5048 40TH AVE S MINNEAPOLIS MN 55417

PID: 1802823420049

Property Overview

Parcel ID1802823420049

Lot Size7,706 sq ft (0.177 ac)

Lot Dimensions (est.)128 ft wide × 60 ft deep

Year Built1913

Property ClassRESIDENTIAL

OwnerA CIOFFI & T SPRINGER

Assessed Value$377,000

Land Value$162,000

Building Value$215,000

Annual Tax$5,733

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

Permit History

3 permits on record since 2019 · $1K total declared value · Most recent: Jan 2023 (res)

ResJan 2023Closed

CenterPoint Energy Resource Corp

MiscJul 2019Closed

$1K

STORM GROUP ROOFING LLC

ResJan 2019Closed

Erik Nelson Plumbing LLC

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

Neighborhood Profile

Minnehaha · Minneapolis

Median reported rent1,555/mo

Renter-occupied20.2%

Median home value$286K

Vacancy rate11.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 119.98

Market Snapshot

Zip code 55417

Median sale price$371K-4.4% YoY

Median price / sqft$244/sqft

Median days to close34 days

Active listings28

Source: Redfin Data Center (Invalid Date) · Zip 55417

Zoning

UN1Urban Neighborhood 1

Urban Neighborhood 1 — low-density residential

Typical Uses

·Single-family homes
·Duplexes
·Accessory dwelling units

Max Height35 ft

Development Potential

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width115 ft

Buildable depth20 ft

Area~4,155 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 4,155 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
5042 40TH AVE S MINNEAPOLIS MN 55417	P TROVECKE & D VALENTINE	RESIDENTIAL	$471,700	60 ft
5036 40TH AVE S MINNEAPOLIS MN 55417	C L GORDON & D M GORDON	RESIDENTIAL	$383,200	120 ft
5100 40TH AVE S MINNEAPOLIS MN 55417	MARGARET E DOLL REVOCABLE TR	RESIDENTIAL-TWO UNIT	$438,100	120 ft
5049 39TH AVE S MINNEAPOLIS MN 55417	C L KANUIT & K K KANUIT JT T	RESIDENTIAL	$481,700	142 ft
5043 39TH AVE S MINNEAPOLIS MN 55417	R MOTTAHEDEH & B DONAHUE	RESIDENTIAL	$415,300	155 ft
5030 40TH AVE S MINNEAPOLIS MN 55417	ARUN V HEJMADI TRUST	RESIDENTIAL	$397,600	180 ft
5106 40TH AVE S MINNEAPOLIS MN 55417	JAMES S NELSON	RESIDENTIAL	$327,000	181 ft
5037 39TH AVE S MINNEAPOLIS MN 55417	BARBARA LOUIS LESLIE	RESIDENTIAL	$264,300	185 ft
5101 39TH AVE S MINNEAPOLIS MN 55417	HONGZHI WU/ANNA C NELSON	RESIDENTIAL	$323,200	187 ft
5049 40TH AVE S MINNEAPOLIS MN 55417	D J RUDRUD & E N RUDRUD	RESIDENTIAL	$450,000	188 ft

Property History

Most Recent Sale

Date201902

Price$275,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$5,733