3225 31ST AVE S MINNEAPOLIS MN 55406

PID: 0602823230023

Property Overview

Parcel ID0602823230023

Lot Size5,950 sq ft (0.137 ac)

Lot Dimensions (est.)141 ft wide × 42 ft deep

Year Built1913

Property ClassRESIDENTIAL

OwnerTIMOTHY THOMPSON & JAESUK IM

Assessed Value$352,100

Land Value$128,000

Building Value$224,100

Annual Tax$5,242

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

5 permits on record since 2020 · $23K total declared value · Most recent: Mar 2024 (misc)

MiscMar 2024Closed

$23K

Warner Restoration LLC

ExistresJun 2023Closed

The Snelling Co Inc

ResDec 2022Closed

Ryan Plumbing And Heating Co

ExistresDec 2022Closed

The Snelling Co Inc

ResFeb 2020Closed

CenterPoint Energy Resource Corp

Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.

Neighborhood Profile

Longfellow · 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$386K+4.2% YoY

Median price / sqft$263/sqft

Median days to close13 days

Active listings43

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 width32 ft

Buildable depth102 ft

Area~3,253 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 3,253 sqft buildable area.

Est. units

Yield on cost

3.9%

Spread

-1.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3229 31ST AVE S MINNEAPOLIS MN 55406	ANNE J GESKE	RESIDENTIAL	$286,700	42 ft
3221 31ST AVE S MINNEAPOLIS MN 55406	AMELIA ROSE MCDONAH	RESIDENTIAL-TWO UNIT	$362,700	42 ft
3233 31ST AVE S MINNEAPOLIS MN 55406	B PORRAZZO & R GOAR	RESIDENTIAL	$304,000	84 ft
3217 31ST AVE S MINNEAPOLIS MN 55406	SARAH ROBINSON/EMILIA FISHER	RESIDENTIAL	$447,900	84 ft
3237 31ST AVE S MINNEAPOLIS MN 55406	D WILLOW & J JONES-RIZZI	RESIDENTIAL	$352,900	126 ft
3215 31ST AVE S MINNEAPOLIS MN 55406	S A MILLS & P M NESS	RESIDENTIAL	$370,600	126 ft
3224 32ND AVE S MINNEAPOLIS MN 55406	KENNETH W ROOS ETAL	RESIDENTIAL	$340,700	153 ft
3220 32ND AVE S MINNEAPOLIS MN 55406	C R WOELFEL & K K WOELFEL	RESIDENTIAL	$305,600	159 ft
3228 32ND AVE S MINNEAPOLIS MN 55406	LESHER AUST FAMILY TRUST	RESIDENTIAL	$423,500	159 ft
3241 31ST AVE S MINNEAPOLIS MN 55406	C & A STROBEL-AYRES	RESIDENTIAL	$348,700	168 ft

Property History

Most Recent Sale

Date202206

Price$418,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$5,242