3437 ELLIOT AVE MINNEAPOLIS MN 55407

PID: 0202824310172

Property Overview

Parcel ID0202824310172

Lot Size4,965 sq ft (0.114 ac)

Lot Dimensions (est.)124 ft wide × 40 ft deep

Year Built1963

Property ClassRESIDENTIAL-TWO UNIT

OwnerPN7, LLC

Assessed Value$384,500

Land Value$91,000

Building Value$293,500

Annual Tax$7,499

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 width30 ft

Buildable depth84 ft

Area~2,523 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 2,523 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3441 ELLIOT AVE MINNEAPOLIS MN 55407	T M ANDERSON & E S ANDERSON	RESIDENTIAL	$319,000	40 ft
3435 ELLIOT AVE MINNEAPOLIS MN 55407	DELIGHTFUL STORIES LLC	RESIDENTIAL	$303,100	40 ft
3445 ELLIOT AVE MINNEAPOLIS MN 55407	LUCIA DUTRA	VACANT LAND-RESIDENTIAL	$64,000	80 ft
3431 ELLIOT AVE MINNEAPOLIS MN 55407	R E GENDLER & M S STONE	RESIDENTIAL-TWO UNIT	$372,900	80 ft
3451 ELLIOT AVE MINNEAPOLIS MN 55407	JEFFREY L SARTWELL	RESIDENTIAL-TWO UNIT	$378,000	117 ft
3427 ELLIOT AVE MINNEAPOLIS MN 55407	M BUCKLEY-FARLEE & M MULLENS	RESIDENTIAL	$331,200	120 ft
3438 10TH AVE S MINNEAPOLIS MN 55407	CHANCE MICHAEL RITCHIE	TRIPLEX	$453,300	139 ft
3434 10TH AVE S MINNEAPOLIS MN 55407	ROBERT & SUSAN MARKS-KERST	RESIDENTIAL	$317,400	144 ft
3442 10TH AVE S MINNEAPOLIS MN 55407	SARAH NEWBOLD WILSON TRUST	RESIDENTIAL	$360,900	148 ft
3455 ELLIOT AVE MINNEAPOLIS MN 55407	R J SPRATT & K R RUSH	RESIDENTIAL	$380,700	150 ft

Property History

Most Recent Sale

Date200904

Price$81,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$7,499