3840 SNELLING AVE MINNEAPOLIS MN 55406

PID: 0702823220042

Property Overview

Parcel ID0702823220042

Lot Size6,010 sq ft (0.138 ac)

Lot Dimensions (est.)151 ft wide × 40 ft deep

Year Built0

Property ClassVACANT LAND-APARTMENT

OwnerJAMES R HIBEN

Assessed Value$96,000

Land Value$96,000

Building Value$0

Annual Tax$1,823

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

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 ↗

Potential programs

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

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 width141 ft

Buildable depth0 ft

Area~3,307 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 3-story wood frame (5–12 units) benchmarks for 3,307 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
3836 SNELLING AVE MINNEAPOLIS MN 55406	STEVEN TERESI/KATHRYN TERESI	RESIDENTIAL-TWO UNIT	$378,900	40 ft
3844 SNELLING AVE MINNEAPOLIS MN 55406	J R HIBEN & C E HIBEN	RESIDENTIAL-TWO UNIT	$369,400	40 ft
3832 SNELLING AVE MINNEAPOLIS MN 55406	R DROSTE & C WIENS	RESIDENTIAL	$300,200	80 ft
3848 SNELLING AVE MINNEAPOLIS MN 55406	THELMA BROWN	RESIDENTIAL	$219,300	80 ft
3828 SNELLING AVE MINNEAPOLIS MN 55406	ANDREW JON RUTT SANDS	RESIDENTIAL	$246,500	120 ft
3852 SNELLING AVE MINNEAPOLIS MN 55406	KYLE JOHNATHAN WAITES	RESIDENTIAL	$261,400	120 ft
3856 SNELLING AVE MINNEAPOLIS MN 55406	J KIDDOO & K KIDDOO	RESIDENTIAL	$272,900	159 ft
3824 SNELLING AVE MINNEAPOLIS MN 55406	JEREMY KANNE & JEAN CLIFFORD	RESIDENTIAL	$307,300	160 ft
3820 SNELLING AVE MINNEAPOLIS MN 55406	JAMES H OHMAN	RESIDENTIAL	$205,600	200 ft
3860 SNELLING AVE MINNEAPOLIS MN 55406	DAVID LEIN & ASHLI LANDA	RESIDENTIAL	$227,200	204 ft

Property History

Current Tax Year

Year2026

Tax Due$1,823