4342 1ST AVE S MINNEAPOLIS MN 55409

PID: 1002824420076

Property Overview

Parcel ID1002824420076

Lot Size5,011 sq ft (0.115 ac)

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

Year Built1925

Property ClassRESIDENTIAL

OwnerS PETERSON & J LUNDQUIST

Assessed Value$374,300

Land Value$126,000

Building Value$248,300

Annual Tax$5,613

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

5 permits on record since 2021 · Most recent: Oct 2025 (existres)

ExistresOct 2025Closed

Standard Heating and Air Conditioning Inc

ExistresOct 2025Closed

Standard Heating and Air Conditioning Inc

ExistresFeb 2023Closed

Perfection Heating and Air Conditioning Inc

ExistresAug 2022Closed

WOODLAND STOVES & FIREPLACES

ResFeb 2021Closed

DINIUS PLUMBING CO 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~2,557 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 2,557 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
4338 1ST AVE S MINNEAPOLIS MN 55409	K FORSCHLER & N WALSH	RESIDENTIAL	$339,700	40 ft
4346 1ST AVE S MINNEAPOLIS MN 55409	MARNI E & SEAN D THOMAS	RESIDENTIAL	$515,600	40 ft
4334 1ST AVE S MINNEAPOLIS MN 55409	LESA VAN REGENMORTER	RESIDENTIAL	$335,800	80 ft
4350 1ST AVE S MINNEAPOLIS MN 55409	ANDREW KASPER	RESIDENTIAL	$351,500	87 ft
14 44TH ST E MINNEAPOLIS MN 55409	B R SCHIMKE & N M CRAVENS	RESIDENTIAL	$219,100	91 ft
4330 1ST AVE S MINNEAPOLIS MN 55409	J R HEIR & K L CHEPP-HEIR	RESIDENTIAL	$307,100	120 ft
4343 NICOLLET AVE MINNEAPOLIS MN 55409	4335 BLOOMINGTON LLC	COMMERCIAL-PREFERRED	$920,300	144 ft
4355 NICOLLET AVE MINNEAPOLIS MN 55409	JAASCO LLC	COMMERCIAL-PREFERRED	$508,000	153 ft
4326 1ST AVE S MINNEAPOLIS MN 55409	KATHERINE NISSA COOPER	RESIDENTIAL	$305,500	160 ft
4351 1ST AVE S MINNEAPOLIS MN 55409	H M BEYER & C M OCONNOR	RESIDENTIAL	$304,700	183 ft

Property History

Most Recent Sale

Date202103

Price$390,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$5,613