3401 40TH ST E MINNEAPOLIS MN 55406

PID: 0702823240085

Property Overview

Parcel ID0702823240085

Lot Size4,284 sq ft (0.098 ac)

Lot Dimensions (est.)89 ft wide × 48 ft deep

Year Built1914

Property ClassRESIDENTIAL

OwnerEVA NSEREKO

Assessed Value$244,800

Land Value$97,000

Building Value$147,800

Annual Tax$3,790

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

3 permits on record since 2017 · $5K total declared value · Most recent: Sep 2023 (res)

ResSep 2023Closed

CenterPoint Energy Resource Corp

RemodelOct 2019Closed

$2K

Eva Nsereko

MiscJun 2017Closed

$3K

WALKER ROOFING CO

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

Neighborhood Profile

Hiawatha · 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

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 width76 ft

Buildable depth8 ft

Area~1,728 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 1,728 sqft buildable area.

Est. units

Yield on cost

3.1%

Spread

-2.4%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3409 40TH ST E MINNEAPOLIS MN 55406	MICHAEL D PETROFSKI	RESIDENTIAL	$221,900	46 ft
4013 SNELLING AVE MINNEAPOLIS MN 55406	PATTI PRIBBENOW LIVING TRUST	RESIDENTIAL	$242,700	92 ft
3413 40TH ST E MINNEAPOLIS MN 55406	EMILY J CARDASSI	RESIDENTIAL	$162,800	102 ft
4017 SNELLING AVE MINNEAPOLIS MN 55406	Z T ECKHOFF & T M NEWBERRY	RESIDENTIAL	$326,500	126 ft
3963 SNELLING AVE MINNEAPOLIS MN 55406	RACHEL FINNES	RESIDENTIAL	$173,300	157 ft
3406 40TH ST E MINNEAPOLIS MN 55406	PAULA C FISCHER	RESIDENTIAL	$179,800	159 ft
4021 SNELLING AVE MINNEAPOLIS MN 55406	MEKO PROPERTIES LLC	RESIDENTIAL	$233,800	163 ft
3410 40TH ST E MINNEAPOLIS MN 55406	STEPHEN A PETERSON	RESIDENTIAL	$164,000	173 ft
4008 SNELLING AVE MINNEAPOLIS MN 55406	RYAN BALL	RESIDENTIAL	$315,400	174 ft
4004 SNELLING AVE MINNEAPOLIS MN 55406	CTW GROUP INCORPORATED	VACANT LAND-RESIDENTIAL	$115,000	178 ft

Property History

Most Recent Sale

Date201509

Price$167,500

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$3,790