4609 PARK AVE MINNEAPOLIS MN 55407

PID: 1402824220191

Property Overview

Parcel ID1402824220191

Lot Size4,717 sq ft (0.108 ac)

Lot Dimensions (est.)118 ft wide × 40 ft deep

Year Built1917

Property ClassRESIDENTIAL

OwnerDAVID GOODMAN & LUCAS WELLE

Assessed Value$498,200

Land Value$128,000

Building Value$370,200

Annual Tax$7,659

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

2 permits on record since 2013 · $90K total declared value · Most recent: Mar 2018 (misc)

MiscMar 2018Closed

$5K

STANDARD WATER CONTROL SYSTEMS INC

Building Re-inspectionAug 2013

$85K

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

Neighborhood Profile

Field · Minneapolis

Median reported rent1,858/mo

Renter-occupied11.4%

Median home value$326K

Vacancy rate2.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1109

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

UN3Urban Neighborhood 3

Urban Neighborhood 3 — medium-density residential

Typical Uses

·Apartment buildings
·Mixed-use with neighborhood retail

Max Height50 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width30 ft

Buildable depth78 ft

Area~2,337 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 2,337 sqft buildable area.

Est. units

Yield on cost

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
4613 PARK AVE MINNEAPOLIS MN 55407	R F SCHER & N MATUSIEWICZ	RESIDENTIAL	$294,900	40 ft
4605 PARK AVE MINNEAPOLIS MN 55407	EMILY R WHITE	RESIDENTIAL	$205,100	40 ft
4617 PARK AVE MINNEAPOLIS MN 55407	J S PETRON & A C THOMPSON	RESIDENTIAL	$312,200	80 ft
4601 PARK AVE MINNEAPOLIS MN 55407	CITY OF LAKES COMM LAND TRST	—	$286,300	88 ft
4621 PARK AVE MINNEAPOLIS MN 55407	CATHERINE R DUDA	RESIDENTIAL	$291,800	120 ft
4608 COLUMBUS AVE MINNEAPOLIS MN 55407	J R CLEM & D P QUADY	RESIDENTIAL	$272,600	131 ft
4612 COLUMBUS AVE MINNEAPOLIS MN 55407	BRUCE A OHNSTAD	RESIDENTIAL	$330,900	137 ft
4604 COLUMBUS AVE MINNEAPOLIS MN 55407	IH2 PROPERTY ILLINOIS LP	RESIDENTIAL	$395,300	138 ft
4616 COLUMBUS AVE MINNEAPOLIS MN 55407	JAMES A WAELHOF ET AL	RESIDENTIAL	$289,300	153 ft
4600 COLUMBUS AVE MINNEAPOLIS MN 55407	CARLA JO LINDSTROM BIELAWSKI	RESIDENTIAL	$237,600	159 ft

Property History

Most Recent Sale

Date202403

Price$506,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$7,659