617 31ST AVE N MINNEAPOLIS MN 55411

PID: 1002924320019

Property Overview

Parcel ID1002924320019

Lot Size2,292 sq ft (0.053 ac)

Lot Dimensions (est.)51 ft wide × 45 ft deep

Year Built1914

Property ClassRESIDENTIAL

OwnerTONG YANG

Assessed Value$129,200

Land Value$9,000

Building Value$120,200

Annual Tax$1,510

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Qualified Census Tract (QCT)High

Within a HUD-designated Qualified Census Tract — LIHTC projects here receive a 30% basis boost, significantly increasing the tax credit allocation for affordable housing development.

HUD — LIHTC Qualified Census Tracts ↗

Potential programs

LIHTC 30% Basis BoostMedium

Affordable housing developments in QCTs receive a 30% increase in eligible basis for Low Income Housing Tax Credits — materially improving project feasibility. Allocated through MHFA.

HUD — LIHTC Qualified Census Tracts ↗

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 rent861/mo

Renter-occupied71.1%

Median home value$185K

Vacancy rate3.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1016

Market Snapshot

Zip code 55411

Median sale price$243K-2.9% YoY

Median price / sqft$140/sqft

Median days to close40 days

Active listings67

Source: Redfin Data Center (Invalid Date) · Zip 55411

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 width41 ft

Buildable depth5 ft

Area~205 sqft

Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.

Development Feasibility

Potentially Feasible

Back-of-envelope estimate based on sfr / adu benchmarks for 205 sqft buildable area.

Est. units

Yield on cost

17.5%

Spread

+12.0%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
625 31ST AVE N MINNEAPOLIS MN 55411	BEREAN MISSIONARY BAPTIST CH	LAND-COMMERCIAL	$0	82 ft
620 31ST AVE N MINNEAPOLIS MN 55411	CITY OF MINNEAPOLIS	VACANT LAND-RESIDENTIAL	$0	118 ft
616 31ST AVE N MINNEAPOLIS MN 55411	CITY OF MINNEAPOLIS	VACANT LAND-RESIDENTIAL	$0	119 ft
3035 6TH ST N MINNEAPOLIS MN 55411	LYNNISHA LOTT	RESIDENTIAL	$296,000	120 ft
3033 6TH ST N MINNEAPOLIS MN 55411	K A MALOKOFSKY & R RACKOFF	RESIDENTIAL	$247,100	127 ft
3022 LYNDALE AVE N MINNEAPOLIS MN 55411	DANMARK PROPERTIES LLC	RESIDENTIAL	$160,000	140 ft
3029 6TH ST N MINNEAPOLIS MN 55411	P C MCCORMICK & S WEERAKOON	RESIDENTIAL	$208,300	147 ft
610 31ST AVE N MINNEAPOLIS MN 55411	LOUVINIA BYRD	RESIDENTIAL	$360,800	162 ft
3100 LYNDALE AVE N MINNEAPOLIS MN 55411	T & HL PROPERTIES MGMT LLC	COMMERCIAL-PREFERRED	$488,000	167 ft
3025 6TH ST N MINNEAPOLIS MN 55411	INVERSIONES CRUZ INC	RESIDENTIAL	$231,500	174 ft

Property History

Most Recent Sale

Date200101

Price$88,000

TypePROBATE DEED

Current Tax Year

Year2026

Tax Due$1,510