Where: 28xx Benton Blvd.

What: 4BR/3BA home with 3,400 FSF; built in 1921
How much: asking price $1.050M
When: originally listed July 20, 2009
Who: listed by Coldwell Banker Burnet

Normally, the land underneath a home accounts for one-quarter to one-third of a home’s tax assessed value.

So, for a home worth $300k, the land would likely be valued at $75k – $100k.

And then there’s this home, set on an almost one acre lot backing up to the Kenilworth Channel (connecting Cedar Lake and Lake of the Isles, southwest of downtown Minneapolis):

Land value: $819k
Building value: $214k
Total tax assessed value: $1.033M

If there’s a (habitable) home in the Twin Cities with a higher land-to-building ratio . . . I’m not personally aware of it.
About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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