3811 31ST ST W MINNEAPOLIS MN 55416

PID: 0502824220033

Property Overview

Parcel ID0502824220033

Lot Size27,200 sq ft (0.624 ac)

Lot Dimensions (est.)229 ft wide × 119 ft deep

Year Built1970

Property ClassAPARTMENT

Owner3811 TOWN TERRACE LLC

Assessed Value$2,070,000

Land Value$1,365,400

Building Value$704,600

Annual Tax$39,158

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

West Maka Ska · Minneapolis

Median reported rent1,434/mo

Renter-occupied58.4%

Median home value$420K

Vacancy rate3.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1091

Market Snapshot

Zip code 55416

Median sale price$395K-8.1% YoY

Median price / sqft$246/sqft

Median days to close46 days

Active listings89

Source: Redfin Data Center (Invalid Date) · Zip 55416

Zoning

UN3Urban Neighborhood 3

Urban Neighborhood 3 — medium-density residential

Typical Uses

·Apartment buildings
·Mixed-use with neighborhood retail

Max Height50 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width217 ft

Buildable depth80 ft

Area~17,330 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 3-story wood frame (5–12 units) benchmarks for 17,330 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
3113 FRANCE AVE S MINNEAPOLIS MN 55416	CP4 INGLEWOOD LLC	VACANT LAND-APARTMENT	$700,000	127 ft
3823 31ST ST W MINNEAPOLIS MN 55416	DARK MATTER LLC	APARTMENT	$2,142,000	149 ft
3810 31ST ST W MINNEAPOLIS MN 55416	MANISH BOORUGU	CONDOMINIUM	$344,400	184 ft
3810 31ST ST W MINNEAPOLIS MN 55416	ALYSSA YAMATANI	CONDOMINIUM	$339,500	184 ft
3810 31ST ST W MINNEAPOLIS MN 55416	RICHARD HUDOCK	CONDOMINIUM	$336,600	184 ft
3810 31ST ST W MINNEAPOLIS MN 55416	CHERYL SCHIELE	CONDOMINIUM	$339,500	184 ft
3810 31ST ST W MINNEAPOLIS MN 55416	J S MIRSHARIF & S MIRSHARIF	CONDOMINIUM	$348,200	184 ft
3810 31ST ST W MINNEAPOLIS MN 55416	REBEKAH BUEGE	CONDOMINIUM	$355,000	184 ft
3810 31ST ST W MINNEAPOLIS MN 55416	C GUNDERSON & C E WARNER	CONDOMINIUM	$339,500	184 ft
3810 31ST ST W MINNEAPOLIS MN 55416	MARIA CHRISTU/KEVIN STAUNTON	CONDOMINIUM	$360,800	184 ft

Property History

Most Recent Sale

Date200809

Price$1,160,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$39,158