3940 42ND AVE S MINNEAPOLIS MN 55406

PID: 0702823120215

Property Overview

Parcel ID0702823120215

Lot Size5,038 sq ft (0.116 ac)

Lot Dimensions (est.)126 ft wide × 40 ft deep

Year Built1959

Property ClassRESIDENTIAL-TWO UNIT

OwnerJOSEPH LEE

Assessed Value$416,000

Land Value$133,000

Building Value$283,000

Annual Tax$7,900

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

8 permits on record since 2017 · $11K total declared value · Most recent: Jul 2023 (res)

ResJul 2023Closed

CenterPoint Energy Resource Corp

ResJul 2023Closed

CenterPoint Energy Resource Corp

ExistresNov 2018Closed

GV Heating and Air Inc

ResMay 2018Closed

Linn Star Transfer Inc

ResMar 2018Closed

PAUL TEALE PLUMBING 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

UN2Urban Neighborhood 2

Urban Neighborhood 2 — moderate-density residential

Typical Uses

·Duplexes
·Triplexes
·Small apartment buildings (≤4 units)

Max Height35 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width30 ft

Buildable depth86 ft

Area~2,578 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 2,578 sqft buildable area.

Est. units

Yield on cost

3.5%

Spread

-2.0%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3936 42ND AVE S MINNEAPOLIS MN 55406	ERIN C WESTIN/PAUL S WESTIN	RESIDENTIAL	$388,500	40 ft
3944 42ND AVE S MINNEAPOLIS MN 55406	D S BUFFIE & S M BUFFIE	RESIDENTIAL	$280,400	40 ft
3932 42ND AVE S MINNEAPOLIS MN 55406	L R BURKE & M Q BURKE	RESIDENTIAL	$324,700	80 ft
3950 42ND AVE S MINNEAPOLIS MN 55406	NICHOLAS R WILLMS	RESIDENTIAL	$325,300	80 ft
3928 42ND AVE S MINNEAPOLIS MN 55406	LISA M COURNEYA	RESIDENTIAL	$285,700	120 ft
3952 42ND AVE S MINNEAPOLIS MN 55406	COOPER/MACAULAY LIVING TRUST	RESIDENTIAL	$466,500	120 ft
3941 41ST AVE S MINNEAPOLIS MN 55406	STEVEN T RETKA & SARA RETKA	RESIDENTIAL	$300,500	141 ft
3937 41ST AVE S MINNEAPOLIS MN 55406	JEAN M WIGGINS TRUST	RESIDENTIAL	$266,700	146 ft
3945 41ST AVE S MINNEAPOLIS MN 55406	G D MABEE & M M MABEE	RESIDENTIAL	$364,000	147 ft
3924 42ND AVE S MINNEAPOLIS MN 55406	D P PEACH & D K PEACH	RESIDENTIAL	$289,000	160 ft

Property History

Most Recent Sale

Date201612

Price$288,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$7,900