3844 1ST AVE S MINNEAPOLIS MN 55409

PID: 1002824120072

Property Overview

Parcel ID1002824120072

Lot Size5,073 sq ft (0.116 ac)

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

Year Built1916

Property ClassRESIDENTIAL

OwnerPALLADIUM HOLDINGS LLC

Assessed Value$309,300

Land Value$120,000

Building Value$189,300

Annual Tax$4,788

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 ↗

Cultural District — 38th StreetHigh

Within the 38th Street Cultural District — eligible for Great Streets priority financing and cultural district-specific CPED programs.

Minneapolis — Cultural Districts ↗

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

King Field · Minneapolis

Median reported rent1,253/mo

Renter-occupied32.9%

Median home value$403K

Vacancy rate4.7%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1099

Market Snapshot

Zip code 55409

Median sale price$379K-21.6% YoY

Median price / sqft$218/sqft

Median days to close56 days

Active listings21

Source: Redfin Data Center (Invalid Date) · Zip 55409

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~2,604 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 2,604 sqft buildable area.

Est. units

Yield on cost

3.5%

Spread

-2.0%

Loading map…

Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3840 1ST AVE S MINNEAPOLIS MN 55409	DAVID C C ENGELHARDT ET AL	RESIDENTIAL	$258,100	40 ft
3848 1ST AVE S MINNEAPOLIS MN 55409	S T MARTIN & R D MARTIN	RESIDENTIAL	$439,200	40 ft
3836 1ST AVE S MINNEAPOLIS MN 55409	J J BROWN & S M IBANEZ BROWN	RESIDENTIAL	$385,200	80 ft
3852 1ST AVE S MINNEAPOLIS MN 55409	MAIA LOUISE DIEDERICH-LEE	RESIDENTIAL	$285,200	80 ft
3832 1ST AVE S MINNEAPOLIS MN 55409	M MORRISON & A DIMIAN	RESIDENTIAL	$312,300	120 ft
3856 1ST AVE S MINNEAPOLIS MN 55409	SARAH WOUTAT	RESIDENTIAL	$296,400	122 ft
12 39TH ST E MINNEAPOLIS MN 55409	SANDRA JEAN MCDONALD	RESIDENTIAL	$219,600	126 ft
3845 NICOLLET AVE MINNEAPOLIS MN 55409	MSB NORTH II LLC	RESIDENTIAL-TWO UNIT	$447,200	138 ft
10 39TH ST E MINNEAPOLIS MN 55409	THERESA R TOMBERS	RESIDENTIAL	$260,800	139 ft
3841 NICOLLET AVE MINNEAPOLIS MN 55409	J C LOTHROP & S L PETERSON	RESIDENTIAL	$196,600	144 ft

Property History

Most Recent Sale

Date200910

Price$5,000

TypeQUIT CLAIM DEED

Current Tax Year

Year2026

Tax Due$4,788