3125 ELLIOT AVE MINNEAPOLIS MN 55407

PID: 0202824210137

Property Overview

Parcel ID0202824210137

Lot Size5,071 sq ft (0.116 ac)

Lot Dimensions (est.)127 ft wide × 40 ft deep

Year Built1909

Property ClassRESIDENTIAL

OwnerSAS INVESTMENT PROP LLC

Assessed Value$220,900

Land Value$69,000

Building Value$151,900

Annual Tax$3,637

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

Powderhorn Park · 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 width30 ft

Buildable depth87 ft

Area~2,602 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 2,602 sqft buildable area.

Est. units

Yield on cost

3.6%

Spread

-1.9%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3129 ELLIOT AVE MINNEAPOLIS MN 55407	MOLINA INVESTMENT GROUP LLC	RESIDENTIAL	$305,900	40 ft
3121 ELLIOT AVE MINNEAPOLIS MN 55407	LAURA L BALDWIN	RESIDENTIAL	$422,400	50 ft
3133 ELLIOT AVE MINNEAPOLIS MN 55407	MARK L ANDERSON ETAL	RESIDENTIAL	$241,400	80 ft
3115 ELLIOT AVE MINNEAPOLIS MN 55407	SHU PING TEOH/KHAI HONG LIM	RESIDENTIAL-TWO UNIT	$285,600	110 ft
3137 ELLIOT AVE MINNEAPOLIS MN 55407	COMMUNITY HOUSING RESOURCES	RESIDENTIAL	$0	120 ft
3124 10TH AVE S MINNEAPOLIS MN 55407	LEE P CLAUSEN & E M LOFGREN	RESIDENTIAL	$423,400	140 ft
3120 10TH AVE S MINNEAPOLIS MN 55407	E S WRIGHT & A E GRAHAM	RESIDENTIAL	$364,200	146 ft
3128 10TH AVE S MINNEAPOLIS MN 55407	M A PETERSON & K S PETERSON	RESIDENTIAL-TWO UNIT	$427,900	146 ft
3141 ELLIOT AVE MINNEAPOLIS MN 55407	R P RAYFIELD & P J ARNOLD	RESIDENTIAL	$376,000	160 ft
3109 ELLIOT AVE MINNEAPOLIS MN 55407	ELLIOT PLACE LLC	TRIPLEX	$397,900	160 ft

Property History

Most Recent Sale

Date201510

Price$141,400

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$3,637