3940 16TH AVE S MINNEAPOLIS MN 55407

PID: 1102824110180

Property Overview

Parcel ID1102824110180

Lot Size5,671 sq ft (0.130 ac)

Lot Dimensions (est.)122 ft wide × 46 ft deep

Year Built1916

Property ClassRESIDENTIAL

OwnerA M KOFMEHL & S J LUNDY

Assessed Value$303,000

Land Value$107,000

Building Value$196,000

Annual Tax$4,403

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

5 permits on record since 2019 · $25K total declared value · Most recent: Mar 2026 (res)

ResMar 2026Closed

JD Plumbing LLC

MiscOct 2023Closed

$12K

RE NEW CONSTRUCTION LLC

MiscOct 2023Closed

$8K

MERIDIAN PROPERTIES LLC

RemodelJun 2019Closed

$5K

ALL ENERGY SOLAR INC

ExistresFeb 2019Closed

ANDERSON'S RESIDENTIAL HEATING AND A / C INC

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

Neighborhood Profile

Bancroft · Minneapolis

Median reported rent1,159/mo

Renter-occupied26.1%

Median home value$309K

Vacancy rate2.1%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1101

Market Snapshot

Zip code 55407

Median sale price$340K+1.5% YoY

Median price / sqft$214/sqft

Median days to close22 days

Active listings49

Source: Redfin Data Center (Invalid Date) · Zip 55407

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 width33 ft

Buildable depth92 ft

Area~2,995 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 2,995 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3936 16TH AVE S MINNEAPOLIS MN 55407	PHILIP RASKIN	RESIDENTIAL	$339,000	45 ft
3944 16TH AVE S MINNEAPOLIS MN 55407	E WETZEL & J SMITHSON	RESIDENTIAL	$312,600	48 ft
3932 16TH AVE S MINNEAPOLIS MN 55407	TAYLOR KAISER	RESIDENTIAL	$315,700	89 ft
1536 40TH ST E MINNEAPOLIS MN 55407	DAVID C CUNNINGHAM	RESIDENTIAL	$157,900	96 ft
3941 BLOOMINGTON AVE MINNEAPOLIS MN 55407	ROBERT LUSK	RESIDENTIAL	$375,600	134 ft
3928 16TH AVE S MINNEAPOLIS MN 55407	J BENOLKIN & S A LONNING	RESIDENTIAL	$248,700	136 ft
3937 BLOOMINGTON AVE MINNEAPOLIS MN 55407	S WALDORF/S VARUNA/R RIMPILA	RESIDENTIAL	$290,000	141 ft
3945 BLOOMINGTON AVE MINNEAPOLIS MN 55407	T S MARINAC & L M MARINAC	RESIDENTIAL-TWO UNIT	$329,700	143 ft
3933 BLOOMINGTON AVE MINNEAPOLIS MN 55407	JOANNA LYNN KELLY	RESIDENTIAL	$260,200	162 ft
3949 BLOOMINGTON AVE MINNEAPOLIS MN 55407	C SELSTAD & I ISMAILOGLU	RESIDENTIAL	$374,600	164 ft

Property History

Most Recent Sale

Date202510

Price$350,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,403