5504 PENN AVE S MINNEAPOLIS MN 55419

PID: 2002824110021

Property Overview

Parcel ID2002824110021

Lot Size6,338 sq ft (0.145 ac)

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

Year Built1951

Property ClassRESIDENTIAL-TWO UNIT

OwnerRACHEL HEMSEY & KYLE NELSON

Assessed Value$487,000

Land Value$183,000

Building Value$304,000

Annual Tax$9,213

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

8 permits on record since 2017 · $39K total declared value · Most recent: Jun 2024 (misc)

MiscJun 2024Closed

$3K

BUZZ EXTERIORS

ExistresMay 2022Cancelled

Standard Heating and Air Conditioning Inc

MiscAug 2021Closed

$12K

Precision Exteriors Restoration LLC

MiscAug 2021Closed

$12K

Precision Exteriors Restoration LLC

RemodelJun 2020Closed

$500

Kyle Nelson

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

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width40 ft

Buildable depth87 ft

Area~3,469 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 3,469 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
5500 PENN AVE S MINNEAPOLIS MN 55419	C A FREILING & E A FREILING	RESIDENTIAL	$374,000	50 ft
5508 PENN AVE S MINNEAPOLIS MN 55419	JACE BROCKEL	RESIDENTIAL-TWO UNIT	$435,900	50 ft
5512 PENN AVE S MINNEAPOLIS MN 55419	WELLS BOVARD	RESIDENTIAL-TWO UNIT	$496,600	100 ft
5505 QUEEN AVE S MINNEAPOLIS MN 55410	RICHARD PORTNOY	RESIDENTIAL	$419,300	140 ft
5509 QUEEN AVE S MINNEAPOLIS MN 55410	PHILIP & MARY RUCE TRUST	RESIDENTIAL	$567,500	148 ft
5501 QUEEN AVE S MINNEAPOLIS MN 55410	KATHERINE M LINDSTROM	RESIDENTIAL	$650,200	149 ft
5516 PENN AVE S MINNEAPOLIS MN 55419	KIRK L BRINCKS TRUST	RESIDENTIAL-TWO UNIT	$473,800	150 ft
5515 QUEEN AVE S MINNEAPOLIS MN 55410	K H LAYON & K D LAYON	RESIDENTIAL	$526,800	171 ft
5507 PENN AVE S MINNEAPOLIS MN 55419	DAVID W ERICKSON TRUST	RESIDENTIAL-TWO UNIT	$449,500	192 ft
5509 PENN AVE S MINNEAPOLIS MN 55419	KIRK L BRINCKS	RESIDENTIAL-TWO UNIT	$408,300	198 ft

Property History

Most Recent Sale

Date201909

Price$393,500

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$9,213