3803 40TH AVE S MINNEAPOLIS MN 55406

PID: 0702823120057

Property Overview

Parcel ID0702823120057

Lot Size7,560 sq ft (0.174 ac)

Lot Dimensions (est.)128 ft wide × 59 ft deep

Year Built1902

Property ClassRESIDENTIAL

OwnerELIZABETH A LARSON ET AL

Assessed Value$359,200

Land Value$159,000

Building Value$200,200

Annual Tax$5,361

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

3 permits on record since 2019 · $16K total declared value · Most recent: Jul 2024 (misc)

MiscJul 2024Closed

$16K

KAUFMAN SHEET METAL ROOFING INC

ResJul 2023Closed

CenterPoint Energy Resource Corp

ExistresFeb 2019Closed

Airic's Heating & Air Conditioning Inc

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

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

RM1Residence Goods and Services

Residential Mixed-Use 1 — low-density mixed residential

Typical Uses

·Apartments
·Townhomes
·Neighborhood-scale retail on ground floor

Max Height45 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.)10 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width113 ft

Buildable depth19 ft

Area~3,878 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 3-story wood frame (5–12 units) benchmarks for 3,878 sqft buildable area.

Est. units

Yield on cost

4.0%

Spread

-1.5%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3809 40TH AVE S MINNEAPOLIS MN 55406	R L MCKINZIE & J H MCKINZIE	RESIDENTIAL	$253,600	59 ft
3815 40TH AVE S MINNEAPOLIS MN 55406	T O MEYER & K P WALSH	RESIDENTIAL	$334,000	109 ft
3739 40TH AVE S MINNEAPOLIS MN 55406	S J MARTENS & T M BARRIBALL	RESIDENTIAL	$331,500	121 ft
3800 41ST AVE S MINNEAPOLIS MN 55406	CARLOS A GUTIERREZ-HERNANDEZ	RESIDENTIAL	$325,100	143 ft
3804 41ST AVE S MINNEAPOLIS MN 55406	NICHOLAS WOLTERS/AMY THARP	RESIDENTIAL	$670,300	145 ft
3817 40TH AVE S MINNEAPOLIS MN 55406	E D SCHNEIDER & N SCHNEIDER	RESIDENTIAL	$374,200	150 ft
3808 41ST AVE S MINNEAPOLIS MN 55406	ZELMA LEANN LINDBERG	RESIDENTIAL	$598,400	157 ft
3733 40TH AVE S MINNEAPOLIS MN 55406	DEEA L GAILFUS	RESIDENTIAL	$362,300	173 ft
3812 41ST AVE S MINNEAPOLIS MN 55406	NEAL E CANON	RESIDENTIAL	$346,400	178 ft
3740 41ST AVE S MINNEAPOLIS MN 55406	STATE OF MINNESOTA	APARTMENT	$0	187 ft

Property History

Most Recent Sale

Date200507

Price$242,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$5,361