5022 PENN AVE S MINNEAPOLIS MN 55419

PID: 1702824410005

Property Overview

Parcel ID1702824410005

Lot Size5,023 sq ft (0.115 ac)

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

Year Built1923

Property ClassRESIDENTIAL

OwnerPAUL A LUNDGREN

Assessed Value$492,600

Land Value$228,000

Building Value$264,600

Annual Tax$7,834

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

11 permits on record since 2018 · $37K total declared value · Most recent: Apr 2026 (misc)

MiscApr 2026Final Inspection

$6K

RENEWAL BY ANDERSEN CORP

ResMar 2025Closed

Hero Home Services LLC

ResMar 2025Closed

Hero Home Services LLC

ResJan 2024Closed

Hero Home Services LLC

ExistresOct 2022Closed

Hero Home Services LLC

Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.

Neighborhood Profile

Minneapolis

Median reported rent1,771/mo

Renter-occupied10.4%

Median home value$551K

Vacancy rate5.7%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1113

Market Snapshot

Zip code 55419

Median sale price$494K-4.7% YoY

Median price / sqft$270/sqft

Median days to close29 days

Active listings30

Source: Redfin Data Center (Invalid Date) · Zip 55419

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 width30 ft

Buildable depth86 ft

Area~2,567 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 2,567 sqft buildable area.

Est. units

Yield on cost

3.3%

Spread

-2.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
5026 PENN AVE S MINNEAPOLIS MN 55419	DANA CRISTINA HOLMES	RESIDENTIAL	$482,900	40 ft
5018 PENN AVE S MINNEAPOLIS MN 55419	A P CARPENTER/K J CARPENTER	RESIDENTIAL	$432,700	40 ft
5030 PENN AVE S MINNEAPOLIS MN 55419	SASHANK VARMA & KEISHA VARMA	RESIDENTIAL	$473,200	80 ft
5014 PENN AVE S MINNEAPOLIS MN 55419	A P CARPENTER/K J CARPENTER	COMMERCIAL-PREFERRED	$428,000	85 ft
5034 PENN AVE S MINNEAPOLIS MN 55419	M JOHNSON & A ROWLAND	RESIDENTIAL-TWO UNIT	$573,100	130 ft
5025 QUEEN AVE S MINNEAPOLIS MN 55410	C KOEHN & M KOEHN	RESIDENTIAL	$894,000	141 ft
5021 QUEEN AVE S MINNEAPOLIS MN 55410	J L MATELSKI & K R MATELSKI	RESIDENTIAL	$712,000	141 ft
5029 QUEEN AVE S MINNEAPOLIS MN 55410	J R BORMAN & M M BORMAN	RESIDENTIAL	$689,800	151 ft
5017 QUEEN AVE S MINNEAPOLIS MN 55410	LISA K KJELLANDER	RESIDENTIAL	$484,500	153 ft
5000 PENN AVE S MINNEAPOLIS MN 55419	MOLLY'S INCORPORATED	COMMERCIAL-PREFERRED	$775,000	169 ft

Property History

Current Tax Year

Year2026

Tax Due$7,834