3715 PENN AVE N MINNEAPOLIS MN 55412

PID: 0502924440118

Property Overview

Parcel ID0502924440118

Lot Size5,033 sq ft (0.116 ac)

Lot Dimensions (est.)126 ft wide × 40 ft deep

Year Built1954

Property ClassRESIDENTIAL

OwnerGERALDINE A SARGENT

Assessed Value$193,600

Land Value$30,000

Building Value$163,600

Annual Tax$2,565

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Great Streets Priority ParcelHigh

Designated a Priority parcel in Minneapolis's Great Streets program — eligible for facade improvement grants and commercial gap financing.

Minneapolis Great Streets ↗

Potential programs

Great Streets Façade Improvement ProgramMedium

Matching grants for exterior improvements to commercial buildings on eligible corridors; contact CPED for current availability.

Minneapolis — Facade Improvement Matching Grant ↗

Great Streets Gap FinancingMedium

Below-market loans for commercial real estate development and rehabilitation on eligible corridors; priority given to Green Zone and ACP50 locations.

Minneapolis Great Streets — Gap Financing ↗

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 rent2,095/mo

Renter-occupied19.2%

Median home value$227K

Vacancy rate4.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1007

Market Snapshot

Zip code 55412

Median sale price$225K-2.2% YoY

Median price / sqft$172/sqft

Median days to close31 days

Active listings67

Source: Redfin Data Center (Invalid Date) · Zip 55412

Zoning

RM1Residence Goods and Services

Residential Mixed-Use 1 — low-density mixed residential

Typical Uses

·Apartments
·Townhomes
·Neighborhood-scale retail on ground floor

Max Height45 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width30 ft

Buildable depth86 ft

Area~2,574 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 2,574 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
3719 PENN AVE N MINNEAPOLIS MN 55412	CITY OF MINNEAPOLIS	VACANT LAND-RESIDENTIAL	$0	40 ft
3711 PENN AVE N MINNEAPOLIS MN 55412	ESTOREMASTERS LLC	VACANT LAND-RESIDENTIAL	$0	40 ft
3723 PENN AVE N MINNEAPOLIS MN 55412	SAEED ALKHULAIDI	RESIDENTIAL	$196,500	80 ft
3707 PENN AVE N MINNEAPOLIS MN 55412	ADAM MCGATH	RESIDENTIAL	$85,000	80 ft
3725 PENN AVE N MINNEAPOLIS MN 55412	ALLIANCE HOUSING INC	LOW INCOME RENTAL	$470,000	120 ft
3701 PENN AVE N MINNEAPOLIS MN 55412	TRANQUILITY HOUSING CORP	COMMERCIAL-PREFERRED	$166,000	120 ft
3714 QUEEN AVE N MINNEAPOLIS MN 55412	KINDRA L HOUGHTALING	RESIDENTIAL	$193,700	140 ft
3710 QUEEN AVE N MINNEAPOLIS MN 55412	GREGORY MERRITT/JERRY EVANS	RESIDENTIAL	$165,900	145 ft
3718 QUEEN AVE N MINNEAPOLIS MN 55412	ALYSSA BIER	RESIDENTIAL	$178,900	146 ft
3729 PENN AVE N MINNEAPOLIS MN 55412	KEITH D MALMER	RESIDENTIAL-TWO UNIT	$315,700	160 ft

Property History

Most Recent Sale

Date199605

Price$37,500

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$2,565