3122 23RD AVE S MINNEAPOLIS MN 55407

PID: 0102824210041

Property Overview

Parcel ID0102824210041

Lot Size8,568 sq ft (0.197 ac)

Lot Dimensions (est.)171 ft wide × 50 ft deep

Year Built1962

Property ClassAPARTMENT

OwnerELLIOTT HOMES LLC

Assessed Value$1,153,000

Land Value$129,000

Building Value$1,024,000

Annual Tax$23,443

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 ↗

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 ↗

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

Corcoran · Minneapolis

Median reported rent1,426/mo

Renter-occupied41.7%

Median home value$261K

Vacancy rate3.7%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1087

Market Snapshot

Zip code 55407

Median sale price$335K-6.9% YoY

Median price / sqft$215/sqft

Median days to close18 days

Active listings78

Source: Redfin Data Center (Invalid Date) · Zip 55407

Zoning

UN3Urban Neighborhood 3

Urban Neighborhood 3 — medium-density residential

Typical Uses

·Apartment buildings
·Mixed-use with neighborhood retail

Max Height50 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width40 ft

Buildable depth131 ft

Area~5,253 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 3-story wood frame (5–12 units) benchmarks for 5,253 sqft buildable area.

Est. units

Yield on cost

4.2%

Spread

-1.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3118 23RD AVE S MINNEAPOLIS MN 55407	MARY M CLARK	RESIDENTIAL	$278,900	50 ft
3126 23RD AVE S MINNEAPOLIS MN 55407	CHARLES RAY REIMLER JR	RESIDENTIAL	$326,500	50 ft
3114 23RD AVE S MINNEAPOLIS MN 55407	S AZHAER/D YIMER/B MEKURIA	APARTMENT	$482,000	100 ft
3132 23RD AVE S MINNEAPOLIS MN 55407	JAYMES H DRIELING	RESIDENTIAL-TWO UNIT	$319,900	100 ft
3138 23RD AVE S MINNEAPOLIS MN 55407	C A EASON & J E HAAKE	RESIDENTIAL	$267,100	150 ft
3106 23RD AVE S MINNEAPOLIS MN 55407	JAMES E DOBBINS	RESIDENTIAL	$218,000	154 ft
3123 22ND AVE S MINNEAPOLIS MN 55407	BRIAN H MC NEILL	RESIDENTIAL	$290,200	187 ft
3127 22ND AVE S MINNEAPOLIS MN 55407	AMY KUROWSKI-MOEN/ERIC MOEN	RESIDENTIAL	$275,400	193 ft
3119 22ND AVE S MINNEAPOLIS MN 55407	K I MARTINEZ & G M SALDANA	RESIDENTIAL	$365,900	194 ft
3142 23RD AVE S MINNEAPOLIS MN 55407	SHIRA BURTON	RESIDENTIAL	$256,000	200 ft

Property History

Most Recent Sale

Date201301

Price$580,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$23,443