4057 42ND AVE S MINNEAPOLIS MN 55406

PID: 0702823140106

Property Overview

Parcel ID0702823140106

Lot Size5,074 sq ft (0.116 ac)

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

Year Built1923

Property ClassRESIDENTIAL

OwnerM KORAB & C M KORAB

Assessed Value$448,000

Land Value$131,000

Building Value$317,000

Annual Tax$6,848

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

2 permits on record since 2014 · $64K total declared value · Most recent: Dec 2024 (remodel)

RemodelDec 2024Closed

$4K

MN Solar

Building Re-inspectionFeb 2014

$60K

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

Neighborhood Profile

Hiawatha · Minneapolis

Median reported rent1,554/mo

Renter-occupied38.8%

Median home value$306K

Vacancy rate5.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1105

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 width113 ft

Buildable depth0 ft

Area~2,345 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 2,345 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
4053 42ND AVE S MINNEAPOLIS MN 55406	THOMAS STEPHEN RUFFANER	RESIDENTIAL	$288,600	40 ft
4049 42ND AVE S MINNEAPOLIS MN 55406	JEREMY CHAIKIND	RESIDENTIAL	$394,700	80 ft
4101 42ND AVE S MINNEAPOLIS MN 55406	HDBNN PROPERTIES LLC	RESIDENTIAL-TWO UNIT	$767,000	96 ft
4045 42ND AVE S MINNEAPOLIS MN 55406	ELIZABETH A TANG	RESIDENTIAL	$288,800	120 ft
4105 42ND AVE S MINNEAPOLIS MN 55406	WILBER EDUARDO JARA ORTIZ	RESIDENTIAL	$263,700	132 ft
4224 41ST ST E MINNEAPOLIS MN 55406	R & R 41 LLC	COMMERCIAL-PREFERRED	$245,000	141 ft
4052 43RD AVE S MINNEAPOLIS MN 55406	ROSS JOHNSON	RESIDENTIAL	$168,000	146 ft
4041 42ND AVE S MINNEAPOLIS MN 55406	JILL PIANO	RESIDENTIAL	$212,000	160 ft
4048 43RD AVE S MINNEAPOLIS MN 55406	KATHLEEN M MOORE	RESIDENTIAL	$328,600	163 ft
4100 43RD AVE S MINNEAPOLIS MN 55406	ALISHA LAWSON	RESIDENTIAL	$349,700	169 ft

Property History

Most Recent Sale

Date201204

Price$165,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$6,848