4338 1ST AVE S MINNEAPOLIS MN 55409

PID: 1002824420075

Property Overview

Parcel ID1002824420075

Lot Size5,013 sq ft (0.115 ac)

Lot Dimensions (est.)125 ft wide × 40 ft deep

Year Built1937

Property ClassRESIDENTIAL

OwnerK FORSCHLER & N WALSH

Assessed Value$339,700

Land Value$127,000

Building Value$212,700

Annual Tax$5,034

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 2021 · $34K total declared value · Most recent: Mar 2021 (misc)

MiscMar 2021Closed

$34K

CLEAR POINT CONSTRUCTION INC

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

Neighborhood Profile

King Field · Minneapolis

Median reported rent1,545/mo

Renter-occupied24.2%

Median home value$360K

Vacancy rate1.5%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1108

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 depth85 ft

Area~2,558 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 2,558 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
4334 1ST AVE S MINNEAPOLIS MN 55409	LESA VAN REGENMORTER	RESIDENTIAL	$335,800	40 ft
4342 1ST AVE S MINNEAPOLIS MN 55409	S PETERSON & J LUNDQUIST	RESIDENTIAL	$374,300	40 ft
4330 1ST AVE S MINNEAPOLIS MN 55409	J R HEIR & K L CHEPP-HEIR	RESIDENTIAL	$307,100	80 ft
4346 1ST AVE S MINNEAPOLIS MN 55409	MARNI E & SEAN D THOMAS	RESIDENTIAL	$515,600	80 ft
4326 1ST AVE S MINNEAPOLIS MN 55409	KATHERINE NISSA COOPER	RESIDENTIAL	$305,500	120 ft
4350 1ST AVE S MINNEAPOLIS MN 55409	ANDREW KASPER	RESIDENTIAL	$351,500	126 ft
14 44TH ST E MINNEAPOLIS MN 55409	B R SCHIMKE & N M CRAVENS	RESIDENTIAL	$219,100	129 ft
4343 NICOLLET AVE MINNEAPOLIS MN 55409	4335 BLOOMINGTON LLC	COMMERCIAL-PREFERRED	$920,300	139 ft
4322 1ST AVE S MINNEAPOLIS MN 55409	DUSTIN JACOB	RESIDENTIAL	$366,700	161 ft
4355 NICOLLET AVE MINNEAPOLIS MN 55409	JAASCO LLC	COMMERCIAL-PREFERRED	$508,000	174 ft

Property History

Most Recent Sale

Date201610

Price$239,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$5,034