3021 ELLIOT AVE MINNEAPOLIS MN 55407

PID: 0202824210072

Property Overview

Parcel ID0202824210072

Lot Size5,291 sq ft (0.121 ac)

Lot Dimensions (est.)126 ft wide × 42 ft deep

Year Built1911

Property ClassRESIDENTIAL-TWO UNIT

OwnerLAVONNE M & MARLON GUERRA

Assessed Value$261,900

Land Value$66,000

Building Value$195,900

Annual Tax$6,775

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Qualified Census Tract (QCT)High

Within a HUD-designated Qualified Census Tract — LIHTC projects here receive a 30% basis boost, significantly increasing the tax credit allocation for affordable housing development.

HUD — LIHTC Qualified Census Tracts ↗

Potential programs

LIHTC 30% Basis BoostMedium

Affordable housing developments in QCTs receive a 30% increase in eligible basis for Low Income Housing Tax Credits — materially improving project feasibility. Allocated through MHFA.

HUD — LIHTC Qualified Census Tracts ↗

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 rent1,157/mo

Renter-occupied51.4%

Median home value$305K

Vacancy rate5.2%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 85

Market Snapshot

Zip code 55407

Median sale price$340K+1.5% YoY

Median price / sqft$214/sqft

Median days to close22 days

Active listings49

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

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 width32 ft

Buildable depth86 ft

Area~2,751 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 2,751 sqft buildable area.

Est. units

Yield on cost

4.1%

Spread

-1.4%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3025 ELLIOT AVE MINNEAPOLIS MN 55407	AKSHAY PATIL	RESIDENTIAL	$282,100	42 ft
3017 ELLIOT AVE MINNEAPOLIS MN 55407	MARQUETTE BANK LAKE	LAND-COMMERCIAL	$95,400	42 ft
3029 ELLIOT AVE MINNEAPOLIS MN 55407	RICKY SHANGO & GINA M SHANGO	RESIDENTIAL	$215,300	84 ft
3033 ELLIOT AVE MINNEAPOLIS MN 55407	MORGAN F PALDRON	RESIDENTIAL	$288,900	126 ft
3020 10TH AVE S MINNEAPOLIS MN 55407	HYB LLC	APARTMENT	$462,000	141 ft
3024 10TH AVE S MINNEAPOLIS MN 55407	R G BULTHUIS TRUSTEE	TRIPLEX	$398,900	146 ft
919 LAKE ST E MINNEAPOLIS MN 55407	FIRST BANK NATL ASSOC	COMMERCIAL-PREFERRED	$1,860,000	163 ft
3028 10TH AVE S MINNEAPOLIS MN 55407	M S NETERER & S E NETERER	RESIDENTIAL	$386,400	164 ft
3039 ELLIOT AVE MINNEAPOLIS MN 55407	JOY RIVERA	RESIDENTIAL	$365,400	168 ft
3020 ELLIOT AVE MINNEAPOLIS MN 55407	LAKE CHICAGO REAL ESTATE LLC	VACANT LAND-RESIDENTIAL	$2,600	178 ft

Property History

Most Recent Sale

Date200003

Price$64,000

Type—

Current Tax Year

Year2026

Tax Due$6,775