3027 31ST AVE S MINNEAPOLIS MN 55406

PID: 0602823220088

Property Overview

Parcel ID0602823220088

Lot Size5,611 sq ft (0.129 ac)

Lot Dimensions (est.)140 ft wide × 40 ft deep

Year Built1929

Property ClassRESIDENTIAL-TWO UNIT

OwnerA SHAKER & P S MITCHELL

Assessed Value$293,700

Land Value$123,000

Building Value$170,700

Annual Tax$5,577

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Potential programs

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

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 rent1,037/mo

Renter-occupied58.5%

Median home value$302K

Vacancy rate13.8%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1088

Market Snapshot

Zip code 55406

Median sale price$340K+3.0% YoY

Median price / sqft$248/sqft

Median days to close21 days

Active listings39

Source: Redfin Data Center (Invalid Date) · Zip 55406

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 depth100 ft

Area~3,008 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 3,008 sqft buildable area.

Est. units

Yield on cost

3.6%

Spread

-1.9%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3031 31ST AVE S MINNEAPOLIS MN 55406	SANDRA G PAULSON	RESIDENTIAL	$218,700	38 ft
3023 31ST AVE S MINNEAPOLIS MN 55406	BPH HOLDINGS INC	RESIDENTIAL	$152,200	40 ft
3035 31ST AVE S MINNEAPOLIS MN 55406	MARY MARIE KJELLA	RESIDENTIAL	$224,000	78 ft
3019 31ST AVE S MINNEAPOLIS MN 55406	BRYANT CASTRO-VENANCIO	RESIDENTIAL	$333,100	80 ft
3015 31ST AVE S MINNEAPOLIS MN 55406	MARIBEL GARCIA	RESIDENTIAL-TWO UNIT	$356,300	120 ft
3039 31ST AVE S MINNEAPOLIS MN 55406	LILY G M & WENDY A REID	RESIDENTIAL	$246,200	120 ft
3026 32ND AVE S MINNEAPOLIS MN 55406	LAUREN OLSON/NICHOLAS VOTEL	RESIDENTIAL	$423,100	154 ft
3011 31ST AVE S MINNEAPOLIS MN 55406	ALICJA HILL	RESIDENTIAL	$302,200	157 ft
3022 32ND AVE S MINNEAPOLIS MN 55406	EMMA DVORAK & NELLE DVORAK	RESIDENTIAL	$375,800	159 ft
3043 31ST AVE S MINNEAPOLIS MN 55406	A HOSANSKY & L BAGLEY	RESIDENTIAL	$688,300	160 ft

Property History

Most Recent Sale

Date201304

Price$122,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$5,577