2828 38TH AVE S MINNEAPOLIS MN 55406

PID: 3102923340008

Property Overview

Parcel ID3102923340008

Lot Size5,135 sq ft (0.118 ac)

Lot Dimensions (est.)128 ft wide × 40 ft deep

Year Built1932

Property ClassRESIDENTIAL

OwnerANDREA ALMA & ALEX ALMA

Assessed Value$325,600

Land Value$126,000

Building Value$199,600

Annual Tax$4,799

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

Development Opportunities

Opportunity ZoneHigh

Within a federally designated Qualified Opportunity Zone — investors may qualify for capital gains deferrals via a Qualified Opportunity Fund.

HUD Opportunity Zones ↗

Potential programs

Environmental Response FundMedium

Grants and loans for contamination assessment and cleanup on eligible redevelopment sites; does not indicate known contamination.

Minneapolis — Brownfield Grants ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Minneapolis

Median reported rent1,200/mo

Renter-occupied43.8%

Median home value$252K

Vacancy rate5.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1074

Market Snapshot

Zip code 55406

Median sale price$340K+3.0% YoY

Median price / sqft$248/sqft

Median days to close21 days

Active listings39

Source: Redfin Data Center (Invalid Date) · Zip 55406

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 depth88 ft

Area~2,650 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 2,650 sqft buildable area.

Est. units

Yield on cost

3.4%

Spread

-2.1%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2824 38TH AVE S MINNEAPOLIS MN 55406	DIANA S MCKEOWN TRUST	RESIDENTIAL	$359,500	40 ft
2832 38TH AVE S MINNEAPOLIS MN 55406	J I MAUNG & R I MAUNG	RESIDENTIAL	$403,300	40 ft
2820 38TH AVE S MINNEAPOLIS MN 55406	ALLEN HOLZHEIMER ET AL	RESIDENTIAL	$313,200	80 ft
2836 38TH AVE S MINNEAPOLIS MN 55406	PATRICIA M JEVNING	RESIDENTIAL	$234,100	80 ft
2816 38TH AVE S MINNEAPOLIS MN 55406	HEATHER L RICH	RESIDENTIAL	$249,400	120 ft
2840 38TH AVE S MINNEAPOLIS MN 55406	NICHOLAS ZAPPA	RESIDENTIAL	$203,200	120 ft
2829 37TH AVE S MINNEAPOLIS MN 55406	JEFFREY ZAIS/PATRICIA H ZAIS	RESIDENTIAL	$319,200	142 ft
2833 37TH AVE S MINNEAPOLIS MN 55406	PAMELA M BARNARD	RESIDENTIAL	$326,300	147 ft
2825 37TH AVE S MINNEAPOLIS MN 55406	T KUDALIS & K MONAGHAN	RESIDENTIAL	$484,600	147 ft
2812 38TH AVE S MINNEAPOLIS MN 55406	PAUL SHIVELY/LISBETH SHIVELY	RESIDENTIAL	$242,500	160 ft

Property History

Most Recent Sale

Date202409

Price$460,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,799