3949 ELLIOT AVE MINNEAPOLIS MN 55407

PID: 1102824210148

Property Overview

Parcel ID1102824210148

Lot Size5,340 sq ft (0.123 ac)

Lot Dimensions (est.)126 ft wide × 43 ft deep

Year Built1923

Property ClassAPARTMENT

OwnerELLIOT CAPITAL LLC

Assessed Value$517,000

Land Value$74,900

Building Value$442,100

Annual Tax$12,027

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

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 rent1,152/mo

Renter-occupied30.0%

Median home value$271K

Vacancy rate2.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 96

Market Snapshot

Zip code 55407

Median sale price$340K+1.5% YoY

Median price / sqft$214/sqft

Median days to close22 days

Active listings49

Source: Redfin Data Center (Invalid Date) · Zip 55407

Zoning

UN1Urban Neighborhood 1

Urban Neighborhood 1 — low-density residential

Typical Uses

·Single-family homes
·Duplexes
·Accessory dwelling units

Max Height35 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width32 ft

Buildable depth87 ft

Area~2,783 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 sfr / adu benchmarks for 2,783 sqft buildable area.

Est. units

Yield on cost

2.8%

Spread

-2.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3953 ELLIOT AVE MINNEAPOLIS MN 55407	ELLIOT CAPITAL LLC	APARTMENT	$77,500	42 ft
3941 ELLIOT AVE MINNEAPOLIS MN 55407	PATRICK ALAN SADLER	APARTMENT	$532,000	64 ft
3937 ELLIOT AVE MINNEAPOLIS MN 55407	P ZARETZKY & C SWIDER	RESIDENTIAL	$422,600	127 ft
3948 10TH AVE S MINNEAPOLIS MN 55407	FOUNTAIN OF LIFE GSPL CH INC	RESIDENTIAL	$0	138 ft
3944 10TH AVE S MINNEAPOLIS MN 55407	MANUEL HUERTA PIZHA ET AL	RESIDENTIAL	$278,400	144 ft
3952 10TH AVE S MINNEAPOLIS MN 55407	CAMPAIGNERS FOR CHRIST INC	COMMERCIAL-PREFERRED	$0	144 ft
4001 ELLIOT AVE MINNEAPOLIS MN 55407	TAYLOR GROENKE & BRIAN ACKER	RESIDENTIAL	$284,800	152 ft
911 40TH ST E MINNEAPOLIS MN 55407	ELOY REYES GARCIA	RESIDENTIAL	$225,200	154 ft
3940 10TH AVE S MINNEAPOLIS MN 55407	RYAN J SCHOEN	RESIDENTIAL	$254,000	161 ft
3933 ELLIOT AVE MINNEAPOLIS MN 55407	LORRAINE MONTEAGUT/DAN XIE	RESIDENTIAL	$250,000	170 ft

Property History

Most Recent Sale

Date199402

Price$118,800

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$12,027