2936 40TH AVE S MINNEAPOLIS MN 55406

PID: 3102923430070

Property Overview

Parcel ID3102923430070

Lot Size5,169 sq ft (0.119 ac)

Lot Dimensions (est.)129 ft wide × 40 ft deep

Year Built1920

Property ClassRESIDENTIAL

OwnerLINDA R BERNTSON

Assessed Value$338,600

Land Value$145,000

Building Value$193,600

Annual Tax$5,016

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

1 permit on record since 2012 · $96K total declared value · Most recent: Aug 2012 (building re-inspection)

Building Re-inspectionAug 2012

$96K

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

Neighborhood Profile

Cooper · Minneapolis

Median reported rent1,309/mo

Renter-occupied16.5%

Median home value$339K

Vacancy rate5.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1076

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 depth89 ft

Area~2,676 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 2,676 sqft buildable area.

Est. units

Yield on cost

3.3%

Spread

-2.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2932 40TH AVE S MINNEAPOLIS MN 55406	AMADOR C TAPIA	RESIDENTIAL	$265,300	40 ft
2940 40TH AVE S MINNEAPOLIS MN 55406	ALICIA G SKOW/ROBERT J SKOW	RESIDENTIAL	$370,600	45 ft
2928 40TH AVE S MINNEAPOLIS MN 55406	JENNIFER S PARKER TRUST	RESIDENTIAL	$361,300	80 ft
3916 LAKE ST E MINNEAPOLIS MN 55406	TRI PROPERTIES LLC	COMMERCIAL-PREFERRED	$655,000	120 ft
2924 40TH AVE S MINNEAPOLIS MN 55406	L A ROSENBERG & S S SASTRY	RESIDENTIAL	$355,800	120 ft
2937 39TH AVE S MINNEAPOLIS MN 55406	MOLLY BAEVERSTAD	RESIDENTIAL	$310,500	141 ft
2941 39TH AVE S MINNEAPOLIS MN 55406	C P LAFFEY & K A KOSTKA	RESIDENTIAL	$352,600	146 ft
2931 39TH AVE S MINNEAPOLIS MN 55406	BMS PROPERTIES LLC	RESIDENTIAL-TWO UNIT	$344,700	147 ft
2920 40TH AVE S MINNEAPOLIS MN 55406	MARY ELIZABETH SCHOMMER	RESIDENTIAL	$318,800	160 ft
2929 39TH AVE S MINNEAPOLIS MN 55406	ELLEN M FREGO	RESIDENTIAL	$314,900	162 ft

Property History

Current Tax Year

Year2026

Tax Due$5,016