIDENTIAL	$419,800	147 ft
3836 42ND AVE S MINNEAPOLIS MN 55406	ROSE M DAVIS	RESIDENTIAL-TWO UNIT	$351,900	160 ft

Property History

Most Recent Sale

Date202201

Price$530,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$8,869