3115 ELLIOT AVE MINNEAPOLIS MN 55407

PID: 0202824210181

Property Overview

Parcel ID0202824210181

Lot Size7,610 sq ft (0.175 ac)

Lot Dimensions (est.)127 ft wide × 60 ft deep

Year Built1906

Property ClassRESIDENTIAL-TWO UNIT

OwnerSHU PING TEOH/KHAI HONG LIM

Assessed Value$285,600

Land Value$82,000

Building Value$203,600

Annual Tax$5,748

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 width50 ft

Buildable depth87 ft

Area~4,340 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 4,340 sqft buildable area.

Est. units

Yield on cost

3.9%

Spread

-1.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3109 ELLIOT AVE MINNEAPOLIS MN 55407	ELLIOT PLACE LLC	TRIPLEX	$397,900	50 ft
3121 ELLIOT AVE MINNEAPOLIS MN 55407	LAURA L BALDWIN	RESIDENTIAL	$422,400	60 ft
3105 ELLIOT AVE MINNEAPOLIS MN 55407	JESSICA LOPEZ LYMAN	RESIDENTIAL-TWO UNIT	$358,000	90 ft
3125 ELLIOT AVE MINNEAPOLIS MN 55407	SAS INVESTMENT PROP LLC	RESIDENTIAL	$220,900	110 ft
3101 ELLIOT AVE MINNEAPOLIS MN 55407	M RANDALL & L WININGER	RESIDENTIAL	$351,800	131 ft
3112 10TH AVE S MINNEAPOLIS MN 55407	E MORGAN THORSON	RESIDENTIAL	$297,100	141 ft
3116 10TH AVE S MINNEAPOLIS MN 55407	DAVID B CROSS	RESIDENTIAL	$351,100	144 ft
3108 10TH AVE S MINNEAPOLIS MN 55407	L O PAUCAR & D E S LLANGARI	RESIDENTIAL	$331,500	149 ft
3129 ELLIOT AVE MINNEAPOLIS MN 55407	MOLINA INVESTMENT GROUP LLC	RESIDENTIAL	$305,900	150 ft
3120 10TH AVE S MINNEAPOLIS MN 55407	E S WRIGHT & A E GRAHAM	RESIDENTIAL	$364,200	157 ft

Property History

Most Recent Sale

Date201504

Price$125,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$5,748