4228 32ND AVE S MINNEAPOLIS MN 55406

PID: 0702823320007

Property Overview

Parcel ID0702823320007

Lot Size5,593 sq ft (0.128 ac)

Lot Dimensions (est.)140 ft wide × 40 ft deep

Year Built1926

Property ClassRESIDENTIAL

OwnerA GUNDERSON & T FAST

Assessed Value$312,000

Land Value$148,000

Building Value$164,000

Annual Tax$4,553

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 ↗

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

2 permits on record since 2022 · Most recent: Nov 2025 (existres)

ExistresNov 2025Closed

K & S Heating Air Conditioning & Plumbing Inc

ResMay 2022Closed

CenterPoint Energy Resource Corp

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

Neighborhood Profile

Ericsson · Minneapolis

Median reported rent1,733/mo

Renter-occupied14.2%

Median home value$372K

Vacancy rate2.6%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1111

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 depth100 ft

Area~2,994 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 2,994 sqft buildable area.

Est. units

Yield on cost

3.6%

Spread

-1.9%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
4224 32ND AVE S MINNEAPOLIS MN 55406	LAWRENCE J KUIPER	RESIDENTIAL	$282,300	40 ft
4232 32ND AVE S MINNEAPOLIS MN 55406	JOSEPH DIMLER	RESIDENTIAL	$340,700	40 ft
4220 32ND AVE S MINNEAPOLIS MN 55406	ZEHUA LIU & Y PAUL SUSSMAN	RESIDENTIAL	$377,000	80 ft
4234 32ND AVE S MINNEAPOLIS MN 55406	KRISTIN M SORENSEN	RESIDENTIAL	$228,200	80 ft
4216 32ND AVE S MINNEAPOLIS MN 55406	LINDA K RANDERS	RESIDENTIAL	$299,000	120 ft
4238 32ND AVE S MINNEAPOLIS MN 55406	AMY ARLEN COUGHLIN	RESIDENTIAL	$333,000	120 ft
4227 31ST AVE S MINNEAPOLIS MN 55406	ERICA HAUGEN & ADAM GLATZL	RESIDENTIAL	$349,800	153 ft
4223 31ST AVE S MINNEAPOLIS MN 55406	DANIEL HINZE/ANWEN PARROTT	RESIDENTIAL	$310,000	158 ft
4231 31ST AVE S MINNEAPOLIS MN 55406	JOHN R MC NAMARA	RESIDENTIAL	$190,700	159 ft
4212 32ND AVE S MINNEAPOLIS MN 55406	THANG DAC HO, DAM THI NGUYEN	RESIDENTIAL	$250,000	160 ft

Property History

Most Recent Sale

Date202102

Price$280,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,553