2409 29TH AVE S MINNEAPOLIS MN 55406

PID: 3602924140060

Property Overview

Parcel ID3602924140060

Lot Size7,538 sq ft (0.173 ac)

Lot Dimensions (est.)157 ft wide × 48 ft deep

Year Built1925

Property ClassAPARTMENT

OwnerTRUST ENTERPRISES LLC

Assessed Value$551,000

Land Value$105,500

Building Value$445,500

Annual Tax$10,465

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

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 rent1,337/mo

Renter-occupied28.1%

Median home value$329K

Vacancy rate4.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1075

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 width38 ft

Buildable depth117 ft

Area~4,447 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 4,447 sqft buildable area.

Est. units

Yield on cost

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2413 29TH AVE S MINNEAPOLIS MN 55406	CORNELIUS J DONNELLY	RESIDENTIAL	$308,100	48 ft
2405 29TH AVE S MINNEAPOLIS MN 55406	CRAIG FALON & MARY DELANDER	RESIDENTIAL	$391,200	48 ft
2417 29TH AVE S MINNEAPOLIS MN 55406	TIMOTHY G LAYTON	RESIDENTIAL-TWO UNIT	$386,300	96 ft
2901 24TH ST E MINNEAPOLIS MN 55406	RICHARD H WESTBY ETAL	RESIDENTIAL	$336,000	96 ft
2917 24TH ST E MINNEAPOLIS MN 55406	B M M PAGUYO & J R PAGUYO	RESIDENTIAL	$229,500	135 ft
2421 29TH AVE S MINNEAPOLIS MN 55406	E H WEST/T J BEER/R A DOUCET	RESIDENTIAL	$478,200	144 ft
2921 24TH ST E MINNEAPOLIS MN 55406	ERIK R MEGOW & JULIE MEGOW	RESIDENTIAL	$290,700	170 ft
2410 30TH AVE S MINNEAPOLIS MN 55406	LYNN SHAFER & STEVEN COBBS	RESIDENTIAL	$289,600	173 ft
2408 30TH AVE S MINNEAPOLIS MN 55406	HELEN SCHMIDT	RESIDENTIAL	$228,100	174 ft
2412 30TH AVE S MINNEAPOLIS MN 55406	S REINERT & H REINERT	RESIDENTIAL	$434,200	179 ft

Property History

Most Recent Sale

Date199302

Price$145,000

Type—

Current Tax Year

Year2026

Tax Due$10,465