2840 POLK ST N E MINNEAPOLIS MN 55418

PID: 1202924220177

Property Overview

Parcel ID1202924220177

Lot Size6,001 sq ft (0.138 ac)

Lot Dimensions (est.)100 ft wide × 60 ft deep

Year Built1904

Property ClassAPARTMENT

OwnerLUIS MOLINA & MARIA MOLINA

Assessed Value$663,000

Land Value$60,000

Building Value$603,000

Annual Tax$12,811

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 ↗

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 ↗

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

Audubon Park · Minneapolis

Median reported rent1,414/mo

Renter-occupied47.2%

Median home value$288K

Vacancy rate1.6%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 11

Market Snapshot

Zip code 55418

Median sale price$345K-3.1% YoY

Median price / sqft$222/sqft

Median days to close36 days

Active listings42

Source: Redfin Data Center (Invalid Date) · Zip 55418

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 width50 ft

Buildable depth60 ft

Area~2,998 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 2,998 sqft buildable area.

Est. units

Yield on cost

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2838 POLK ST N E MINNEAPOLIS MN 55418	MARIA HANSEN & SEAN LEGROS	RESIDENTIAL	$324,100	66 ft
960 29TH AVE N E MINNEAPOLIS MN 55418	GREEN AVENUE PROPERTIES LLC	APARTMENT	$801,000	69 ft
950 29TH AVE N E MINNEAPOLIS MN 55418	JENDI PROPERTIES LLC	RESIDENTIAL-TWO UNIT	$308,100	92 ft
2834 POLK ST N E MINNEAPOLIS MN 55418	HANNAH G PAULSON	RESIDENTIAL	$307,600	106 ft
946 29TH AVE N E MINNEAPOLIS MN 55418	JENDI PROPERTIES LLC	RESIDENTIAL	$196,800	120 ft
2830 POLK ST N E MINNEAPOLIS MN 55418	T M POURCIAU & S L POURCIAU	RESIDENTIAL	$598,200	150 ft
1002 29TH AVE N E MINNEAPOLIS MN 55418	RONALD DANATUS	APARTMENT	$375,000	166 ft
2826 POLK ST N E MINNEAPOLIS MN 55418	P BLASING & J SCHWALBE	RESIDENTIAL	$345,300	195 ft
2843 POLK ST N E MINNEAPOLIS MN 55418	RYAN C LARSON	RESIDENTIAL	$346,800	221 ft
2839 POLK ST N E MINNEAPOLIS MN 55418	SHAWN ROERING	RESIDENTIAL	$392,700	226 ft

Property History

Most Recent Sale

Date200112

Price$314,888

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$12,811