3823 31ST ST W MINNEAPOLIS MN 55416

PID: 0502824220034

Property Overview

Parcel ID0502824220034

Lot Size8,769 sq ft (0.201 ac)

Lot Dimensions (est.)75 ft wide × 117 ft deep

Year Built2019

Property ClassAPARTMENT

OwnerDARK MATTER LLC

Assessed Value$2,142,000

Land Value$438,700

Building Value$1,703,300

Annual Tax$40,520

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

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 width63 ft

Buildable depth80 ft

Area~5,050 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 5,050 sqft buildable area.

Est. units

Yield on cost

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3901 31ST ST W ST. LOUIS PARK MN 55416	STEVEN B GROSSMAN	RESIDENTIAL-TWO UNIT	$322,500	59 ft
3907 31ST ST W ST. LOUIS PARK MN 55416	NATALIE HAYNE/ROBERT BUCKLEY	RESIDENTIAL	$395,400	102 ft
3113 FRANCE AVE S MINNEAPOLIS MN 55416	CP4 INGLEWOOD LLC	VACANT LAND-APARTMENT	$700,000	135 ft
3911 31ST ST W ST. LOUIS PARK MN 55416	GLORIA WOLFE	RESIDENTIAL	$349,400	146 ft
3811 31ST ST W MINNEAPOLIS MN 55416	3811 TOWN TERRACE LLC	APARTMENT	$2,070,000	149 ft
3818 31ST ST W MINNEAPOLIS MN 55416	VENTURE 31 LLC	APARTMENT	$8,730,000	192 ft
3915 31ST ST W ST. LOUIS PARK MN 55416	PARKWAY FLATS LLC	LOW INCOME RENTAL	$1,345,000	211 ft
3810 31ST ST W MINNEAPOLIS MN 55416	MANISH BOORUGU	CONDOMINIUM	$344,400	237 ft
3810 31ST ST W MINNEAPOLIS MN 55416	ALYSSA YAMATANI	CONDOMINIUM	$339,500	237 ft
3810 31ST ST W MINNEAPOLIS MN 55416	RICHARD HUDOCK	CONDOMINIUM	$336,600	237 ft

Property History

Most Recent Sale

Date201403

Price$105,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$40,520