4300 40TH AVE S MINNEAPOLIS MN 55406

PID: 0702823420190

Property Overview

Parcel ID0702823420190

Lot Size5,119 sq ft (0.118 ac)

Lot Dimensions (est.)120 ft wide × 43 ft deep

Year Built1928

Property ClassRESIDENTIAL

OwnerP M MILLER & S D MILLER

Assessed Value$309,900

Land Value$125,000

Building Value$184,900

Annual Tax$4,535

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

3 permits on record since 2018 · $5K total declared value · Most recent: Aug 2025 (existres)

ExistresAug 2025Final Inspection

Residential Heating and Air Conditioning Inc

MiscJul 2024Closed

$5K

BAYPORT ROOFING AND SIDING LLC

ResApr 2018Closed

PIPE MASTERS INC

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 width107 ft

Buildable depth3 ft

Area~2,372 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 2,372 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
4304 40TH AVE S MINNEAPOLIS MN 55406	JENNIFER A CLARK	RESIDENTIAL	$281,700	43 ft
4308 40TH AVE S MINNEAPOLIS MN 55406	JOHN & PATRICIA HAY-CHAPMAN	RESIDENTIAL	$288,600	85 ft
3915 43RD ST E MINNEAPOLIS MN 55406	BENJAMIN T HABERMANN	RESIDENTIAL	$255,800	98 ft
4258 40TH AVE S MINNEAPOLIS MN 55406	NOAH WAGNER	RESIDENTIAL	$269,500	102 ft
3909 43RD ST E MINNEAPOLIS MN 55406	TRENT W WELLS/JEAN L PORTER	RESIDENTIAL	$457,000	137 ft
4312 40TH AVE S MINNEAPOLIS MN 55406	JESSICA MARA GALATZ	RESIDENTIAL	$286,100	141 ft
4252 40TH AVE S MINNEAPOLIS MN 55406	MICHAEL D DICK/LINDA J DICK	RESIDENTIAL	$644,000	142 ft
3905 43RD ST E MINNEAPOLIS MN 55406	D C GUMM & M A GUMM	RESIDENTIAL	$300,500	173 ft
4257 39TH AVE S MINNEAPOLIS MN 55406	SHERYL WYMAN ET AL	RESIDENTIAL	$291,100	177 ft
4248 40TH AVE S MINNEAPOLIS MN 55406	A M CARTER & G J LYREK	RESIDENTIAL	$322,000	182 ft

Property History

Most Recent Sale

Date202010

Price$280,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,535