4231 1ST AVE S MINNEAPOLIS MN 55409

PID: 1002824420121

Property Overview

Parcel ID1002824420121

Lot Size5,274 sq ft (0.121 ac)

Lot Dimensions (est.)132 ft wide × 40 ft deep

Year Built1916

Property ClassRESIDENTIAL

OwnerNILS M HOEGER-LERDAL ET AL

Assessed Value$333,800

Land Value$133,000

Building Value$200,800

Annual Tax$6,449

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

8 permits on record since 2019 · $56K total declared value · Most recent: Jan 2025 (existres)

ExistresJan 2025Inspection

Schwantes Heating and Air

RemodelJun 2022Closed

$3K

BRENNE BUILDERS

ExistresFeb 2022Closed

Binder Heating and Air Conditioning Inc

ResJan 2022Closed

Bruce Nelson Plumbing and Heating Service Inc

RemodelJan 2022Closed

$45K

DBS RESIDENTIAL SOLUTIONS 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$442K+20.2% YoY

Median price / sqft$259/sqft

Median days to close18 days

Active listings25

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

Zoning

UN1Urban Neighborhood 1

Urban Neighborhood 1 — low-density residential

Typical Uses

·Single-family homes
·Duplexes
·Accessory dwelling units

Max Height35 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width30 ft

Buildable depth92 ft

Area~2,755 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 sfr / adu benchmarks for 2,755 sqft buildable area.

Est. units

Yield on cost

2.6%

Spread

-2.9%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
4235 1ST AVE S MINNEAPOLIS MN 55409	KELLY MCNAMARA	RESIDENTIAL	$267,200	40 ft
4227 1ST AVE S MINNEAPOLIS MN 55409	REZA POURFARZAD	RESIDENTIAL	$332,900	40 ft
4239 1ST AVE S MINNEAPOLIS MN 55409	C DESMOND & J L LESTER	RESIDENTIAL	$435,300	80 ft
4223 1ST AVE S MINNEAPOLIS MN 55409	ERIK A & AMANDA E GRANSE	RESIDENTIAL	$323,900	80 ft
4243 1ST AVE S MINNEAPOLIS MN 55409	E S VOGEL TR/J L VOGEL TR	RESIDENTIAL	$433,900	120 ft
4219 1ST AVE S MINNEAPOLIS MN 55409	J E KOTLARK & C MULLAN	RESIDENTIAL	$349,500	120 ft
4230 STEVENS AVE MINNEAPOLIS MN 55409	MELANIE WISE	RESIDENTIAL	$281,400	144 ft
4234 STEVENS AVE MINNEAPOLIS MN 55409	BRYAN ISCHE	RESIDENTIAL	$272,900	148 ft
4226 STEVENS AVE MINNEAPOLIS MN 55409	JULIE M SCHMIDT	RESIDENTIAL	$282,300	149 ft
4247 1ST AVE S MINNEAPOLIS MN 55409	JEDIDIAH A MEYER	RESIDENTIAL	$332,500	160 ft

Property History

Most Recent Sale

Date200805

Price$196,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$6,449