423 31ST ST W MINNEAPOLIS MN 55408

PID: 0302824220255

Property Overview

Parcel ID0302824220255

Lot Size5,322 sq ft (0.122 ac)

Lot Dimensions (est.)54 ft wide × 98 ft deep

Year Built1960

Property ClassCONDOMINIUM

OwnerEMILY MITAMURA

Assessed Value$137,200

Land Value$21,000

Building Value$116,200

Annual Tax$2,116

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

Lyndale · Minneapolis

Median reported rent1,022/mo

Renter-occupied73.1%

Median home value$318K

Vacancy rate5.5%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 82

Market Snapshot

Zip code 55408

Median sale price$390K+6.8% YoY

Median price / sqft$243/sqft

Median days to close62 days

Active listings73

Source: Redfin Data Center (Invalid Date) · Zip 55408

Zoning

UN2Urban Neighborhood 2

Urban Neighborhood 2 — moderate-density residential

Typical Uses

·Duplexes
·Triplexes
·Small apartment buildings (≤4 units)

Max Height35 ft

Development Potential

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width41 ft

Buildable depth58 ft

Area~2,406 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 2,406 sqft buildable area.

Est. units

Yield on cost

4.0%

Spread

-1.5%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
423 31ST ST W MINNEAPOLIS MN 55408	HENRY J SABIA-TANIS ET AL	CONDOMINIUM	$110,700	0 ft
423 31ST ST W MINNEAPOLIS MN 55408	SALDI PROPERTY ONE LLC	CONDOMINIUM	$109,800	0 ft
423 31ST ST W MINNEAPOLIS MN 55408	RUSSELL HOP	CONDOMINIUM	$138,200	0 ft
423 31ST ST W MINNEAPOLIS MN 55408	THIAGO ENRIQUE VOLPE PEREIRA	CONDOMINIUM	$139,200	0 ft
423 31ST ST W MINNEAPOLIS MN 55408	OIKOS DEO PLURALIS LLC	CONDOMINIUM	$138,200	0 ft
MN	Unknown	—	—	0 ft
415 31ST ST W MINNEAPOLIS MN 55408	VIETNAMESE ALLIANCE CHURCH	LAND-COMMERCIAL	$0	64 ft
3111 HARRIET AVE MINNEAPOLIS MN 55408	ART INVESTMENT GROUP LLC	RESIDENTIAL	$253,000	81 ft
3113 HARRIET AVE MINNEAPOLIS MN 55408	CHERYL LAMETTI	RESIDENTIAL-TWO UNIT	$328,300	109 ft
3115 HARRIET AVE MINNEAPOLIS MN 55408	DAVID M LINDSTROM ET AL	RESIDENTIAL	$543,400	137 ft

Property History

Most Recent Sale

Date201704

Price$140,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$2,116