4032 37TH AVE S MINNEAPOLIS MN 55406

PID: 0702823240139

Property Overview

Parcel ID0702823240139

Lot Size5,066 sq ft (0.116 ac)

Lot Dimensions (est.)127 ft wide × 40 ft deep

Year Built1909

Property ClassTRIPLEX

OwnerLARRY O FLATEGRAFF & WIFE

Assessed Value$362,400

Land Value$125,000

Building Value$237,400

Annual Tax$6,882

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

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 ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

2 permits on record since 2023 · Most recent: Oct 2023 (res)

ResOct 2023Closed

CenterPoint Energy Resource Corp

ResOct 2023Closed

CenterPoint Energy Resource Corp

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

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width30 ft

Buildable depth87 ft

Area~2,603 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 2,603 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
4028 37TH AVE S MINNEAPOLIS MN 55406	PETER B SCHALWIG	RESIDENTIAL-TWO UNIT	$385,200	40 ft
4036 37TH AVE S MINNEAPOLIS MN 55406	DAVID M ROSEN/RACHEL C ROSEN	RESIDENTIAL	$298,400	40 ft
4024 37TH AVE S MINNEAPOLIS MN 55406	DAVID ENRRIGUE MICHEL	RESIDENTIAL	$307,500	80 ft
4040 37TH AVE S MINNEAPOLIS MN 55406	WALTER MENDEZ	RESIDENTIAL	$207,400	81 ft
4020 37TH AVE S MINNEAPOLIS MN 55406	MICHAEL P SCHULTE	RESIDENTIAL	$228,800	120 ft
4048 37TH AVE S MINNEAPOLIS MN 55406	GLENDA G COX	RESIDENTIAL	$190,500	122 ft
4027 MINNEHAHA AVE MINNEAPOLIS MN 55406	JORY M ISENHOWER	RESIDENTIAL	$257,400	138 ft
4031 MINNEHAHA AVE MINNEAPOLIS MN 55406	JEFF GRABAU	RESIDENTIAL	$213,300	141 ft
4029 36TH AVE S MINNEAPOLIS MN 55406	EDWARD JOHN CASEY	RESIDENTIAL	$134,000	145 ft
4031 36TH AVE S MINNEAPOLIS MN 55406	P B & K S GRIFFIN	RESIDENTIAL	$207,000	151 ft

Property History

Current Tax Year

Year2026

Tax Due$6,882