2824 40TH AVE S MINNEAPOLIS MN 55406

PID: 3102923430156

Property Overview

Parcel ID3102923430156

Lot Size5,166 sq ft (0.119 ac)

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

Year Built1923

Property ClassRESIDENTIAL

OwnerSCOTT J FULTZ

Assessed Value$327,000

Land Value$148,000

Building Value$179,000

Annual Tax$4,822

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

2 permits on record since 2021 · $3K total declared value · Most recent: Sep 2025 (misc)

MiscSep 2025Closed

$2K

Scott Fultz

RemodelJun 2021Closed

$2K

SCOTT J FULTZ

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~2,674 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 2,674 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
2828 40TH AVE S MINNEAPOLIS MN 55406	ANDREW D H LAMBERT ETAL	RESIDENTIAL	$331,800	40 ft
2820 40TH AVE S MINNEAPOLIS MN 55406	STEFAN GILDMEISTER ET AL	RESIDENTIAL	$411,800	40 ft
2832 40TH AVE S MINNEAPOLIS MN 55406	V E STANDING & T M STANDING	RESIDENTIAL	$303,300	80 ft
2816 40TH AVE S MINNEAPOLIS MN 55406	HOWARD SAMUEL JOHNSON REV TR	RESIDENTIAL	$299,700	80 ft
2836 40TH AVE S MINNEAPOLIS MN 55406	AMY JO WALKNER	RESIDENTIAL	$315,200	120 ft
2812 40TH AVE S MINNEAPOLIS MN 55406	T R BOESCH & A M POBURKA	RESIDENTIAL	$332,100	120 ft
2825 39TH AVE S MINNEAPOLIS MN 55406	MICHELE HOCH	RESIDENTIAL	$296,800	141 ft
2821 39TH AVE S MINNEAPOLIS MN 55406	T A EVANS & J E PARKER	RESIDENTIAL	$253,100	146 ft
2829 39TH AVE S MINNEAPOLIS MN 55406	KATIE S JALMA LIV TR ET AL	RESIDENTIAL	$335,100	146 ft
2840 40TH AVE S MINNEAPOLIS MN 55406	ANDREW DELANY & LAUREN FLYNN	RESIDENTIAL	$288,000	160 ft

Property History

Most Recent Sale

Date200907

Price$177,500

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$4,822