2840 37TH AVE S MINNEAPOLIS MN 55406

PID: 3102923340040

Property Overview

Parcel ID3102923340040

Lot Size5,132 sq ft (0.118 ac)

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

Year Built1914

Property ClassRESIDENTIAL

OwnerCARRIE & RYAN OVERGAARD

Assessed Value$263,000

Land Value$126,000

Building Value$137,000

Annual Tax$3,750

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

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

2 permits on record since 2018 · $11K total declared value · Most recent: Jul 2024 (misc)

MiscJul 2024Closed

$11K

SELA ROOFING AND REMODELING INC

ResJan 2018Closed

Erik Nelson Plumbing LLC

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

Neighborhood Profile

Longfellow · 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~2,648 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 2,648 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
2836 37TH AVE S MINNEAPOLIS MN 55406	RUSSELL C CARLSON ETAL	RESIDENTIAL	$264,700	40 ft
2844 37TH AVE S MINNEAPOLIS MN 55406	CLELIA COSTA SANTOS	RESIDENTIAL	$298,900	40 ft
2832 37TH AVE S MINNEAPOLIS MN 55406	D R GRAMENZ & K A HOPPER	RESIDENTIAL	$412,700	80 ft
2848 37TH AVE S MINNEAPOLIS MN 55406	CITY OF LAKES COMM LAND TRST	—	$227,500	80 ft
2828 37TH AVE S MINNEAPOLIS MN 55406	PATRICK N SHEEHY ET AL	RESIDENTIAL	$327,700	120 ft
2852 37TH AVE S MINNEAPOLIS MN 55406	COLLEEN A AHO	RESIDENTIAL	$428,600	125 ft
2841 36TH AVE S MINNEAPOLIS MN 55406	G R GOEPFRICH & K INOFERIO	RESIDENTIAL-TWO UNIT	$349,900	142 ft
2845 36TH AVE S MINNEAPOLIS MN 55406	J A NICHOLS & T HAAG	RESIDENTIAL	$276,200	147 ft
2837 36TH AVE S MINNEAPOLIS MN 55406	HELEN S GARABITIAN	RESIDENTIAL	$238,800	148 ft
2824 37TH AVE S MINNEAPOLIS MN 55406	COMMUNITY HOUSING RESOURCES	RESIDENTIAL	$0	161 ft

Property History

Most Recent Sale

Date201108

Price$139,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$3,750