2815 1ST AVE S MINNEAPOLIS MN 55408

PID: 3402924430176

Property Overview

Parcel ID3402924430176

Lot Size5,707 sq ft (0.131 ac)

Lot Dimensions (est.)127 ft wide × 45 ft deep

Year Built1901

Property ClassCONDOMINIUM

OwnerMARIA ROSARIO S AYABACA ETAL

Assessed Value$91,000

Land Value$46,000

Building Value$45,000

Annual Tax$1,409

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

Whittier · Minneapolis

Median reported rent1,189/mo

Renter-occupied85.2%

Median home value$279K

Vacancy rate3.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 78.01

Market Snapshot

Zip code 55408

Median sale price$390K+6.8% YoY

Median price / sqft$243/sqft

Median days to close62 days

Active listings73

Source: Redfin Data Center (Invalid Date) · Zip 55408

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 width35 ft

Buildable depth87 ft

Area~3,038 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 3-story wood frame (5–12 units) benchmarks for 3,038 sqft buildable area.

Est. units

Yield on cost

4.1%

Spread

-1.4%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2815 1ST AVE S MINNEAPOLIS MN 55408	M R S AYABACA & J B LOJA	CONDOMINIUM	$83,000	0 ft
MN	Unknown	—	—	0 ft
2819 1ST AVE S MINNEAPOLIS MN 55408	JACOB & ELIZABETH SCHUMACK	RESIDENTIAL	$244,600	37 ft
2811 1ST AVE S MINNEAPOLIS MN 55408	JORGE V LALA LLIGUICOTA	RESIDENTIAL	$227,900	45 ft
2821 1ST AVE S MINNEAPOLIS MN 55408	MADISON AVE HOMES LLC	LOW INCOME RENTAL	$276,200	67 ft
2807 1ST AVE S MINNEAPOLIS MN 55408	B JOHNSTON & J ELLISON	RESIDENTIAL	$277,100	93 ft
2825 1ST AVE S MINNEAPOLIS MN 55408	WILLIAM SCHOBERG ET AL	RESIDENTIAL-TWO UNIT	$273,800	97 ft
2803 1ST AVE S MINNEAPOLIS MN 55408	ALBERTA ROSAS BLANCAS	RESIDENTIAL-TWO UNIT	$251,700	133 ft
2812 STEVENS AVE MINNEAPOLIS MN 55408	FABIOLA RODRIGUEZ	RESIDENTIAL	$315,600	139 ft
2816 STEVENS AVE MINNEAPOLIS MN 55408	R REDDING & C R SMITH	TRIPLEX	$547,100	145 ft

Property History

Most Recent Sale

Date200703

Price$250,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$1,409