3515 31ST AVE S MINNEAPOLIS MN 55406

PID: 0602823320101

Property Overview

Parcel ID0602823320101

Lot Size5,596 sq ft (0.128 ac)

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

Year Built1921

Property ClassRESIDENTIAL

OwnerR A DILLEY & J R NORTON

Assessed Value$326,200

Land Value$115,000

Building Value$211,200

Annual Tax$4,808

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

2 permits on record since 2021 · $39K total declared value · Most recent: May 2024 (misc)

MiscMay 2024Closed

$39K

Premier Roofing Inc

ExistresFeb 2021Closed

NORTHERNS ONE HOUR HEATING AND AIR CONDITIONING

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

Neighborhood Profile

Howe · 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

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 width30 ft

Buildable depth100 ft

Area~2,997 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 2,997 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3517 31ST AVE S MINNEAPOLIS MN 55406	MARC HILL	RESIDENTIAL	$330,000	40 ft
3509 31ST AVE S MINNEAPOLIS MN 55406	DUANE SCOTT BAARDSON	RESIDENTIAL	$368,100	40 ft
3521 31ST AVE S MINNEAPOLIS MN 55406	MATTHEW YOST	RESIDENTIAL	$274,000	80 ft
3505 31ST AVE S MINNEAPOLIS MN 55406	JASON SCHWEER/ALICIA WELLNER	RESIDENTIAL	$336,100	80 ft
3525 31ST AVE S MINNEAPOLIS MN 55406	L STEPHENS & C STEPHENS	RESIDENTIAL	$326,100	120 ft
3501 31ST AVE S MINNEAPOLIS MN 55406	3501 31ST AVE S LLC	RESIDENTIAL-TWO UNIT	$374,300	120 ft
3512 32ND AVE S MINNEAPOLIS MN 55406	ALLISON E DIBBLE	RESIDENTIAL	$274,100	154 ft
3508 32ND AVE S MINNEAPOLIS MN 55406	BARBARA ANN MOBERG	RESIDENTIAL	$280,500	159 ft
3516 32ND AVE S MINNEAPOLIS MN 55406	RICHARD L HAGBERG	RESIDENTIAL	$227,500	159 ft
3531 MINNEHAHA AVE MINNEAPOLIS MN 55406	K S MEERKINS & A J BOLLMAN	RESIDENTIAL	$206,500	162 ft

Property History

Most Recent Sale

Date200803

Price$189,900

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,808