2904 40TH AVE S MINNEAPOLIS MN 55406

PID: 3102923430078

Property Overview

Parcel ID3102923430078

Lot Size5,557 sq ft (0.128 ac)

Lot Dimensions (est.)129 ft wide × 43 ft deep

Year Built1923

Property ClassRESIDENTIAL

OwnerBETSY BUSS

Assessed Value$304,700

Land Value$149,000

Building Value$155,700

Annual Tax$4,449

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

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

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

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 depth99 ft

Area~2,943 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 2,943 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2908 40TH AVE S MINNEAPOLIS MN 55406	E V SCHMIESING/P D LIESMAKI	RESIDENTIAL	$290,300	41 ft
2900 40TH AVE S MINNEAPOLIS MN 55406	ROBERT COWLE	RESIDENTIAL	$361,600	50 ft
2912 40TH AVE S MINNEAPOLIS MN 55406	M J BRUMMITT & A PLANT	RESIDENTIAL	$325,300	81 ft
2916 40TH AVE S MINNEAPOLIS MN 55406	CHRISTINE SCHULTZ	RESIDENTIAL	$263,200	121 ft
2905 39TH AVE S MINNEAPOLIS MN 55406	A A GODIN & A N ANDERSON	RESIDENTIAL	$391,700	141 ft
2909 39TH AVE S MINNEAPOLIS MN 55406	O A SCOTT-BELLOWS/B A KULIG	RESIDENTIAL	$306,000	147 ft
3909 29TH ST E MINNEAPOLIS MN 55406	1ST FREE METHODIST CH OF MPL	RESIDENTIAL	$0	149 ft
2920 40TH AVE S MINNEAPOLIS MN 55406	MARY ELIZABETH SCHOMMER	RESIDENTIAL	$318,800	161 ft
2915 39TH AVE S MINNEAPOLIS MN 55406	E G LINDE & K L LINDE	RESIDENTIAL	$268,400	163 ft
2852 40TH AVE S MINNEAPOLIS MN 55406	ALPHA C LUNDQUIST	RESIDENTIAL	$301,200	178 ft

Property History

Most Recent Sale

Date199910

Price$137,500

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,449