4242 1ST AVE S MINNEAPOLIS MN 55409

PID: 1002824420139

Property Overview

Parcel ID1002824420139

Lot Size5,071 sq ft (0.116 ac)

Lot Dimensions (est.)126 ft wide × 40 ft deep

Year Built1929

Property ClassRESIDENTIAL

OwnerT D ALBERT & L L BARTLETT

Assessed Value$347,500

Land Value$128,000

Building Value$219,500

Annual Tax$5,165

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

No permits found in Minneapolis open data for this parcel.

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 depth87 ft

Area~2,602 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 2,602 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
4238 1ST AVE S MINNEAPOLIS MN 55409	COURTNEY N HAUBOLDT	RESIDENTIAL	$317,400	40 ft
4246 1ST AVE S MINNEAPOLIS MN 55409	JASON E WOLFE	RESIDENTIAL	$391,100	40 ft
4236 1ST AVE S MINNEAPOLIS MN 55409	AFFORDABLE GREEN HOMES LLC	RESIDENTIAL-TWO UNIT	$350,000	80 ft
4250 1ST AVE S MINNEAPOLIS MN 55409	JACK FLETCHER/ARIEL DONAHUE	RESIDENTIAL	$390,200	97 ft
4230 1ST AVE S MINNEAPOLIS MN 55409	PATRICK J KULISHECK	RESIDENTIAL	$290,600	120 ft
4249 NICOLLET AVE MINNEAPOLIS MN 55409	MN CITIZENS CONCERN FOR LIFE	COMMERCIAL-PREFERRED	$440,100	140 ft
4237 NICOLLET AVE MINNEAPOLIS MN 55409	VILNO LLC	COMMERCIAL-PREFERRED	$775,000	148 ft
4226 1ST AVE S MINNEAPOLIS MN 55409	AMANDA J WICKLUND	RESIDENTIAL	$248,400	160 ft
4251 NICOLLET AVE MINNEAPOLIS MN 55409	FULTON REALTY LLC	COMMERCIAL-PREFERRED	$675,000	161 ft
4233 NICOLLET AVE MINNEAPOLIS MN 55409	J A HORNIG & S K HORNIG	APARTMENT	$1,100,000	182 ft

Property History

Most Recent Sale

Date199506

Price$74,400

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$5,165