3928 1ST AVE S MINNEAPOLIS MN 55409

PID: 1002824120098

Property Overview

Parcel ID1002824120098

Lot Size5,074 sq ft (0.116 ac)

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

Year Built1932

Property ClassRESIDENTIAL-TWO UNIT

OwnerNATHAN KENNER

Assessed Value$462,200

Land Value$118,000

Building Value$344,200

Annual Tax$8,778

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

1 permit on record since 2018 · Most recent: Mar 2018 (res)

ResMar 2018Closed

Farr Plumbing and Heating LLC

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

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~2,605 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 2,605 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
3922 1ST AVE S MINNEAPOLIS MN 55409	3922 FIRST AVE LLC	RESIDENTIAL-TWO UNIT	$484,000	40 ft
3930 1ST AVE S MINNEAPOLIS MN 55409	BRENNA SALINE	RESIDENTIAL-TWO UNIT	$451,700	40 ft
3918 1ST AVE S MINNEAPOLIS MN 55409	JAY R KETTLER	RESIDENTIAL-TWO UNIT	$420,100	80 ft
3934 1ST AVE S MINNEAPOLIS MN 55409	SOUTH LAKE GROUP LLC	APARTMENT	$1,049,000	100 ft
3914 1ST AVE S MINNEAPOLIS MN 55409	MALCOLM BAKER & COLIN DEAN	RESIDENTIAL-TWO UNIT	$463,900	120 ft
3921 NICOLLET AVE MINNEAPOLIS MN 55409	CORP/CH OF LATER DAY SAINTS	COMMERCIAL-PREFERRED	$0	140 ft
3910 1ST AVE S MINNEAPOLIS MN 55409	LUTHER GROTH & LINDSEY GROTH	RESIDENTIAL-TWO UNIT	$454,900	160 ft
3942 1ST AVE S MINNEAPOLIS MN 55409	BRADLEY D BOURN	RESIDENTIAL-TWO UNIT	$348,300	160 ft
3927 1ST AVE S MINNEAPOLIS MN 55409	ROBERT L BARTELS	RESIDENTIAL-TWO UNIT	$482,700	189 ft
3931 1ST AVE S MINNEAPOLIS MN 55409	NATHAN WEST	RESIDENTIAL-TWO UNIT	$610,600	193 ft

Property History

Most Recent Sale

Date201803

Price$395,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$8,778