5500 PENN AVE S MINNEAPOLIS MN 55419

PID: 2002824110020

Property Overview

Parcel ID2002824110020

Lot Size6,341 sq ft (0.146 ac)

Lot Dimensions (est.)127 ft wide × 50 ft deep

Year Built1950

Property ClassRESIDENTIAL

OwnerC A FREILING & E A FREILING

Assessed Value$374,000

Land Value$183,000

Building Value$191,000

Annual Tax$5,651

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

1 permit on record since 2021 · $6K total declared value · Most recent: Aug 2021 (misc)

MiscAug 2021Closed

$6K

RICKY J ARTZ

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

Neighborhood Profile

Armatage · 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

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)10 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width112 ft

Buildable depth10 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

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
5504 PENN AVE S MINNEAPOLIS MN 55419	RACHEL HEMSEY & KYLE NELSON	RESIDENTIAL-TWO UNIT	$487,000	50 ft
5508 PENN AVE S MINNEAPOLIS MN 55419	JACE BROCKEL	RESIDENTIAL-TWO UNIT	$435,900	100 ft
5501 QUEEN AVE S MINNEAPOLIS MN 55410	KATHERINE M LINDSTROM	RESIDENTIAL	$650,200	140 ft
5505 QUEEN AVE S MINNEAPOLIS MN 55410	RICHARD PORTNOY	RESIDENTIAL	$419,300	148 ft
5512 PENN AVE S MINNEAPOLIS MN 55419	WELLS BOVARD	RESIDENTIAL-TWO UNIT	$496,600	150 ft
5440 PENN AVE S MINNEAPOLIS MN 55419	CH OF CHRIST THE REDEEMER	COMMERCIAL-PREFERRED	$0	158 ft
5509 QUEEN AVE S MINNEAPOLIS MN 55410	PHILIP & MARY RUCE TRUST	RESIDENTIAL	$567,500	171 ft
5445 QUEEN AVE S MINNEAPOLIS MN 55410	K M ANDERSON & J C VALKO	RESIDENTIAL	$454,600	180 ft
2221 55TH ST W MINNEAPOLIS MN 55419	HEATHER BALENGER ET AL	RESIDENTIAL-TWO UNIT	$520,300	192 ft
5507 PENN AVE S MINNEAPOLIS MN 55419	DAVID W ERICKSON TRUST	RESIDENTIAL-TWO UNIT	$449,500	198 ft

Property History

Current Tax Year

Year2026

Tax Due$5,651